Diamond jewelry is not only the perfect gift this holiday season, but it’s also something that will last many generations. Though the experience of owning a gorgeous piece of diamond jewelry is fantastic, buying the piece can make your bank account throw a fit.
So, before you reach for your credit card, make sure you’re aware of all the ways you can save on diamond jewelry purchases. Let’s dive in!
1. Buy Online
Buying diamond jewelry online is a convenient option. Who doesn’t like shopping from their couch? However, there are even more benefits. It’s been proven that buying diamond jewelry online can generate deep discounts for buyers. Savings can even reach up to 50%! More often than not, you can expect your savings to be in the area of 30%, and that’s without a sale.
It all comes down to distribution. Without a physical brick-and-mortar storefront, vendors can save big on housing and shipping diamond jewelry. These savings get passed on to you and your wallet. That said, it’s essential to choose a reputable vendor when shopping for diamond jewelry online to avoid scams and headaches. Do your research as you would any other online purchase. Look for third-party reviews and make sure any diamonds you buy are certified.
2. Buy Lab-Grown Diamonds
Lab-grown diamonds are the diamond industry’s best-kept secret, but as consumers continue to become more informed, they’re beginning to fly off the shelves.
Lab-grown diamonds are real diamonds that are identical to mined diamonds in every way, including visually, chemically, and physically. Even diamond experts have trouble distinguishing between lab-grown and mined diamonds without high tech equipment.
As they are created in a lab setting, they are not tied to any unethical mining practices. Nor do they cost exorbitant amounts to extract from the earth. In short, lab-grown diamonds are the perfect option for anyone who wants a less-expensive diamond without giving up the whole ‘diamond’ part.
3. Buy a Fancy-Shaped Stone
Diamond-buying 101 — If a stone is in any other shape other than the round-brilliant, it is considered a fancy-shaped stone. However, “fancy” doesn’t necessarily mean better or more expensive. When it comes to stone shape, your preference is the most important thing, and if you prefer to save on your diamond jewelry purchase, there are a few fancy-shapes that can help you do just that.
Go with something like an asscher cut or oval shaped diamond to save. These cuts and shapes can help you maximize the apparent size of your diamond, regardless of carat weight. This results from a combination of the cutting process, which reduces the amount of diamond lost, and the large table (face) design of these shapes. With a diamond that appears larger, you can often go just below the carat weight you were expecting to purchase, ultimately saving you a pretty penny.
4. Go with 14K Gold
Diamonds aren’t the only area in which you can save big. Going with 14K gold over 18K gold can also offer substantial savings. This is because 14K gold contains less pure gold than 18K gold. However, this is generally an advantage, as pure gold is so soft. Reducing its quantity results in a more durable product. Additionally, while some argue that 14K gold is less visibly appealing than 18K gold, unless your best friend or spouse is a jewelry expert, no one will notice the difference.
5. Don’t Stress Over Finding the ‘Perfect’ Stone
Going into your diamond jewelry purchase well-informed is the best way to save. That’s where the four C’s come into play:
- Cut – Different from shape, the cut refers to the precise way the diamond artisan physically cuts the stone. While an emerald might have a rectangular shape, it becomes an emerald cut diamond through the cutting of parallel facets and mirror-like table.
- Color – Not all diamonds are the perfect blueish/white that we often see in animations, movies, or advertisements. In fact, diamonds come in a range of colors with varying levels of color present. The best colored stones have the least amount of yellow with more yellow present as you go down the scale.
- Clarity – Refers to the amount of imperfections in a diamond. Since diamonds, whether mined from the earth or grown in a lab, are created from the natural element carbon, they will always have some level (even if it isn’t noticeable) of inclusions or flaws. Although some individuals think that man-made diamonds are flawless, this is simply not true.
- Carat – Although some associate carat with size, it is actually the physical weight of a diamond. However, carat weight almost always does increase as the size increases.
There are areas of give and take when it comes to diamond buying. For example, the difference between a 1.8 and 2-carat diamond is negligible, but a 2-carat diamond will cost much more. Understanding the four C’s will enable you to choose a diamond with the best characteristics within your budget, not just one that’s perfect on paper.
Buying diamond jewelry doesn’t have to mean you spend a small fortune. Going in prepared with these tips can help you save big on your diamond jewelry purchase. Good luck!