How to Get the Best Prices on Fine Jewelry: 7 Tips

Last updated on April 2nd, 2023 at 03:53 pm

Whether you’re shopping for yourself or looking for gifts for your loved ones, fine jewelry can be a great choice as well as a terrific investment. However, we all know that quality doesn’t come cheap.

Thinking of adding a new pair of diamond earrings or a beautiful pearl ring to your fine jewelry collection?  If you want to get the most bling for your buck, check out these tips for how to get the best prices on fine jewelry.

How to Get the Best Prices on Fine Jewelry

Know the Market

Knowledge is power, and understanding the jewelry market will definitely give you an advantage. Before you go out shopping, take some time to follow the market and learn as much as you can about jewelry. Knowing the difference between a 1.00 carat diamond and a 0.90 carat one can help you save as much as 25%. The same is true for gold jewelry. Should you choose 14K gold, 18K or 24K gold? 

Shop After the Holidays

If you want to get the best deals when shopping for fine jewelry, wait until March, April, and the beginning of May. This is right after the holiday season but just before engagement ring season starts, so it’s an ideal time to get the best prices on fine jewelry.

Avoid shopping for jewelry during major holidays like Christmas or Valentine’s Day as you probably won’t find any discounts during this time. If you do come across an amazing holiday deal, it is probably because the seller has over-priced their items just before the big sale.

Don’t Overpay for Designer Names

Those gorgeous designer pieces you see in the storefronts of Tiffany’s and Cartier are very easy to fall in love with. The artistry that goes into making those amazing pieces is what makes them unique, but will cost you a pretty penny.

But, if you’re looking for an investment piece, it would be a better idea for you to save your money, and buy from your local jeweler. You’ll have a much better chance of getting the most for your money. 

Shop at Reputable Jewelers

Fine jewelry is quite a large investment, so you don’t want to shop at just any store. Instead, find a trustworthy jewelry store that has been around for a few generations, has good reviews, and that does their repairs and custom pieces in-house.

You can also buy from verified online platforms like Etsy, which sells top-quality jewelry at competitive prices. This way, you can ensure that you’ll be getting quality pieces and avoiding any possible scams.  

Stick to the Basics

If you want to get the best prices on fine jewelry, it’s always better to stick to the classics, and avoid buying trendy designs. If a particular jewelry design, shape, or color is trending among celebrities, the price of that piece can increase by 10%.

The same goes for diamonds. The most popular shape for diamond, the round cut, costs approximately 25% more than all other shapes. So, stick to less in-demand designs, and you can save a lot of money on your fine jewelry.

Swap an Old Piece for a New One

If you want to update your jewelry collection, and save some money, consider trading in your old pieces for new ones. You probably have a few pieces at home that you almost never wear because they no longer fit your style. So why not save some money on your new purchases by trading them in for something you like better? It may not cover the entire cost of the new piece, but it may go a long way, saving you some money. 

Negotiate 

Although in high-end stores prices are often non-negotiable, your local jewelry seller might offer you discounts. These sellers can mark up their prices by as much as 70%, which leaves plenty of room to negotiate.

Always know the details of what you’re looking for before you go into the store, and be polite while negotiating. Offer to pay cash instead of credit, as sellers are more inclined to give discounts for cash. Buying multiple items may get you a discount as well. So, if you’re planning on buying more than one piece, it doesn’t hurt to ask for a discount. 

We hope with these tips for getting the best prices on fine jewelry, you’ll be able to afford more of the jewelry you love. How else have you saved on fine jewelry? Leave us a comment below.

Also read:
Read Our 5 Tips to Save on Diamond Jewelry
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