Tips for a small budget

Tips for a Small Budget.

Princess-Diamond-Wedding-Rings-Set

Many aspects come into play when understanding the retail prices of diamonds.  At the retail level, the diamond prices are only a small factor in what you are actually buying. 

The brand name, the style and design of the jewelry and the retail outlet all significantly impact upon the price.  So, a diamond which retails for $6000.00 may have a used market value of less than 25% of that figure.

Considerable savings may be found when buying from estate jewelry, thrift shops, pawnshops or individuals as long as there is clarity in exactly what is being purchased.

Few diamond shoppers can walk into a high-end jewelry store and buy a 5-carat, D color, Internally Flawless diamond with Ideal cut parameters.  Most diamond shoppers have an individual budget and therefore look to purchase the most beautiful, radiant diamond available within their budget. 

Here are some simple tips that will assist you in selecting the right diamond at an affordable price. 

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1) Diamonds have price per carat increases at the most popular carat weights (0.50, 1.00, 1.25, 1.50, 2.00, etc.)  Buying a diamond that has a carat weight just under those weights will cost less.  For example, a diamond that weighs 0.90 carats can be the same millimeter diameter as a diamond weighing 1.00 carat but cost considerably less.

2) The price of diamonds is very sensitive to color grade, yet most shoppers have a difficult time seeing the difference between some of the color grades.  The highest color grades (D, E, and F) are categorized as “colorless.”  But the next color grades (G, H, I, and J) are “near colorless” and the source of beautiful diamonds at much lower prices. 

So it is possible to buy a bigger diamond with a lower price per carat and a lower color grade but still within your budget. 

3) A ring with several smaller diamonds is less expensive than a single diamond with the same total carat weight.  For examplsparkling diamondse, three 0.50 carat diamonds will cost a fraction of what a single diamond weighing 1.50 carats.  

The same holds true for a 1.0-carat center stone with 0.25-carat diamonds on each side.  When on a limited budget, consider several smaller diamonds rather than a solitaire.

4) All diamonds have inclusions; the key is what you can see with your eye.  Once a diamond is clean to the eye (VS2 or good SI1 for brilliant cut shapes), higher clarity grades have no impact on the beauty or appearance of a diamond, they only add to the expense. 

Get the lowest clarity grade you are comfortable with and save a lot of money will no sacrifice in beauty.

5) The shape of the diamond can affect the millimeter size.  Of course, you should always get the diamond shape you like best but some shapes do look larger than other shapes.  Ovals, marquises and pear shaped diamonds generally look larger than round or square diamonds with the same carat weight.

6) Even diamonds with the same shape and carat weight can be different sizes.  The cut of the diamond can influence the millimeter size.  Shallower diamonds tend to be bigger in length and width than deeper diamonds. 

7) The type of setting you select to hold a diamond can influence the diamond’s perceived size as well as affect the dollars needed to purchase the precious stone. 

White gold settings cost about one-third the price of platinum settings.  Bezel set diamonds or diamonds with pave around the center stone can make the diamond appear bigger.

 

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8) Perhaps the most important factor in getting the best deal for a diamond purchase is where the purchase is made.  The retail markup on diamonds can range from well under 10% at online retailer sites to over 200% at high-end jewelry stores.  Finding a retailer with very low overhead and low prices will ensure more dollars go to the diamond. 

A diamond that brings excitement and happiness each time it is worn is the best display that the most suitable piece of jewelry has been selected.