Budget, budget, budget! One of the most important factors to consider when looking to buy an engagement ring is your budget. Sure, we’d all like to have thousands of dollars to splash out, but the key is to get the best engagement ring for your budget.
A budget below $2500 may prevent you from buying a huge diamond or an ornate setting, but it doesn’t mean you can’t buy something beautiful and alluring. You just need to know what to look for to get the best value engagement ring. And the key is to spend as much as you can afford on the factors that have the most impact on the appearance of the diamond, while holding back on those that don’t.
So, let’s dive in and take a look at some tricks of the trade.
#1- Compromise on carat weight
Carat weight is a key factor in determining the value of a diamond. Now, you might think that a diamond with a carat weight of 0.5 would be valued at half of one with a carat weight of 1.0. But the scale doesn’t work like that and the price of a diamond rises faster as the carat weight increases. When you choose a diamond with carat weight below 1.0, you free up more of your budget to spend on the cut.
So, without getting into the specifics of diamond carat weights, let’s just say that on a budget of $1000 to $2500, you should be looking for a diamond in the 0.45 – 0.90 carat range.
Solitaire rings generally offer the best value for money and a fancy shaped diamond can often look bigger than a solitaire diamond of the same weight. So, if size is important to you, look at princess cut diamond rings or a radiant cut to give the illusion of it being bigger.
#2- Don’t overspend on the metal
If you’re shopping for an engagement ring on a budget, forget platinum or 18K gold. 14K gold is more durable and offers you the option of yellow gold, white gold or rose gold so you still have plenty of scope. Choosing 14K gold will allow you to spend more of your budget on the gemstone.
#3- Cut is key
The primary purpose of a diamond ring is to look great. The cut of a diamond is an indication of how well it is cut and polished. While opting for a lesser quality of cut may appear cheaper, you will lose that stunning brilliance you expect from a diamond engagement ring.
#4- Perfection isn’t always perfect
Clarity and color refer to how colorless and inclusion-free a diamond is. A perfect diamond will have no imperfections and be completely clear – but to know that, you’d need to be a diamond expert with specialist equipment. So, when looking to buy a diamond engagement ring for under $2500, perfect is unnecessary. Instead, you want to look for an ‘eye-clean’ diamond. Unsurprisingly, that means one that has no inclusions or imperfections that are visible to the naked eye.
For diamond engagement rings under $2500, you should look for a color grading of H to J for round diamonds in white gold settings, and K to M range for yellow gold or rose gold.
#5- Stick to GIA or any Certified Diamond Rings
You’re not just buying a diamond engagement ring. You’re making an investment. So, you need to know you’re getting what you pay for. GIA and AGS are the most respected labs on the planet when it comes to grading diamonds. Both are non-profit organizations that exist to give you peace of mind when shopping for diamonds. Anything else is a risk not worth taking. You can also go with Canadian Diamonds or the diamonds that are certified by a local gemologist called “ Certificate of Authenticity”
#6- Go with a cluster diamond ring
Of course a single diamond is more valuable than cluster diamonds, but if your budget is tight, you do not need to sacrifice her favorite style for one big diamond. You can choose cluster diamonds with a classic setting, halo or for more bling!
Buying an engagement ring on a budget requires you to shop smart. There is no need to miss out on the sparkle and brilliance your soon-to-be fiancé desires, you just need to know how to get the most for your money.
For further details or to discuss your requirements, give us a call or pop in and see us. Or browse our engagement rings online.
If you are interested in any of those diamond engagement rings, but with a gemstone of your choice please contact us for a quote. Even sky has no limit when it comes to shopping at Arctic Fame Diamonds.