How to Save Money on an Engagement Ring

My last post on engagement rings under $2,000 got me thinking about this popular subject of how to save money on an engagement ring. There are many ways to save money on an engagement ring purchase and maximize your dollars to get the best ring for your money. If you read my last post, I touched upon a few of these areas, but here I’ll go into more depth about various ways to save.

Shop online. By shopping online, you can save a bundle. Typical brick and mortar jewelry stores tend to charge a lot more as their overhead typically is much higher than that of an online retailer. The savings we commonly see is around 50% or more. You can also potentially save on sales tax, which can add up to a lot depending on where you live. Currently, deBebians only collects sales tax on purchases shipped within California; everything shipped out of state does not incur sales tax. Buying jewelry online is a new experience for a lot of people, so if that describes you as well, you may want to check out my blog post entitled “5 Tips for Buying an Engagement Ring Online.”

Opt for 14kt gold. 14kt gold is standard in the fine jewelry business and is an excellent choice for an engagement ring. We frequently recommend 14kt to our customers, particularly those choosing white gold, as a 14kt white gold ring will maintain its white appearance better than an 18kt white gold ring. 14kt is more durable than 18kt or platinum, and it is also more affordable. The only potential drawback is its nickel content, which can cause an allergic reaction for those with nickel allergies. If you are allergic to nickel, you will need to choose something other than gold, like platinum, palladium, titanium, etc.


This particular pear diamond weighs 1.39 ct. and cost $6,541.53 (center diamond only). Comparable round diamonds start around $9,800. The double halo setting sells for $1,980.00 in 14kt gold, $2,205 in 18kt gold, and $2,630 in platinum.

Choose a fancy cut diamond or gemstone. A round brilliant cut is the most expensive diamond shape on the market and also the most popular. A fancy cut, i.e. any non-round diamond shape, can save you a lot. I like cushions, radiants, ovals and pears personally, but there are a lot of different shapes to choose from, including heart, asscher, emerald, marquise, and princess. You can save money also by opting for a non diamond engagement ring featuring a gemstone, such as a sapphire, ruby or morganite stone. Gemstone engagement rings are certainly a trend embraced by some, but if you’re more of a traditionalist, you can still save money by opting for a fancy cut diamond, such as a classic emerald cut.

Get expert advice. An experienced GIA graduate gemologist can really help you pick out a great diamond at a great price, and I’ve witnessed this many times. There are so many tricks. For example, you can get a diamond that weighs less than 1 ct. yet measures face up the same as a 1 ct. diamond. Set side by side, they would look the same, but as carat weight is a definite factor in a diamond’s price, guess which one is cheaper? Getting help can also help you avoid some common mistakes, such as placing too much importance on a diamond’s clarity and less importance on its color.

Pay cash, if you can. Some retailers will offer a discount if you pay cash. At deBebians, we give a 1.5% discount on purchases paid via bank wire transfer. If the purchase is small, doing this may not make sense, as your bank will typically charge you a fee for the transfer. But if it’s a larger purchase, that 1.5% can be worth it.

There are many ways to save money on an engagement ring, but I feel that these five areas are among the most common. Hopefully, these five tips will help you with your engagement ring search. If you have any questions or need assistance finding your perfect ring, please feel free to contact us.

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