Tips for making the most of your Engagement ring budget.

As soon as someone famous announces they’re engagement, the speculation immediately starts! What style will it be? How many carats will it have? Who designed it? How much did it cost? You know the drill. Then there’s the frenzy amongst the paps to be the first to snap a decent photograph of it.

Those of you that are red carpet fans will know that it’s the perfect opportunity for the ring to have its first outing. The interviewer gets the chance to ask all those eagerly anticipated questions, and the Designer gets lots of free publicity. The announcement of the designer is usually then followed by a rush to a quality Jewellers who will make you a ring that looks exactly like your favourite stars’.

So what if you don’t have a cool $5m to spare, but you loved Beyonce’s 18 carat flawless ring style or the Duchess of Cambridge’s famous oval sapphire? These must-have styles have become so much more accessible these days, that many Jewellers expect it.

You can now have your Engagement or Wedding ring made with all the dazzle and glamour of your favourite star, but at a fraction of the cost. Once you’ve set a budget you’re comfortable with, a Jeweller will work with you and go through the various options for achieving your desired ring within that budget. It’s not about buying a “cheap” ring, but more about not overpaying for good quality, and making smart tradeoffs.

Here are our Top 5 Tips for getting that look without breaking the bank:

1. Choose a lower clarity diamond

Diamond clarity is an important factor used to evaluate the quality and value of a diamond. The amount of inclusions or internal flaws a diamond has falls into five main categories:

  • Flawless/Internally Flawless
  • Very Very Slightly Included (VVS1 & VVS2)
  • Very Slightly Included (VS1 & VS2)
  • Slightly Included (SI1 & S12)
  • Included (P1, P2 & P3)

With their big budgets, many stars can afford a flawless diamond, which are very rare and therefore very expensive. Diamonds that fall within the VVS & VS categories however will be almost flawless to the naked eye, but cost much less than flawless ones. Similarly, diamonds with flaws in the SI category are likely to only be visible in larger carat stones, and again are less expensive than VS1 & VS2 ones.

2. Choose a lower colour diamond

Most diamonds have hints of colour, and subtle colour differences have a big impact on diamond prices. Colours are graded on the following scale:

  • D to F – Colourless
  • G to I – Nearly colourless
  • J to M – Faintly tinted, usually yellow
  • N to R – Lightly tinted, usually yellow. Tint can be seen with the naked eye.
  • S to Z – Tinted, usually yellow, may progress to brownish. Tint visible to the naked eye, even when mounted.

Diamond colour is a measure of how white the stone is. The whitest diamonds are D in colour, and will be the most expensive, and so are often favoured by the stars. The majority of diamonds sold on the high street will fall into the nearly colourless category, G to I, which to the untrained eye will appear to be the same colour as higher graded diamonds.

This is great news for anyone wanting to replicate a famous stars’ diamond ring. It means that if your budget prevents you from buying a D to F graded diamond; it does not mean you cannot own a beautiful stone.

3. Reconsider the cut of the diamond

If a diamond is cut well then it can actually hide flaws (called inclusions) and make the diamond appear of a higher quality. The majority of diamonds are cut with 58 facets (or sides) to make the diamond reflect light and sparkle.

An emerald cut like Beyonce’s in the picture for example, is cut with fewer facets, therefore the stone’s clarity would need to be near flawless or close to VVS1, otherwise any marks in it would be very visible.

An inexpensive option would be to choose a radiant or princess cut diamond. Because these cuts have double the amount of facets, you could choose a SI quality stone, which is much cheaper. As we stated earlier, flaws in SI graded diamonds are unlikely to be visible to the naked eye.

4. Choose a different metal

In our experience it is the choice of precious metal that we’re finding impacts most on the price of a ring, after the choice of gemstone. Platinum is a prestige choice of metal, often chosen for its’ sophisticated and luxurious appeal and popularity amongst the rich and famous, so accordingly it will have the price tag to match.

However there is an alternative metal called palladium that is an inexpensive alternative to white gold or platinum. It can give you the same look as platinum without the price tag. You can read more about palladium in one of our previous blog; Palladium Engagement Rings – the affordable yet stunning luxury.

5. Diamonds doesn’t have to be brand new

Given new diamond prices these days, you can reduce the cost of your stone by choosing one that has been pre-loved. You can in fact save anything up to 50% of the cost as new this way. We always have a selection of pre-loved diamonds available in various sizes and shapes, and we’re finding that in the economic climate, more and more customers are considering this option.

As you may now, diamonds are one of the toughest substances, and once they’ve been cut and polished, they tend to stay looking as good as new. Obviously, if you still want the same size ring as your favourite star you will still pay more for it. So choosing a pre-loved stone is the perfect way to achieve that look at a lower cost.

So as you can see, just like the copies of the evening dresses you’ve seen in stores, there are plenty of ways you can wear a star-inspired engagement ring without the star-inspired price tag. Find out more about the 4C’s of diamonds in our Diamond Education section.

When you’ve finally decided on your ring, please don’t forget that the total value of your jewellery collection will have increased. So it’s important to have your jewellery re-valued for insurance purposes. Read more about the importance of valuations here.

If your engagement ring is inspired by someone famous, or you’re considering having one made, we’d love to hear all about it!  Leave us a comment below or get in touch with us here. You can also call into our showroom in Leeds city centre at 1 Lands Lane.