Engagement Rings Blog

Buyer’s Guide For Engagement Rings & Diamonds

Based upon the many questions we receive about diamonds and engagement rings, we thought it was important to create a buyer’s guide for engagement rings & diamonds. Since many of people shopping for engagement rings and diamonds are first time shoppers, they are going to have questions that need to be answered. We take diamond education very seriously here at Secret Diamond and so should you. We understand that not everyone out there is a diamond expert and shopping for a diamond can be very confusing the first time you do it. Quite frankly, shopping for engagement rings can be pretty confusing too, especially if you are not familiar with all of the engagement ring terms like "Solitaire" or "Filigree" or "Milgrain". Many people that are in the market to purchase an engagement ring or even diamond stud earrings, have never owned a diamond in their life. And even if you consider yourself a pretty knowledgeable person when it comes to diamonds, reading our "Buyer’s Guide For Engagement Ring & Diamond Shoppers" may help you brush up a bit. Although this guide can’t possibly teach you everything you need to know about diamonds and engagement rings, it will be a very good start on the basics. It will include enough information so that you can start to shop with confidence knowing that you understand what makes a diamond desirable and what is truly a good deal on a quality diamond engagement ring. Come with us as we explore the world of diamonds and help you search for the "Perfect Engagement Ring" for your bride-to-be.

The Diamonds & Engagement Rings Budget Decision

Without a doubt, the first step in purchasing diamonds or engagement rings is to determine how much you are planning to spend. How much you can spend and how much you are going to spend may be 2 different amounts. Although many grooms would like to buy their new bride the biggest, nicest engagement ring that money can buy, the reality is that you may have to settle for something less. Good quality diamonds with a larger carat weight can get rather expensive. (And don’t forget to add the cost of the engagement ring setting) Try not to spend more than you can comfortably afford without going in to much debt if you can help it. Although you could certainly consider taking out an engagement ring loan, starting off a new marriage with the extra added stress of living in debt is not necessarily the best idea. Believe it or not, many couples decide to spend less on their diamond engagement ring than they actually can afford. They may be opting to allocate the money saved on something else, like their new home together or a much needed new car. Or perhaps they have decided to spend more money on the honeymoon or the wedding. Investing the money saved or putting it in the bank for a "rainy day", may not be a bad idea either. Whatever the case may be, deciding on your diamonds and engagement ring budget is the first decision you will have to make when getting engaged.

The Engagement Ring Setting

In most cases, the price of the diamond in your diamond engagement ring is going to account for the majority of the cost, with some exceptions. A Diamond engagement ring really consists of 2 parts, the center diamond and the engagement ring setting. In most cases there is also a 3rd part, the wedding band. However the wedding band is often purchased at a later date and you may have extra time to save for it. However many styles of engagement rings are available in matching engagement ring sets (matching wedding band included) that you can purchase at the same time. If you can afford to purchase both at the same time, you may ask if there is a price break for doing so. It may also be beneficial to purchase both the engagement ring and the wedding band at the same time to make sure they fit together perfectly. But for now, we will just stick to the diamond engagement ring portion of your purchase. Again, the diamond will often account for the majority of the cost. Exceptions will start to take place if you are purchasing an antique or vintage style engagement ring with a lot of extra carat weight of diamonds in the ring itself. Also, some types of engagement ring styles will have very detailed hand engraving, filigree or milgrain details. The more intricate your engagement ring gets, usually the more expensive it gets. Another potential significant cost to your engagement ring setting is the type of precious metal you choose. 14 Karat Gold Engagement Rings will be the most affordable option, in either white or yellow gold. 18 karat gold engagement rings will usually cost a little bit more. ($200 more per ring at www.SecretDiamond.com) That’s because an engagement ring made from 18k gold will have more gold in the ring. 14k gold engagement rings are approximately 58% gold, and 18k gold rings will be 75% gold. More gold in the ring, increases the cost of the ring. That is also why an engagement ring with a thicker band will cost more. The thicker the band, the more gold that is required to make it. The same principal applies to Platinum engagement ring settings. Platinum is the rarest metal on Earth, therefor it is very expensive. A simple solitaire engagement ring setting made in platinum, can increase the cost of the ring by $300 to $500. And if you are buying a platinum ring with a thicker style band, the cost can go up another $1500 to $2500. I have even seen platinum engagement ring settings cost as much as $10,000 with out a center diamond even included yet. Many times they may also have a significant amount of accent diamonds too, which contributes to the overall cost. That is the #1 reason why many people choose not to buy platinum engagement ring settings. A solitaire engagement ring setting will be your most economical choice. Typically they are not overly thick, and a solitaire engagement ring won’t have any accent diamonds to drive up the cost of the setting. So if you buy a solitaire setting, you will have 3 things that save you money. They are thinner, not intricately designed, and have no accent diamonds to drive up the overall cost. Three things that will all save you money. And please don’t feel that you are settling for anything less if you buy a solitaire engagement ring. They have a very simple form of classical elegance to them that has always been very popular in the past, and will always be very popular in the future. Besides, you will have more money left over to spend on the center diamond itself. You can get a bigger and/or nicer diamond. Many couples decide to purchase a solitaire engagement ring band so they can afford a bigger/nicer diamond, and then buy a fancy engagement ring setting in the future when they can afford it easier.

Next we will discuss the all important diamond purchase. Make sure to come back and read the upcoming section of our guide because buying the best diamond for your money is easy to do once you learn how. We will teach what the most important factors are when selecting your center diamond, and teach you a few tricks on how to save some cash.

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