How to Avoid Overpaying For an Engagement Ring

You know I love sharing tips on how to get a great deal on a diamond engagement ring. And that extends to dispensing buyer beware advice too.

Overpaying for an engagement ring

There are always red flags whenever you make a large purchase – think of that sixth sense you get when a car dealer is trying to sell you a lemon. And because you know I love me a great engagement ring/car analogy, let me assure you the very same thing can happen with unscrupulous diamond dealers and jewelers.

How to Avoid Overpaying For an Engagement Ring

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Whenever the price is high and the product is complicated, some sheister is going to attempt to take advantage of people who aren’t experts in the field. Don’t let this happen to you. There are a few super easy ways to avoid getting ripped off on an engagement ring

Make sure you always read the fine print! If a price for a diamond seems too good to be true, this is the first place you should look to ensure you’re not buying a diamond simulant (like a CZ or moissanite) cleverly presented to mimic a lab-grown diamond.

How to Avoid Overpaying on an engagement ring

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This is also so important when shopping for diamonds online, to ensure you’re not buying a diamond based on certificate alone. A diamond’s certificate might not account for flaws you’d easily spot in person, rendering that awesome deal a dud. Like the fine print on a certificate saying “cloud” – a gathering of pinpoint inclusions that individually wouldn’t affect a clarity grade but all together make a diamond significantly less mouthwatering (read: gross.)

Shopping online for diamonds is a great way to scope out pricing, but remember that you need to compare apples to apples. Not all certificates are created equal, and even among GIA certified diamonds, each stone is unique. Each diamond with a VS2 clarity grade has different internal characteristics, and even if all other grading criteria are exactly the same (1 carat, G color, excellent cut, etc.) you need to see a diamond in person to determine its beauty. SHopping online often means those big retailers have never even seen the diamonds themselves – they source them from a network of diamond dealers at a major discount. If the diamond couldn’t sell at a brick & mortar store, it’s just not that beautiful. That discount isn’t doing you any great favor.

How to avoid overpaying on an engagement ring

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When you’re shopping for designer engagement ring settings, make sure you shop at an authorized retailer. When you buy a designer ring, you’re not just paying for a recognizable name engraved on the inside of your ring. You’re paying for superior craftsmanship, higher quality materials, and generations of trade-secret techniques. Most importantly, you’re paying for the designer’s warranty. They stand by their rings for a lifetime, that’s something you won’t get from someone who’s knocking off their rings.

 If you are buying a certified diamond, but you have any suspicions that the certificate is forged or even tampered with, never hesitate to reach out to the lab and ask for a copy of the report. They can look up the report number in their database and give you the information you need to ensure that the diamond is what the jeweler says it is!

How to Avoid Overpaying For an Engagement Ring

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If you want more ideas on how to save money when shopping for an engagement ring, make sure you read past posts like:

What Determines Diamond Pricing

Should You Ever Buy an EGL Diamond?

Want to Finance Engagement Ring Dreams?

Buying Diamonds Online vs. In Store

Overpaying for an engagement ring

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About Liz at Designers & Diamonds

I'm the marketing director for Raymond Lee Jewelers, the voice behind Designers & Diamonds, and the crazy woman obsessively live Tweeting the lack of jewelry coverage at red carpet events.

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  1. Pingback: Perfect Pear Shaped Engagement Rings - Designers & Diamonds

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