It’s time to pop the question and you’ve got the perfect engagement ring in mind. Like most couples, budgeting for an engagement ring is a big consideration. According to The Knot 2020 Jewelry and Engagement Study, the average cost of an engagement ring is currently $5,500. Imagine being able to allocate some of these funds to the wedding of your dreams, instead?
There are a lot of different factors that affect the cost of an engagement ring, especially in a diamond ring. Things like the 4 C’s (cut, color, clarity, carats), metal choice, where you choose to buy, customizations and more all affect the final cost.
What if we said there were several subtle measures you could take to drastically reduce the overall cost of your stunning engagement ring? And, that you DON’T need to spend an exorbitant amount of money on a beautiful engagement ring?
Yep – you read that right! Our experts work with happy couples everyday purchasing beautiful, unique engagement rings at an incredibly affordable price. These are a few of our top tips to cutting costs and getting a good deal on an engagement ring.
Shoppers have more purchasing power than ever when it comes to where to buy jewelry pieces. Consumers are leaning into E-Commerce for a reason – it’s more affordable! One of the biggest desirable factors to purchasing online is an overall lower cost for fine jewelry pieces. Due to the lack of overhead costs compared to physical stores, many online retailers can offer the same quality pieces at a lower price. Plus, you usually have a wider selection to choose from since an online gallery reflects everything a jeweler can design, and orders are then made-to-order.
A diamond ring of the same shape, quality and style will likely be significantly less in price online compared to its in-store counterpart. We’re talking about hundreds to even thousands of dollars for the same quality and style.
Probably the most significant way you can save money on your engagement ring is by opting for a dazzling, modern moissanite engagement ring. It’s the stone you’ve been hearing all the buzz about in its rise in popularity, and for a good reason.
Visually, moissanites and diamonds are almost identical. A skilled diamond professional will be one of the very few to accurately tell the difference between a diamond ring and a moissanite ring with the naked eye! Both are bright, will sparkle and beautifully reflect light.
Moissanite engagement rings will last for a lifetime of daily wear similarly to diamonds. Similarly, they are the second hardest gemstone falling just behind diamonds. Unlike cubic zirconia that will quickly scratch, the makeup of moissanites compared to diamonds is almost identical.
If you’re debating between moissanite and diamonds, the cost factor could sway you to choose moissanite! The differences are shocking. A diamond compared to a moissanite of the same size prices begins at a $1,500 difference. A one carat diamond can cost anywhere from $2,000-$20,000, and moissanite of the same size will be $400-$600.
Opting for a beautiful moissanite engagement ring can save you thousands of dollars for a ring of the same size, shape and similar visual properties as its diamond counterpart. View the TwoBirch moissanite selection here.
Opt for A Halo Setting
Hoping to get an engagement ring that appears larger than life? You don’t have to break your budget to do just that! Halo engagement rings often appear bigger and better due to the circle of diamonds surrounding the center stone. This adds extra dazzle and really elevates the entire look of the engagement ring, without drastically bringing up the price point.
White Gold vs. Platinum
Ready to pick your engagement ring setting? Visually, 14K and 18K white gold is going to look the same as platinum, but platinum will be much more expensive. The difference is that gold is often mixed with other metals when making an engagement ring. With platinum, much more material is required, but it will make for a more durable ring in the long run.
Stick to Certified Diamonds
When you’re shopping for a diamond engagement ring, sticking to certified diamonds will ensure you’re paying the right price for your ring. These certifications detail the characteristics of the stone and its appropriate grade.
Finance Your Ring
At TwoBirch, we offer flexible payment options for all of our handmade jewelry. Qualifying customers can finance their ring with no interest or fees, ensuring you don’t have to miss out on the engagement ring of your dreams when money is tight.
We can’t wait to see the engagement ring you choose! Tag us in your ‘just said yes’ moments on Instagram, @twobirch