5 Ways To Get The Best Deal Out of Your Engagement Ring

It goes without saying that diamond engagement rings are expensive. If you're on a budget, getting an engagement ring doesn't mean you love your partner any less. In fact, it means you'll have more to spend on the wedding, your honeymoon, or just life in general!

If you're searching for engagement rings in Melbourne that are cost-effective, follow these six tips to ensure you get the best deal and ring!

1. Set your budget

Between all the dazzling stones and the enticing spiel of a salesperson, it's easy to forget your budget once you walk into a jewellery store. To ensure you stick to your budget, set a maximum amount you can spend on a diamond engagement ring. And that rule saying the ring's price should be equivalent to three months of salary? Not true. Spend only what you feel comfortable with.

2. Know your 4Cs

Before you buy a diamond, take the time to know its feature. This is where the 4Cs come into play. Here's a primer:

Cut - The cut determines the diamond’s light performance and its brilliance. The cut of a diamond will reflect light within, from one mirror-like facet to another, diffusing it consistently through the crown (top) of a diamond. If it has been cut too shallow and wide, the diamond will lose light through the bottom. If it has been cut too deep and narrow, the diamond will lose light through its sides.

Colour - The colour of a diamond depends on the quantity and nature of trace elements within the stone and how these elements originated. Most commercially available diamonds range in colour from colourless to pale yellowish. There are other colours of diamonds known as "fancy" which can be pink, blue, green, yellow, brown and even black.

Clarity - Clarity determines how clean a diamond is. Diamonds with perfect clarity are very rare, as most diamonds will have microscopic inclusions or blemishes.

Carat - A carat is a unit of weight used for precious stones.

The more perfect a diamond meets each criterion, the more expensive it will be. It's a good idea to decide which of the criteria you care most about. If you're unsure, a good rule of thumb is to compromise a bit in colour and clarity a bit and maximise cut and brilliance. You can also ask your diamond jeweller for advice.

3. Hack the shape

The most popular diamond engagement ring shape is the round brilliant-cut. Unfortunately, it also happens to be the most expensive. But this doesn't mean your search is doomed! Other cuts such as a princess, marquise, and oval can save you a lot and still look as gorgeous as a round brilliant-cut diamond.

4. Go for a halo setting

A halo setting is a circle of smaller gemstones around the centre stone. If you're eyeing a two-carat diamond but can only afford a one-carat stone, opting for a halo setting makes sense. This way, you can go for a one carat diamond and make up the size difference with smaller diamonds around. Another bonus is that this enhances a ring's appearance and lends it a very grandiose feel.

5. Be skeptical
If a seller is offering a price that sounds too good to be true, it probably is. The best thing you can do is to ask friends and family for recommendations or look up reviews online. After all, a diamond engagement ring is probably one of the biggest purchases you'll make so it doesn't hurt to be a bit discerning!

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