Private jeweler and diamond expert Dan Moran’s advice has been sought after by clients all over the world to help them get the best possible deal on a diamond they can.
Dan realizes that buying a diamond can be a daunting experience and that by leveraging the expertise of someone like Dan, clients can save potentially thousands of dollars on a diamond and an engagement ring.
Dan’s compiled this list of his advice for getting the most out of your budget.
Read on, and if you’d like a free consultation, contact him here.
Eight Tips to Save Money on a Diamond Engagement Ring from a Diamond Expert
- The most important of the 4 C’s of diamonds? Cut. Never skimp on cut: cut is the most important of the Four C’s. A diamond’s only job is to sparkle and be beautiful, and it’s the cut that unlocks the beauty of the stone. Read more on a diamond’s cut here.
- The Shape of the Diamond: Consider changing shapes to save a little money. Round diamonds command a premium price in the market due to their popularity. Consider a different shape to squeeze a little more out of your budget.
- Don’t shop retail. This is one of the easiest ways to save money on a diamond ring. Work with a wholesaler and save yourself thousands by not shopping at a big box store.
- Don’t rely on the certificate. Just because the certificate says something doesn’t mean it’s true. Color and clarity are subjective and depending on the person grading the diamond that day at the lab, you can get a variety of opinions. This is why you should work with a trusted jeweler and leverage their expertise.
- The least important of the 4 C’s? Clarity. Just like cut is the most important of the 4 C’s, for us, clarity is the least important. Don’t put too much importance on clarity. Read more about clarity here.
- Look at comparable stones. Before you buy a diamond, you want to make sure you understand the market value of diamonds. Do you see a stone for $5,000 that is being sold for $8,000 elsewhere? Similarly, do you see a similar stone for $3,000? As a general rule of thumb if a deal seems too good to be true oftentimes it is. Maybe the $3,000 stone is cloudy or has an ugly inclusion. Maybe it’s synthetic or a lab grown diamond. Which leads me to my next tip…
- Will the jeweler you bought the stone from offer a trade-in guarantee? The seller should want to work with the diamond they sold you in the future. If they do not offer you a trade-in policy, you should ask yourself why that is. You don’t want to purchase another person’s undesirable diamond and you definitely want to make sure they warranty their work.
- And the number one tip on how to save on an engagement ring is… Educate yourself! There’s no substitute for knowledge and knowledge is power! So be sure to read up and do your homework and download our free guide, How To Buy a Diamond in 10 Easy Steps.
If you’re ready to start looking at diamonds or creating the ring of your dreams, contact Dan Moran at Concierge Diamonds today for a free consultation.