Many couples quickly learn that one of the largest expenses in their relationship are the diamond rings associated with their newly found love. Together, an engagement ring and eternity ring can cost as much as the wedding itself…or more. It can even be as much as a down payment on a house! For young couples with a strict budget, it’s often a daunting task to find the perfect engagement ring. A lot of factors influence the cost of diamond eternity rings and engagement rings, which is why we are here to provide some insider buying tips. That way, couples can shop with confidence and find the best ring that meets their budget demands. With over 3 decades of experience, we have all the knowledge to help you become an informed buyer. Follow these 5 insider tips when buying your engagement ring and eternity ring.
Wondering why we are talking about eternity rings and not wedding rings? Well, eternity rings are the new wedding ring for modern brides. They are all that a wedding ring is and more. They offer a lot more luxury, style and sparkle. If you want to learn more about this trend, you can read our Eternity Ring vs Wedding Ring post.
TIP 1: Buy Pre-Owned Engagement Ring & Eternity Ring If You Want the Best Deal & The Biggest Size
Some people think purchasing a used engagement ring and eternity ring comes off as being cheap. They infer that “used” is low quality, or at best, outdated. Some even think it is bad luck…
Well, the fact of the matter is, that is far from the truth. Here’s why…
Let’s first tackle the cheap point, in which we are considering “cheap” with a negative connotation.
Buying a used engagement ring and eternity ring doesn’t mean you are cheap. If anything, it means you are thrifty. A smart buyer…
When looking at used diamond rings, you open up your options, allowing yourself to get the best bang for your buck. You can get a ring with larger and higher grade diamonds for the same price as a new ring with smaller and lower quality diamonds. That’s not cheap, that’s smart.
What’s more, buying used diamond rings allows you to retain the value. When buying new, your ring loses value straight off the lot. That isn’t the case with used rings. So, it’s a win-win. You get the best bang for your buck and your buck remains.
Now, to the low-quality point…let’s dig deeper.
When people think “used”, they automatically think “lower quality”. The word “used” oftentimes has a negative connotation. We could replace used with pre-owned, second-hand or even, like-new, it’s all the same when it comes to diamond rings. It’s not like we are talking about shoes or cars that get wear and tear and you have some else’s stink in them. With diamond rings, a simple polishing and the ring is back to looking fresh out of the box, brand new. It is precious metal and diamonds, these natural materials never get old. They last forever. Diamond rings are made from the hardest rock on the planet and the most durable metals with undeniable longevity. So, there is nothing low quality about a used diamond engagement ring.
Now, you may think used rings are low quality because “why would someone want to give up there ring?” Well, there are a whole host of reasons. It may be financial reasons or someone may have inherited it but it isn’t their style. Then, of course, you have broken relationships. However, that doesn’t even come close to making up the bulk of used engagement rings. More often than not it is a financial reason or the previous owner wanted something different.
In the end, if it was low quality, no one would have bought it in the first place and the price would reflect that.
Moreover, a jeweler isn’t going to buy an outdated or low-quality diamond ring from someone. They won’t be able to sell it. They know what will sell because they know what people want. At Diamonds By Raymond and Raymond Lee Jewelers, we buy only high quality, timeless used rings, so anything in our collection will make a modern bride fall head over heels. And, you’ll get it for a great deal because the initial buyer already took the hit.
If you are paying good money for a used ring, you can expect something of greater quality than new at the same price.
Engagement Rings and Eternity Rings are Timeless…
On the whole, engagement rings and eternity rings have a style that is timeless. You can find rings from the mid 1900s that will be considered the most beautiful ring of modern time. Classic styles never get old. It’s almost hard to find an outdated style at a reputable jewelry store. What you are likely to find are classic styles that are timeless and if you are lucky, a vintage piece. What women doesn’t love vintage?
Finally, is it bad luck to buy a used diamond ring? Will my significant other think it’s bad luck? If you are superstitious, that’s on you. Do what you feel will make the best impression.
Do you want a better quality ring for a better price or does your worry of luck matter most? To us, the bad luck point is silly. First, only a fraction of used rings come from a broken relationship. Second, “luck” comes from within, not some inanimate object. Third, it’s going to look brand new and no one will know the difference. Your used ring will be in a gorgeous box. It’s all the same. What matters is what you truly feel and think.
All in all, buying second hand is easily our biggest insider tip for those who have a small-to-mid range budget. It’s a wise move that a lot of people overlook when buying engagement rings and eternity rings. It’s a no brainer to us – new and small vs used, beautiful and respectable in size. You choose. Moreover, with used, you can get a diamond ring from one of the top brands like Tiffany or Cartier for considerably less.
TIP 2: Buy the Engagement Ring & Eternity Ring at the Same Time
When you are buying an engagement ring or any jewelry for that matter, including watches, it’s always best to buy other pieces you plan on getting in the near future right then and there. Why? Because you will surely get a better deal when bundling up a couple purchases.
When talking about engagement rings, it’s only a matter of time before you will buy an eternity ring (or wedding ring, if that’s what you prefer), and likely other stackable rings, as stacking diamond rings with an engagement ring is what every bride desires. So, it makes the most sense to buy them all at once. You could end up saving a lot of money.
What’s more, it will be easy to match up the diamond shapes and sizes, the setting and profile, and the metal type. You can compare and contrast the diamond rings. This is especially important if you plan on surprising your loved one instead of conferring with her on both the engagement ring and eternity ring…Side PRO tip – we recommend discussing these things with your loved one.
What about engagement ring and eternity ring sets?
Although this is an option for those who want to save, it isn’t necessary. Many sets are too uniform, too ready-made and unimaginative. If you find one you love then, by all means, go for it. But, we suggest creating your own “set”. Find a good jewelry store like Diamonds By Raymond Lee and Raymond Lee Jewelers and they will help you create a gorgeous pairing of eternity ring and engagement ring for your significant other. Allowing you to get something exquisite and unique at the best price. It’s always best to consult experts.
As for when you can give her the eternity ring, don’t be shy to give your woman both an eternity ring and engagement ring at the same time. If you know she likes stacking jewelry, then you can be sure she will love being able to stack her engagement ring with an eternity ring straight out the gate. She can also opt to wear it on another finger until the wedding day. Eternity rings can be worn on any finger.
To sum it up, buying an engagement ring and eternity ring at the same time is going to be the best way to maximize your overall budget. You will end up buying the eternity ring (or wedding band) at some point anyway. Even people with deep pockets use this tip when making large purchases at jewelry stores as they know they can get another piece for a good deal.
TIP 3: Custom Engagement Ring & Eternity Ring
If you intend to have a ring made from scratch, it’s imperative that you find a jeweler who does custom rings IN-HOUSE. Almost every jewelry store will offer engravings and custom-made engagement rings and eternity rings, but 9 out of 10 don’t actually do it themselves. They take the order and all the information from the buyer, then outsource it to one of their third-party jewelry makers.
Why does this matter? It matters for a few reasons…
First, not to say it’s a cheap endeavor either way, but you will get a much better price if you go through a jewelry store that does their custom rings in-house because they don’t have a middleman to pay. As a matter of fact, they are the middleman. This one is obvious. The cost difference is significant.
Second, the process is much smoother when working with a jewelry maker who is on-site. You will be able to consult with them every step of the way, ensuring that the end result is exactly as you imagined. From start to finish, you will be involved and you can make any adjustments and changes that you want. What’s more, you can talk directly with the jewelry maker, which is important as they will best understand what you want and how they can execute it. Even if a jewelry store who works with a third-party allows you to be involved every step of the way, it will be an extremely lengthy process as you can’t simply talk directly with the third-party who is making your ring, you have to go through the jewelry store…which leads us to our final point on this matter.
Third, the process is also a lot quicker. With a jewelry store that does their custom engagements rings in-house, you are looking at a week or so to get it done. Depending on how many jobs they have at that moment, it could be more or even less. With a jewelry store that outsources their custom work, you are looking at 6 weeks or more. If time is of concern, forget about going through a jewelry store that outsources custom work.
At Diamonds By Raymond Lee and Raymond Lee Jewelers, we have an expert, master jewelry maker and gemologist on staff at all times. Our jewelry workshop is state-of-the-art and we’ve done countless custom engagement rings and eternity rings, satisfying clients by providing them their dream rings in a short time frame and at a super competitive price.
The engagement ring you are looking at here is a custom ring we recently made at Diamonds By Raymond Lee.
More engagement ring & eternity ring resources to make you a more informed buyer
The Ultimate Engagement Ring Buying Guide
13 Styling Tips To Create The Most Stunning Diamond Engagement Ring Stack
How to Stack Wedding Rings 101
The 4Cs: Choose YouR Perfect Stone
Which of the 4Cs is Most Important?
Diamond Ring FAQ
What Questions To Ask When Buying an Engagement Ring?