How To Get The Best Value When Getting Your Engagement Ring
Everyone knows that saving money is easier said than done. However, it can be done by being smart about the right things when it comes to your engagement ring.
First of all, ignore anyone who advises you to spend three months’ salary on a personalized engagement ring; you do not need to break the bank or spend some arbitrary amount to get your loved one a dazzling ring she will cherish for life.
In our experience, it is advisable to progressively set aside small amounts instead of trying to save a considerable amount at one shot. This may come from regular contributions from your salary and even the occasional budget-conscious choice from everyday decisions that can accumulate to a significant sum.
With forward planning and well-thought-out moves when purchasing your ring, you can reap long-term benefits and avoid high-interest credit cards and financing.
Here is how you can get the best deals on your engagement ring and ensure you have some left over for other important things, such as other aspects of the proposal, wedding, honeymoon and home.
1. Set a budget limit
One of the easiest ways to overspend on an engagement ring is not having a precise ceiling to work with. This makes it easy to fall in love with a specific stone or ring design and ignore the expensive price tag attached to it.
When you plan to shop for the ideal ring, we believe in keeping a reasonable amount in mind to represent the maximum you are willing to invest in it. Once you know that goal, saving to meet that goal will be much easier, and you will be less likely to be swayed to spend more than you planned for.
With a little research and the right help from our popular engagement ring Masterclass, making intelligent decisions with financial discipline will help you get your dream ring without financial stress and anxiety. After all, what matters is focusing on your partner and this next milestone you will share together.
2. Do not focus on the branding
When purchasing the ring, many buyers may ask themselves if a branded engagement ring is worth the premium.
A misconception we hear constantly about engagement rings is that the more luxurious the brand, the better the diamond and ring quality. People may see this as a fact because getting a personalized diamond ring from a luxury brand like Tiffany & Co. or Cartier is something you see in advertisements and magazines constantly.
In many people’s minds, the benefit for them is saving on research. Even if you purchase the jewelry blindly at a decent brand, you will still have a respectable-looking ring. However, note that these high prices do not necessarily guarantee better quality in your gemstone or your setting.
One thing about buying from a luxury brand is that you are paying for much more than the inherent value of the gem or the design. The price tag often includes other costly inputs such as a store’s expensive rental and costly interior design. With millions of dollars going into marketing expenditure and a portion of sales going to salespeople’s commissions, this means forking out two or three times the price does not actually guarantee you the absolute best end product.
In our experience, the most important factor in a proposal is injecting a sense of meaning and uniqueness to the whole experience - and that includes your engagement ring. Thus, designing your ring is an experience to be enjoyed with real time and effort put into it so that you are not merely buying something off the shelf that has been pre-made.
After all, going the custom route allows you to invest fully in the quality of your gemstone and design as opposed to paying for marketing. You may also conceptualise something specific to your love story and make changes until you are completely happy with the end result. This means engaging in an experience that you can talk about for generations to come, elevating your ring into a family heirloom with a story.
3. Revamp a ring or redesign a family ring
If you want to design that dream ring, you do not necessarily have to do it from scratch. You could potentially use jewelry handed down from your parents and adapt those pieces to create an entirely new ring for your significant other.
Because designing a unique engagement ring in Singapore also depends on the materials used, you also have the option of sourcing your own gemstone since it can help you save the costs of starting from scratch. This allows you to splurge on more elaborate designs for your ring.
4. Consider a coloured gemstone
Should you wish to go for a unique, eye-catching style, consider using colored gemstones instead of diamonds. After all, diamonds did not become the go-to choice for engagement rings until 1947. Before then, traditional engagement rings often included Sapphires, Emeralds, and Rubies.
While diamonds and other gemstones are hard to compare directly, gemstones are not any less attractive than diamonds. Moreover, they usually offer excellent value for money. By selecting colored gemstones, you can save a considerable amount.
Since they are cheaper, you can afford a much larger gemstone. Not to mention, certain colored gems such as Sapphire are durable enough to fare well in daily wear. It could even be a bonus to procure a gemstone in your significant other’s favorite color.
When going the gemstone route, you can always consult August Bespoke. Not only are we known for selecting exceptionally dazzling gemstones in our rings, we also offer timeless, bespoke designs and an impeccable experience. We can guarantee you a stunning and personalized ring that can impress your loved one.
5. Opt for a lab grown diamond
One way to save a significant amount on your engagement ring is to opt for a lab-grown diamond engagement ring in Singapore.
Given that a lab grown diamond is chemically, optically and physically identical to a natural diamond, it can give you the same look at significant savings of almost 40%.
Side Note: Regardless of whether you choose a natural or lab grown diamond, it is important to purchase one that has the best cutting and that comes certified by a reputable laboratory (all August Bespoke lab grown diamonds come with certification). After all, it is the cutting which makes the biggest difference in a diamond’s beauty.
Conclusion
Your engagement ring is an important part of your proposal that reflects the love you have for your partner. While fretting over the ideal ring is expected, it does not have to be a huge struggle.
When creating your personalized engagement rings, our jewelers are happy to offer their expertise and knowledge in designing the perfect ring for your partner. We will also show you drafts of your design to ensure you are satisfied with it before crafting the ring. Hence, you can be assured that we never compromise on quality.
To help in your designing process, get her to take the 7-Question Ring Style Quiz and don’t hesitate to book an appointment with our jewelers today for more detailed recommendations!
If you are completely lost about starting the process, we also recommend our popular FREE Masterclass for tips to avoid making a $10,000 mistake while getting your perfect ring.
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