There are many occasions that are great for giving a diamond ring. Proposals, birthdays, and special milestones. But what is the best time to buy this all-important treasure? In this article, we will break down what time of you should look to purchase and why.
That way, when you go to finally make the deal, you will have all the information you need, and get the ring you adore at a price that’s exactly right! Read on for our tips on this topic.
High Times of Year
Common sense tells us that ring buying is linked inseparably to engagement season. The times that a lot of people choose to propose include major holidays like Christmas, some on February 14th, and strategically before wedding season, during the months November through February, according to Glamour Wedding.
Read their article here: http://www.glamour.com/story/happy-first-day-of-engagement
So, because of this, we know that ring prices will probably be running high, due to the sheer volume of demand for them. However, Price Scope says that often companies will have a larger selection during this time of year. So that is a different quality to consider.
Read all about it here: https://www.pricescope.com/community/threads/best-time-of-year-to-buy-a-diamond.11383/
But if you have a proposal plan in place for that special time of year, you may not be able to buy at a cheaper time unless you are willing to wait until the next year, which most people are not. So, that’s the best and worst of high season.
Low Times of Year
The cheapest time of year to purchase a ring would be during the summer because it is pretty much the exact opposite of engagement season, says Exploring Life’s Mysteries. You can view their take on things here: https://www.exploringlifesmysteries.com/best-time-to-buy-engagement-ring/
But then there’s also the idea that there might not be as many rings to choose from. But we have some solutions for that later on.
If you have some time to work out the details, then you are much more likely to get a good price if you search around these months. That’s the great part. The hard part is that this requires some advance planning.
Beyond4Cs also did an industry interview about the best time to buy a diamond ring and the results are polled from jewelers around the world. You can view the results of the study here: https://beyond4cs.com/faq/when-is-the-best-time-to-buy-engagement-rings/
When to Start Saving – Beyond the Dates
It depends on how much you can put away each month or twice a month for this special purchase. If you think you want to spend $5,000.00 or so, start saving at least 6 months prior, we recommend, and possibly longer if you don’t think you’ll be able to save hundreds every paycheck. You might consider taking a full year to save, but a lot of people don’t like that idea because of the amount of patience required.
But what if you are past all this and you want to propose in a few months? Well, you will need to start scouting now, score an excellent deal, and maybe find a way to make extra income in the meantime to put towards the ring. Just use your common sense and you’ll do great!
It is understandable that the ring “seasons” we talk of may not always match up with your ideals or vision. But you still need to buy strategically. Because the best time is always when you can afford it. Otherwise it won’t be the great experience you are hoping it will be.
How to Score a Deal
The best thing to do is to buy during off-season, which we talked about earlier. But this may not be possible for your situation, and if it isn’t then that’s okay! There are still ideas to help you save in this area. One of the best ways to save is to shop online. You will then have hundreds of options readily available, and you don’t even have to leave home!
Some of the best sites to find diamond rings include Blue Nile and James Allen. Both have amazing selections and are well-respected in the industry. You will likely find what you’re looking for with one of them. If not, don’t despair, there are many more sites to check.
You can also, if you are willing and really need a deal, buy a previously worn ring online. This is often a great option because diamonds are typically pretty durable and made to last. So, if it’s a few years old, you will still get a lot of wear out of it. And it will likely be cheaper than it was originally, and you may be able to find something that would be out of your price range if you bought it new. There are plenty of sites for second hand ring opportunities like this.
How to Buy a Good Diamond
All this talk about diamond rings and we haven’t even covered what makes a diamond great quality! It has to do with the 4 C’s which are often mentioned and are color, cut, clarity and carat. Choose a stone that is high in cut and clarity, the largest carat you can afford, and with as little color as possible.
It is also important that you get proof of this through certification. The best is through the GIA, though there are some others that aren’t bad, you just need to do your research before deciding to trust them with the stone.
Give Yourself Time
Once you have the funds in place, you need at least a month and maybe two, to shop and purchase a ring. Why? Because if you want to look in several physical locations or shop around online, you need several days to do this and compare prices. Then, when you have had sufficient time to find one, it will likely need to be sized, or shipped, if you bought on the web, and you need to leave some extra space in case anything has to be adjusted or changed.
Otherwise, you could be looking at a proposal or special occasion gone wrong. You will want to have the ring in your possession at least a week or two before the big day. That way, it’s one less thing to be concerned about when you’re trying to focus on more important things.
This is always a great question to ask when you buy something big or expensive. You may be surprised at the answers you get. There are some things that you absolutely need, like the ability to return if necessary, and then there’s the things that are nice, like upkeep for the ring. Find out what is part of the bargain, what costs extra, and what doesn’t matter for your purposes. But part of finding a great deal is the little extras that are thrown in.
It may not be the case, but you can also check to see if insurance is included or if you might get some sort of discount. This could be a long shot, but you never know if you don’t ask. There are many more things other than these that might be free if you check it out.
Now, you know all about the times of year when diamond prices go up and down, what that has to do with their inventory, how much to save and how to get a good price. These are all pretty important factors when it comes to buying a diamond ring, but there is one thing we haven’t yet mentioned.
The best time of year to buy a diamond ring is when you know it’s the right time. Time to propose, time to give an amazing present of appreciation, time for that next step. Deals and styles come and go, and you will definitely find something to fit your budget, but what is really needed overall is the confidence that you want to make that purchase.
Whatever the occasion is for this extravagant gift, make it memorable. Invite people you love to be there, or go somewhere that is special or unique, or even travel someplace entirely new. Bring the magic of the moment to life and help it to last forever.
Give this diamond ring the big moment it deserves. Not because of what it is, but because of what it represents for you and the wearer. We hope that these tips have pointed you in the right direction for your journey. Good luck with finding the best time to purchase a diamond ring. Here’s a hint: it’s different for everyone.