Best way to buy an engagement ring?

buzzlightyear

buzzlightyear

Aside from the traditional retail store of course.

Have people had experiences with buying their diamond(s) of choice and then having a jeweller setting it.

I have the idea of the approximate size, cut, clarity, gold colour etc and the design of both the engagement ring & wedding band, I just don't know how good value it is, even if I purchased well, from a retail jeweller. I know mark-ups are pretty amazing in the jewellery retail sector.

Other ways of skinning this cat?! Experiences would be valuable. Thanks
 
You're better off going overseas to do it as the high dollar means you can get an equivalent piece of jewellery in say Hong Kong or the USA for 30% less.
 
I'd go to direct to a manufacturing jeweller. No fancy store, no high rent, choose your stone and have it made.

Has your bride to be had any say in the choice or style? Unless it will be a surprise, why not go together. She may love what you choose, or she may not... but she must wear it every day and have people want to see it. It would be a big plus if she likes it...
 
I agree with Aaron, except engagement ring mark ups in Australia are probably more like 200-300% of the US price.

If you have some idea of what you're after, I'm happy to help you find something. I did a certificate in diamonds and gemstones a few years back. Wouldn't mind having my own jewellery store one day :p
 
Something else I would be happy with (but didn't get a choice in it) would be to buy one or more old rings from Cash Converters (with valuations so you know the quality of the diamonds and can match colour, clarity etc) and take these to a manufacturing jeweller.

I've done that for rings I've had made, using the diamonds from earrings, necklaces and old rings. It is a great way to save a LOT of money.
 
Agree with Wylie, Cash Converters and estate jewllers have some amazing stuff.

Girlfriend of mine is sporting a "new" 2.5kt diamond which her husband bought from one of the estate jewllers in Brisbane. (40th b'day pres)

Paid $16,000 for it ... independant (2 of because they didn't believe the first one :) ) vals of 23-25K
 
Buying from Cash Converters could be a good idea but you need to be very careful and make sure the diamonds come with a reputable certificate (either GIA or AGS). Other grading labs don't use as strict criteria as these two so you can't be too sure of what you're buying (i.e. they may grade a stone as G colour but it would really be a J if it was graded by the better labs).
 
cimbom said:
Buying from Cash Converters could be a good idea but you need to be very careful and make sure the diamonds come with a reputable certificate (either GIA or AGS). Other grading labs don't use as strict criteria as these two so you can't be too sure of what you're buying (i.e. they may grade a stone as G colour but it would really be a J if it was graded by the better labs).
Click to expand...

Who buys G grade?
 
Set up an 'engagement ring trust' (TM). You then have the prospective spouse enter into a lease agreement with the trustee of the trust. 5 year terms with an option of renewal.

The trustee then places a charge over the ring to protection its interest. This is done under the personal property securities act.

In the event of the spouse or yourself becoming bankrupt the trustee would be a secured creditor and this would give in priority over other non secured creditors.
 
Hi Buzz,

I gave my husband the exact style I wanted for my ring. He purchased the diamond from eBay. The eBay store was located in Iran and the diamond was incredibly cheap. (We have had many friends purchase from the same eBay store before so we were confident in the choice). The diamond alone was $1800.

He then had the diamond set through a jeweller. This jeweller doesn't have a normal jewellery store, he usually just purchases second hand gold jewellery from the public. (The jeweller was also used by many of the same friends to set their diamonds we were confident in this choice also.) He charged $700 for a thick white gold band and the setting of the diamond.

He valued the ring, as complete, at $8,000. We also have another valuer look at the completed ring and his value came in at $9,000. I think $8,000 is a bit more realistic.

Hope this helps :)

Selinarra
 
Aaron_C said:
Who buys G grade?
Click to expand...

Many people, actually. A G grade diamond graded in a reputable lab still faces up very white. A lot of people fall in the trap of wanting a high grade in colour because that is more "easier" (for lack of a better word) but don't put much effort in ascertaining cut quality. Cut quality is far more important in terms of the overall look, sparkle and size perception. There are people who know what to look for that go even lower than G in colour because they are familiar with the other attributes that overtake this in terms of aesthetic importance.
 
I met a guy who's entire wedding, honeymoon and ring cost a total of $7k.
I would imagine he too would buy G grade... or lower.

I've gone engagement ring shopping twice with mates who were about to pop the question.

What a crash course education.
 
cimbom said:
There are people who know what to look for that go even lower than G in colour because they are familiar with the other attributes that overtake this in terms of aesthetic importance.
Click to expand...

Well it appears that the only limitation is price. I've looked at the G grade ones before and you can tell the difference quite easily but I guess only if you are looking for it.
 
I saw a report about those man made diamonds, and really like the idea of them, i mean even the pros cant tell unless you look at it under a microscope or some $20,000,000 machine

id rather a bigger/better man made one that nobody can tell the difference vs a real one thats microscopic in size............. hence probably why Im single :D
 
Terry_w said:
Set up an 'engagement ring trust' (TM). You then have the prospective spouse enter into a lease agreement with the trustee of the trust. 5 year terms with an option of renewal.

The trustee then places a charge over the ring to protection its interest. This is done under the personal property securities act.

In the event of the spouse or yourself becoming bankrupt the trustee would be a secured creditor and this would give in priority over other non secured creditors.
Click to expand...

I am not sure if you are being serious?

is a ring that's gifted to to the spouse the property of the wife, or joint property?? or the husbands?
 
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