When you decide to buy a diamond ring for an engagement, you will be overwhelmed by the choices of diamond cut, color, carat and other specifications. There is so much information out there that it brings questions like what are some important factors to consider when buying diamond rings? What are the questions I should ask to make sure I'm getting excellent quality without over paying? If your partner has chosen a certain cut and color, do you have a way to go about selecting the specific one you want? What should you know before spending thousands of dollars on something so small?
Before you do, here are five things you should know:
Diamonds are graded by four characteristics: carat (weight), color, clarity and cut. Carat weight is fairly obvious — bigger diamonds have a higher value. Color is also pretty straightforward — the less color in a diamond, the more valuable it is. Clarity refers to imperfections, while cut refers mostly to the shape and facets of a diamond.
There are many different diamonds out there, and knowing how much of your money should go toward each of the four Cs will help determine what kind of diamond you should buy. If you’re on a budget, consider focusing more on size than color or clarity, since it may be easier to find a large stone with some blemishes than a small stone without any inclusions.
If you're going to be spending thousands of dollars on a diamond ring, don't risk losing or damaging it without insurance in place.
Jewelers and insurance companies often have special policies that provide coverage for loss or damage above and beyond your standard homeowners policy, which may have limits on expensive jewelry.
The term “mine-to-market” is a phrase that is gaining traction in the luxury goods market. It refers to goods that have been created from start to finish by a single company, or without any middle men involved. You may not always be able to find a mine-to-market option, but if you do, it’s worth considering — you’ll save money, and you’ll have peace of mind knowing what you’re getting and where it came from.
Not all diamonds are created equal — or ethically sourced. About one-third of the world's diamonds are mined in violent conflict zones where workers are paid next to nothing and where children as young as four work in dangerous conditions for very little pay, which reports on natural resource issues around the world. The sale of these diamonds fuels armed conflict, human rights abuses and violence against civilians. These conflict diamonds now account for less than 1 percent of the world's supply — down from 4 percent in 2000 — but that doesn't mean consumers are off the hook when it comes to choosing an ethical jeweler.
Conclusion After reading this article, it's clear that you need to do your research and know the right questions to ask. A diamond ring is a big purchase. It's an investment, not just of money, but also of love. You want to make sure you're spending it in the best way possible, while still getting something that is beautiful, functional and even fun. After all, if you don't enjoy wearing your ring, why buy it?
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