There is a popular perception that one has to set aside three month’s salary or something to arrange money to buy diamonds. Unfortunately, thinking that it is the best way to buy diamonds is one of the common misconceptions among consumers about shopping. With proper planning and following the right steps though, you can make the purchase in even better ways.
Of course, you also need to know about the best places to buy for diamonds to start. Then from a finance point of view, you need to have some tricks up your sleeve to make the most of the purchase. So keep the following things in mind to ensure that you get the best deal possible.
Understand the 4 C’s
This is very essential in buying diamond rings, because if you do not understand the basics, any jeweler may take advantage of your lack of product knowledge. However, with appropriate familiarity about the diamond’s 4 C’s – cut, clarity, carat, and color – you will be able to know which ones to give priority to, and which ones to compromise on.
For instance, the combination of a slightly lower clarity grade than the best one with an excellent cut can allow you to purchase what is within your budget. When it comes to the carat weight, buying a diamond that weighs slightly below a standard carat mark often means significant cost savings; if you go for 0.98 ct instead of 1.00, the difference in carat weight remains hardly noticeable.
Besides, nearly colorless diamonds, or those classified under the “F” grade by the GIA, are cheaper than colorless diamonds (those with “D” color grade). This difference in color is not visible either to the untrained eye, but amounts to a lot of savings. You can only make informed choices with sufficient product knowledge though.
Buy Diamonds Online
This is where some of the best deals are on offer for customers. Some online vendorsoffer laboratory made diamonds too, which come at a relatively lower price than the natural Earth mined diamonds.
An artificial diamond is made in laboratory conditions that replicate the natural forces exerted to diamonds underneath the Earth. A lab made diamond comes to the market at a rapid pace as well. That means they are common in the market and are not as rare as natural or mined diamonds. This results in reduced cost.