The Frugal Yankee - Enjoying Life, Spending Less
  • Home

AddThis

Bookmark and Share

TABLE OF CONTENTS

Google Search

Google

The Frugal Yankee Newsletter

Stay informed on our latest news!

Latest audio

Quote of the Week

"There's a time & place for everything. It is called college."

~ Bill Cosby

Browse for audio by

Find Savvy Consumers!

Navigation

Need a speaker for your group?
Think Frugal.
Click HERE
Home
 
WEDDING RINGS: Frugal & Beautiful
Submitted by Garen Daly on Mon, 2009-06-01 07:29.

Be sure to check out Frugal Louise's video with NE Cable News' Karen Swenson on FRUGAL RINGS & VENUES

Purchasing wedding rings are expensive, but being frugal does not mean they can't be beautiful.

In this recessionary economy, there is little downward pressure on wedding rings. Brides.com reports an astonishing 43% increase in engagement rings to an average of over $6300 from two years ago. The price is not helped by that “3 mo. salary” rule promulgated by the industry. It is for their benefit, not ours. Ironically, simple wedding band prices have fallen to $1500 from $2100 in 2006.No matter how you look at it, it is an expensive minefield. The Frugal Yankee put together this primer on buying a diaond engagement wedding ring. Hopefully, the beautiful ring you buy for your squeeze is a frugal one as well.

#1) FAMILIARIZE. 
Go to stores, look at web sites, ask friends and understand settings. For example, here are two traditional settings:
Solitaire - single diamond held with prongs.
Bezel -  a small diamond surrounded by a border of gold or platinum

#2) GET FLUENT
Learn the 4 Cs of diamonds: carats, color, clarity & cut.

CARATS is size.  Price goes up with carat weight. 
Tip: You get better value at 0.9 carats, or 1.9 carats, just before the next weight bracket & price increase. 
Tip: Consider two smaller stones.  2 - ½ carat diamonds cost 60% of a single one carat.

CUT is most important.  Well cut diamond has more sparkle and life.

CLARITY has to do with imperfections. 
Tip: Most diamonds have some flaw

COLORusually has some yellow or grey. 
Tip: Set a yellowish stone in yellow gold. It'll look brigter.

#3) WHERE TO FIND
There are many sources for diamonds: Stores (indie & chain), internet (idonowidont.com, etc), pawn shops, auctions, even attics.
Remember you are looking for one that suits your taste and wallet. Don't fall into the hype the industry throws at you.

#4) GET GRADED
Secure a grading AND a genealogy report. Most reputable dealers will provide these. This is your assurance that what you're paying for is what your getting. The genealogy report lets you know it isn't a 'blood' diamond.

#5) GET IT APPRAISED
Take it to an independent appraiser. If you have to buy it first, insist on getting a written return policy after appraising. Again this assures what you get is what you think you're getting.

#6 OTHER TIPS:
• Use the internet. Sites like http://www.idonowidont.com/ sell jewelry other folks are getting rid of. There are deals to be had there, but as always, be savvy. Do your homework first.

• If using a store, find one you trust. Independents score better than chains.

• Reputable jewelers can, and will supply, a industry generated buying booklet.

• Use Jewelers who are affiliated with the Jewelers Association or other trade group.

• Buy from jewelers who offer reasonable return policies.

• Have the jeweler laser an ID number into the diamond. Good for insurance purposes as well as resizing and other repairs.

• Maintain a relationship with your jeweler for re-sizings etc.

The bottom line is simple. The buying of a wedding ring is an expensive, life time event. Take your time. Do your homework. Then find one that suits you and your future partner. Good luck.


» login or register to post comments

User login

FRUGAL YANKEE on TWITTER

Google Ads

The FRUGAL YANKEE on


© Copyright 2010 Zeotrope Media, Inc.