How to Purchase a Wedding Ring
When you purchase a wedding ring, here are things to keep in mind.
Size Up Your Spouse
If you are going to purchase a wedding ring, this is the person you are going to spend the rest of your life with so you learn about or know their jewelry tastes. Maybe they have already told you what they like or want. If so, skip the rest of this paragraph and head to the budgeting area.
If you have not had a discussion about jewelry preference, we offer some suggestions.
- Determine their tastes. Do they prefer classic jewelry? Modern? Vintage? One of a Kind?
- Do some research and determine if they have they posted images of rings or “LIKED” some items on Instagram, Facebook, Twitter or Pintrest with common features. Do you denote a them including any of the following: Halo, Solitaire, Cluster, White Gold or Yellow Gold?
- Do they have any allergies to specific metals? Use friends and family to answer the allergy questions. Also ask them for some insight into your prospective spouse’s preferences.
- Bring a ring to find out what size your new treasured ring should be (jewelers can almost always resize rings but it is best to size a ring as little as possible).
Determine Your Budget
Big. Expensive. Two months salary.
These are all stereotypical things that come to mind when one is ready to purchase a wedding ring.
Figure out what you can afford first. A reputable jewelry salesperson will make this one of their first questions, “What is your budget?” They do this so they don’t waste your time or theirs. If you can only afford $5,000 for your ring, showing you settings that cost $20,000 makes no sense.
Remember that supplying your own stone or trading in preowned or estate jewelry will reduce your final price. Most independent jewelers will have experts on staff who can quickly evaluate any jewelry you have. In a lot of cases, they will make both a cash offer along with an higher offer of store credit.
Get Educated via Your Jeweler
Now that you have an idea of what you are looking for AND know what your budget is, it’s time to go shopping. We always recommend using an independent jeweler when shopping even if we do not get a sale in the end. Why? Generally an independent will have more experience, lower margins, and a desire to have lifetime relationships than the chain jewelry store salespeople. We suggest visiting two or three jewelers if you do not have a relationship already. This ring represents something that is going to last a long time!
Click here to learn from the GIA about the 4c’s to you (cut, color, clarity, and carat weight). Each of these characteristics is going to impact the cost of the diamond or diamonds when you go to purchase a wedding ring.
If you do not already have a stone, the jeweler will usually reduce their price if you buy the diamond and the ring at the same time. If you are purchasing both, concurrently, and do not get a discount, ASK!
A few years back, marquise cut diamonds were in great demand which drove their price up. Now, years later, it is very difficult to find a willing buyer for a marquise on the secondary market. Remember, tastes change. If you are looking at a trendy ring or cut, you may be paying a premium that could lose its value over time.
One great way to save money is to buy “estate” or previously owned diamonds. The jeweler is able to sell a stone identical to one that is “new” for less meaning you save!
Make an informed, sensible purchase
In the end:
- Learn about your future spouse’s tastes
- Determine your budget
- Compare jewelers and get educated
- Look for and ask about estate diamonds
Following this guide should allow you to make a great purchase that you will love for years to come!
Herkner Jewelers is always ready to help you purchase a wedding ring that you and your spouse will treasure forever!