Did you know that marketing budgets is at least twice as much as the production budget of any product? Yes, more than half of what you are paying for in whatever you are buying is to pay for marketing and advertising.
Then, there’s also the mark-up for revenue which is at least another hundred percent. While the mark-up for revenue is understandable, it is still Ludacris for anyone to pay 200% more than the actual value of of any product. That includes an engagement ring.
It’s not about not paying for something you will give your future partner in life. It’s about not getting cheated on especially in this day and age. There are other important things like food and shelter that you could very well use your money for.
So, if you are searching for a budget-friendly engagement ring but wouldn’t settle for low quality gems or cheap designs, check out some ideas below.
Loose and Unrefined Diamonds
A huge part of the cost of engagement rings goes to the time spent on refining the stones or gems. The gems or stones, in their rough, pure form are actually less than 5% percent of the market value. One thing you can pursue is buy loose and unrefined diamonds. There are a lot of stores that sell loose and unrefined diamonds. Online, you may check http://www.johnbetts-fineminerals.com/, http://etsy.com, and http://www.e-jejutrade.com/.
However, I am not endorsing any of the stores mentioned. They are worth exploring because they have been in business for a while and two of them have already established a good reputation even before they opened an online stored.
I still suggest that you to the shop physically. If you already have a regular jeweller, you may ask him or her for rough and loose diamonds.
Remember that the value of diamond lies in the fact that it is the most durable stone or gem in the world. So durable, in fact, that it can only be cut by another diamond. That means that for as long as the diamond you got is real, refined or unrefined, the essence of diamond lies in its durability and the fact that it was created by nature. Refinement is nothing but aesthetics.
There are a lot of jewellery stores that can “melt your existing metals” to create something new. Stores like http://www.greenkarat.com will allow you to send in jewelleries and they will either create a new design for you or execute your own design.
You can ask your family for donation. Ask them to donate to you’re a piece of jewellery they can part with. Pool it and send it over.
If, however, you don’t like the materials of the jewelleries, there are also stores that will allow you to convert the value of the jewelleries you send to a store credit. You can then use that credit to buy from their existing inventory.
The stores, however, will convert only 80% of the value of the jewelleries that you sent. That’s how they earn.
There is nothing wrong with buy a used ring. For as long as the ring was acquired and is being sold legally, you can buy it. Below are some places where you can buy good quality used engagement rings.
1. Pawn Shops
It really is a great place to find good quality rings for almost half the price. However, there are a lot of pawn shops that sell stolen items or illegally acquired items. So, unless you know the pawn shop, don’t go in to buy anything from them.
2. Ask Friends and Family Members
There are a lot of people, especially in this day and age, that are looking to sell some of their jewelleries. Go buy from them. At least, you know they’d be fair (assuming you are in good terms with them and they are the kind of people who won’t cheat friend and families). Just ask around. You’d be surprised at how many people are looking to sell.
There are sites, like idonowidont.com, that sell pre-owned sites. If you can, look for sites or stores that guarantee the quality of the jewelleries they sell. If you are going to buy from sites like Amazon, make sure you know the seller to avoid being duped.
Antiques are valuable. I don’t have to explain why. Just remember that antiques have to be at least 50 years old. Anything newer is not considered an antique.
If you buy an antique diamond ring, it becomes doubly expensive. What you can do is buy an antique ring with a different gem or stone. The photo on the left is a moonstone and it looks stunning. The idea is to ride on the fact that it is antique which means it is no less than valuable but since you are not using a diamond, it will be more affordable.
- It’s old and it should look it. Sellers would rarely restore antique jewelleries so look for signs of aging like dents and scratches on the metal.
- Be aware of the designs that were popular at that time. If it looks modern, it probably is.
- Most antiques have certifications issued by a legitimate organization. Look for one.
- When in doubt, don’t.
Image Credit: http://www.turtleloveco.com/
Auction Starting at $1
Yup! In theory, you can buy real diamonds for $1. However, it’s an auction. So… don’t get your hopes up but that doesn’t mean you can’t get stones for cheap. You will be able to find 1 carat diamonds for less than $500.
Aside from that site, you can also visit Amazon, ebay, and other auction sites online. Just remember to check for feedback about the site from people you consider credible.
Handmade (And I Mean Forged By a Living Blacksmith)
There are very few, and I mean very few, blacksmiths in the world. If you find one that would be willing to hand forge a ring for you, you should die of heart attack. Any hand-forged ring is valuable. Think Lord of the Rings, one ring to rule them all.
Now, the thing is that it is hard to find a blacksmith. You can check out http://www.blacksmithchic.com/. She’s one of the few in the West.
Finally, remember to be patient. Remember that for as long as you have the patience to research, you should be find the perfect engagement ring without breaking your bank.