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How to Save £4620 on a Gorgeous Diamond Engagement Ring

How to Save £4620 on a Gorgeous Diamond Engagement Ring

Here is a stunning diamond ring. Nice, isn't it? In this article, I'm going to show you how you can get this ring for half it’s normal price.

Round Twist Tension Solitaire Engagement Ring

This particular setting with this particular diamond at this particular point in time costs £9245.

That’s a phenomenally good price for platinum 1.00 carat, F colour, VVS1, GIA diamond engagement ring. Unless you don’t happen to have £10,000 stuffed down the back of your sofa…

The truth is, not all of us can afford to – or wish to – spend almost £10,000 on a ring. The happier truth is, you shouldn't have to.

A ring doesn't have to be expensive to be gorgeous. And the beauty of creating your own ring by choosing the setting and diamond yourself is that you can have a gorgeous ring for whatever price you want.

To prove it, here are four simple steps you can take to save hundreds, if not thousands, on any piece of diamond jewellery you buy.

STEP ONE - Hire a Lookalike

That platinum round twist tension setting up there is lovely, but it would be just as lovely in palladium – a silvery-white metal with a shine that can rival platinum any day of the week.

Palladium may be a fresh-faced newcomer to the jewellery world but with the look and durability of platinum at roughly two-thirds the price, it’s quickly growing in popularity.

Not keen on palladium? Then try 18K White Gold – you’ll still make a huge saving.

OUT:
Platinum round twist tension setting - £895

IN:
Palladium round twist tension setting - £295

New ring price
£8640

Total Saving
£600

STEP TWO - Drop Some Weight

It’s a well-kept secret that diamond prices jump significantly for whole carat weights. A one carat diamond will cost you a lot more than a 0.95 carat diamond, even though there would be very little difference in size.

So what happens when you shave just a little bit of carat weight off your 1 carat diamond? All other factors being equal (colour grade, clarity grade, cut) you can still make a massive saving.

OUT:
1 carat, Excellent cut, F colour, VVS1 clarity, 9.56 DiamondScore - £8850

IN:
0.97 carat, Excellent cut, F colour, VVS1 clarity, 9.55 Diamond Score - £6645

New ring price
£6940

Total Saving
£2305

STEP THREE - Get Some Shade

Talking about colour in diamonds is a little misleading because, of course, diamonds don’t have any colour. Asked to describe the colour of any given diamond, most people would say ‘white’ or ‘clear’, regardless of the actual colour grade.

However, all but the rarest and most expensive diamonds possess colour, yet the faint yellow hues present in most stones are virtually undetectable, especially when mounted in a solitaire setting (i.e. not sitting next to another more colourless diamond).

So let’s swap out your F colour grade diamond for a nice, near-colourless grade:

OUT:
0.93 carat, Excellent cut, F colour, VVS1 clarity, 9.55 DiamondScore - £6645

IN:
0.93 carat, Excellent cut, H colour, VVS1 clarity, 9.25 DiamondScore - £5095

New ring price
£5390

Total Saving
£3855

STEP FOUR - Lose Some Clarity

Of all the Four C’s, clarity is the one that has the smallest impact on the look of a diamond. Diamonds are graded for clarity under 10x magnification and most of the tiny inclusions can’t be seen with the naked eye.

This means that unless you go really low – SI1 grade or lower - your diamond will look as clear as the next, so you can make great savings simply by dropping a clarity grade or two.

OUT:
0.93 carat, Excellent cut, H colour, VVS1 clarity, 9.25 DiamondScore - £5095

IN:
0.93 carat, Excellent cut, H colour, VS2 clarity, 9.02 DiamondScore - £4330

New ring price
£4625

Total Saving
£4620

You've now saved almost more than you've spent, just by following these four simple steps. In fact, you've knocked a whopping 50% off the price of the original ring – and you didn't have to haggle at all.

Most importantly, your new ring is just as stunning, scintillating, sparkling and altogether show-stopping as it was to begin with.

The minor tweaks we've made might have had a huge impact on the price, but the effect on the beauty of the diamond really is minimal. That’s because all the diamonds above have an Excellent cut grade – the best you can get. Cut determines how much fire, brilliance and sparkle your diamond has, so that’s one aspect we’d recommend you never compromise on.

The Quality Diamonds Challenge: How Much Can You Save?

What you've just witnessed is a demonstration – a setting and diamonds picked at random from our website to illustrate how much it’s possible to save with just a few minor changes.

How much you can really save depends on your starting price and how much tweaking you’re willing to do. It’s easy enough to get a £10,000 ring down to £5,000. It’s harder to get a £2,000 ring down to £1,000….or is it?

Start with your ideal diamond then follow the four simple steps above. Once you've played around with the carat weight, colour and clarity, use our ever-so-useful DiamondScore to find the absolute bestest pick of the bunch. The higher the DiamondScore, the better the diamond and the better you’ll feel about your incredible bargain. So, what are you waiting for? Start tweaking and see how much you can save!