Two Tips For Saving Money When Buying Diamonds

Many people love the look of diamonds but don't like the price tag that comes along with them. While it is certainly true that diamonds are very valuable, that doesn't mean you have to take out a second mortgage on your home to get one you like. Here are a couple of tips for saving money when buying diamonds for rings or other jewelry.

Don't Confuse Size with Weight

One common reason why people end up spending more than they should on diamonds is that they think a diamond's carat size describes how large or small it is. For instance, they assume a 1.5-carat diamond is significantly larger than a 1.25-carat diamond. However, this is like assuming a car that weighs 12,000 pounds is longer than one that weighs 10,000 pounds.

In reality, carat size only describes how much diamonds weigh. The gem's height and width have nothing to do with it. Thus, if size is the most important thing to you, you can save quite a bit of money by getting a diamond the height and length you want but at the smallest carat size possible. It may take a bit of shopping, depending on where you live and the stores you visit, but it'll be worth the effort when you get what you want at the price you can afford.

Consider Accepting Flaws

Another thing that causes people to spend more on diamonds than they probably need to is they are convinced only flawless gems will do. Unless you plan on reselling the jewelry made using the diamonds at a later date, you may want to consider getting a diamond with a small flaw.

First of all, the flaws in most diamonds are so small they can't be seen with the naked eye. Thus, your friends and family members probably won't notice the engagement ring has a tiny imperfection or low clarity. Second, diamonds with flaws cost less, sometimes priced thousands of dollars cheaper than a flawless gem. If money is an obstacle, choosing something that's imperfect can be a great way to be kind to your bank account.

Plus, you can always sell the diamond and upgrade to a different one at a later date when you have more cash. In fact, doing this can be a wonderful way to commemorate a special milestone (e.g. 10-year anniversary).

For more tips on saving money when buying diamonds or assistance with finding the right gem for you, contact a diamond dealer.