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Money saving tips for buying a diamond ring
When it comes to buying a diamond ring, there are a few tips which can save you some money. We share them with you below:
(i) cluster rings
A cluster diamond ring can give the appearance of a larger diamond but it is, in fact, a cluster of small diamonds. A cluster of say four 0.25 carat each princess cut diamonds in the shape of one 1.0 carat princess cut diamond is significantly less expensive than one 1.0 carat princess cut diamond – with a saving of up to 50%.
(ii) halo rings
Usually, a halo makes the centre stone look larger – for example, a 0.50 carat diamond in a vintage style halo setting can give the appearance of a 1.0 carat or even a 1.50 carat diamond as the extra bling makes the diamond stand out to a greater extent.
(iii) white gold
White gold is a good alternative to platinum and it is also less expensive. Platinum can go dull over time. White gold is easier to work with as a metal as it has a lower melting point (useful if you need the ring resized at a later date).
(iv) Buy the wedding ring at same time
If you purchase the wedding band at the same time as the engagement ring, most jewellers (we certainly do) give a good discount. If you also get the gents wedding band at the same time you can make additional savings. You also ensure that you find the perfect matching wedding ring (same width, same metal, same style etc). These concerns are not always obvious when you shop for you engagement ring but are important concerns when looking for your wedding band.
(v) Alternatives to diamonds
The second most popular alternative to a diamond is a sapphire. These are less expensive than diamonds and similar to diamonds, come in a range of quality. We have access to thousands of sapphires for you to view in our Dublin office.
(vi) Choose your 4 C’s wisely
The more rare a diamond is, the more valuable it is. For example, the rarest colour is ‘D’ colour. A ‘G’ colour for example looks very similar to a ‘D’ and can be up to 15% less expensive. Placing a ‘D’ and a ‘G’ colour diamond side by side, it is difficult to see any difference with the naked eye. However, placing a D diamond with a ‘J’ colour diamond would be more obvious with the naked eye as the ‘J’ colour may appear less white in comparison to the ‘D’ colour. A J diamond on its own can look very pretty and would look white – only if it was directly compared to a whiter diamond would it become obvious.
Clarity is another area where money can be saved. A ‘VVS1’ diamond can be very expensive with a ‘Vs2’ diamond up to 20% less expensive. To the naked eye, these diamonds can look identical with the inclusions only noticeable under a microscope.
Carat size is another area where you can save a bit of money on a diamond. A 0.90 carat diamond can be up to 20% less expensive than a 1.0 carat diamond and again, to the naked eye they can look identical. We specialise in locating diamonds with a good spread which appear larger than they are, while ensuring the diamond cut is very good or excellent. The ‘magic numbers’ as they are called are the carat weights which cause the price to shoot up. For example a 0.50 carat; 0.75 carats; 1.0 carat; 1.5 carat; 2.0 carat etc. A diamond just under one of these magic numbers can result in good savings.
(vii) Jewellers discount range
Most jewellers have a range of rings which they have in stock a long time and they will sell at a discounted price. We at Bespoke Diamonds have a small selection of rings which we have in stock for a long time and we are willing to sell these at cost price. These may be styles that for example we purchased a few years ago and the style of the ring is quite unusual or unique and might suit the tastes of a smaller number of clients. All jewellers would have a range of in stock for a relatively long time which they would sell at a discounted price – they may not be as open about it however!
What metal is best?
When it comes to precious metals, each metal has their own advantages. For engagement rings, we would recommend 18k white gold or platinum or 18k yellow gold. Anything less than 18k is generally not used in Europe as the metal is not as strong.
Foe gents wedding rings, we think palladium is a good, cheaper alternative to platinum and 18k white gold.
I’m interested in buying diamonds as an investment – can you help?
Yes, we specialise in finding the best diamond for our customers budgets whether it be for engagement rings or for investment purposes. We can advise you on the best investment options for you in our Dublin offices. Please contact us to arrange an appointment.
I have a mount, can I just purchase a loose diamond?
Yes, we can look at your mount and advise you on what diamond size would work best for your setting. We can also set the diamond in your mount if you would like us to do so. You can choose any diamond from the 250,000 diamonds we have direct access to.
I have my own diamond – can I just buy a mount?
Yes, we can sell loose mounts or we can have our workshop set the diamond for you in one of your own mounts. Any of the engagement rings in our collection can be purchased without the centre diamond if required.
What diamonds are available?
We have access to over 250,000 diamonds. We have access to diamonds from 0.25 carats to 3.75 carats, in all quality and from different grading bodies. We also have access to thousands of gemstones (sapphires, rubies and emeralds). All diamonds are certified and all of our rings come with an independent valuation report.
How long does it take to get a ring made?
A ring can be made in approximately 3 weeks – this can be even less if it is a simple design. A detailed design may require a bit more time to complete but generally 3 weeks would be sufficient to make most rings
What if you don’t have a ring in stock that I like?
Our website showcases just a sample of our rings. We have many more rings in stock that you can view by appointment in our Dublin City centre offices. However, we can also design any ring you wish through our CAD system and make it completely bespoke for you. Creating a ring can take approximately 3 weeks to achieve (which is much shorter than other jewellers who can take up to 3 months).
Do you do wedding rings?
We, we supply a large range of ladies and gents wedding rings. We encourage ladies to try on a selection of wedding rings with their engagement ring to ensure that they are the perfect fit together (the wedding ring is worn very close to the engagement ring with no gap).
How are your prices so competitive?
Bespoke Diamonds is managed by Peter Fitzpatrick, one of Irelands leading Diamond brokers. Peter has an extensive range of diamond suppliers from across the world. Our ability to buy in bulk along with our reputation in the market allows us to obtain significant discounts that we pass onto you, the customer. Our low overheads and staff costs also keep our costs very low, allowing us to sell our diamonds at wholesale prices.
Are all of your rings in stock?
All of the rings on the website are in stock. As we have a high turnover of rings, it may be that a ring is out of stock temporarily, however, we only showcase a sample of our rings – we have more in stock. Any ring which is sold out can be made available within a few days and in any metal and finger size that you require. We usually replace rings once they are sold.
Do I receive a valuation report?
Yes, all the diamonds that we sell come with a complete and detailed independent valuation report. This is valid for insurance purposes too.
Are your diamonds certified?
Yes, all our diamonds are certified and come with a complete independent valuation certificate. Certificates are from GIA, HRD, IGI Antwerp
What if I need my ring resized?
As fingers can change in size over time, any resizing can be done in our Dublin workshop. It usually takes 24 hours but may be less depending on the resize required
When buying a diamond ring, it is advisable to do a bit of research before you start looking at rings. This will ensure that you are fully aware of the main points when it comes to viewing a diamond and it also ensures that you get the best diamond to suit your budget.
We at Bespoke Diamonds meet people on a daily basis and assist them in understanding diamonds – we are more than happy to assist you in this process also.
For those who would like more information in relation to diamonds, we would advise the following:
– become familiar with the 4 C’s of diamonds
There are many articles and you-tube videos relating to the 4 C’s – I explain them briefly below.
The diamond carat relates to the weight of a diamond. Broadly speaking, the larger the carat, the bigger the diamond, however this is a bit over simplified. It is possible to get a diamond with a larger spread, in other words, it looks larger than it actually is. It is possible to get a 0.90 carat diamond which looks larger than a 1.0 carat diamond simply because the spread of the 0.90 carat diamond is larger. We specialise in identifying excellent cut diamonds which appear larger than they are – our access to over 250,000 diamonds facilitates us to do this.
The more white a diamond is, the rarer it is and the more expensive it is also. The purest diamond is called a ‘D’ colour. The scale runs from D to Z where Z is heavily tinted yellow. We would recommend staying in the range D – I colour and anything below a colour I would result in a tint of yellow in your diamond, which we would not recommend. Most diamonds are in the F – H colour range with very little difference in the look between an F and a H coloured diamond.
Most diamonds contain small markings inside the diamond called inclusions. Most cannot be seen with the naked eye. The range is from IF (Internally Flawless) to I1 (medium to large blemishes)
Scale of inclusions is below.
Similar to the diamond colour, the further right you go on this scale, the less expensive the diamond is. We would recommend not going below a Si2 inclusion diamond as anything below this may become noticeable with the naked eye.
Diamond cut is one of the most important features of a diamond. The cut relates to the sparkle of a diamond. A poor cut diamond will not have brilliance and fire in it. We specialise in only providing diamonds which are a very good to an excellent cut as we believe that a diamond should capture light and sparkle in all its glory. Diamond cut and diamond shape are two different things – the cut has an impact on the sparkle, shape is just the shape the diamond was designed.
We like to add a bit to the 4 C’s and the fifth C is cost.
As we have access to over 250,000 diamonds and are managed by a diamond dealer, we have seen the mark up shops place on diamonds. We encourage you to shop around for your diamond – we sell at wholesale prices and we are confident that we will be unbeaten on both price and quality.
All of our diamonds are certified by the worlds leading diamond grading bodies (GIA; HRD; IGI). Each ring we sell also has an independent valuation certificate. We believe in transparency and honesty at all times. We would also advise people against jewellers who ‘self certify’ their own rings as the details may not be accurate.
We would encourage people to buy from a reputable jeweller and one who offers a complete exchange on goods (like us at Bespoke Diamonds). Given our large range and access of diamonds, if you surprise your loved one with a ring which is not to their taste, we can exchange it for you. All resizing is done in our Dublin City centre workshop – many ‘appointment only’ jewellers outsource their work to the UK, however we believe in quality service and everything we do is with you in mind,which is why we keep everything local. Also any repairs that may be required are done within 24 hours.
For more information we recommend looking at the GIA website which has a lot of useful information about diamonds and gemstones and also their ‘frequently asked questions’ section of their website which is at http://www.gia.edu/gia-faq
Can I return a ring?
Yes, if you purchase a ring for your loved one and it is not the perfect ring, we can exchange the ring for you – you can choose any ring from our large range and any diamond from our range of over 250,000. Customer satisfaction is our utmost priority and we strive to ensure that you have your perfect diamond ring.
If you have any additional questions which are not answered above in our ‘Frequently Asked Questions’, please contact us at email@example.com or contact us on 01-6855800.