Our insider's guide to buying a diamond engagement ring on a budget

Posted in: Engagement

Learn our insider tips and tricks for maximum bang for your buck when buying a diamond engagement ring on a budget!

1. Buy diamonds at a ‘light carat weight’

Purchasing diamonds slightly under standard weights or ‘light carat weight’ is a great way to save money. For example, buying a 0.90 carat diamond instead of a 1 carat diamond of the same quality can save the buyer a few hundred (or even thousand) dollars. Appearance wise, you won’t notice very much difference at all and you will avoid paying the extra premium.

The following is a snapshot from diamonds.co.nz, comparing diamond prices of 0.90ct – 1.00ct D SI1 round diamonds, showing a saving of over $2,500: (prices shown exclude GST)

And the same for 0.45ct – 0.50ct D SI1 round diamonds, showing a saving of over $500: 

2. Diamond cut is important

Diamonds that are cut well will reflect the maximum amount of light back to the viewer, enhancing not only sparkle, but size too. The sparkle from a well cut diamond will catch the eye of onlookers more than a poorly cut larger diamond. In any diamond purchase, we recommend to not forfeit cut for size, whatever your budget might be. 

You can learn more about diamond cut on our education portal or ask our diamond experts for their opinion on a stone you might be interested in. 

3. Round diamonds are more expensive than fancy shapes

Round diamonds are arguably the most popular diamond shape on the market and account for over 75% of all diamond sales. Round diamonds command a higher price than fancy shapes (Oval, Emerald, Pear shapes etc.) of equal size and quality. This is because you can get more yield from the rough diamond for fancy shapes and rounds are priced accordingly to allow for the amount of diamond lost when cutting the rough. 

4. If size matters, choose diamonds that appear bigger on the hand

Oval and pear shape diamonds, for example, appear bigger on the hand than a round or princess cut of equal size because of their elongated shape. They also help shorter, wider fingers appear slenderer, which is a bonus and are a unique alternative to more popular shapes.

Try our virtual try-on to see what different diamond shapes and size look like on the hand!

5. Ask an experts opinion

You may want an opinion on a particular diamond you are interested in or to ask questions for a better understanding of diamonds generally. Diamonds have many variables and it often takes a trained eye to help you find the best diamond for your budget, so don’t be afraid to ask!