As experienced diamond jewellery manufacturers and retailers, we aim to give you a clear idea on how the industry works. There are many processes, suppliers and stores involved in jewellery production – from diamond miners and cutters, through goldsmiths and sales experts. Do you know what you pay for when shopping from reputable and popular brands? Here is what you need to know to buy engagement rings the clever way
It’s no secret that consumers are paying extra solely for the brand label. When purchasing engagement rings from well-advertised retailers, a large amount of the price you have paid covers the company’s advertising – money you could have saved, invested, or simply spent on something else. An investigative journalist revealed in an article that when shopping for engagement rings at large jewellery retailers, customers in the USA have paid up to 2,000% mark ups. On many occasions diamond engagement rings and diamond jewellery are excessively priced because retailers invest in diamonds and jewellery pieces they have in stock.
Understanding diamond characteristics
We recommend only buying diamonds certified by reputable and independent grading laboratories. The GIA is the most reliable of all and is recognised as the world’s strictest diamond authority and knowledge base to set the industry standards. Our advise is to always research and educate yourself on all aspects of precious stones and metals before making a significant jewellery purchase. In-house certificates could be biased and often based on a single gemologist’s opinion, rather than objective scientific criteria. Find our more about GIA and diamond certificates here.
Choosing reliable jewellery retailers
Beware of offers promising discounted diamonds – if it seems to good to be true, it probably is. If you decide to purchase engagement rings on offer, make sure you read the small print and understand what you are buying. Avoid in-house certified diamonds and make sure you shop from reputable dealers. For your protection, always check the store’s return policies and customer feedback. We advise investing in high quality engagement rings from reputable merchants only.
Budgeting the right way
Set a budget you are comfortable with – how much you will spend on an engagement ring is entirely up to you. Forget about the 3 months salary rule and educate yourself on all aspects of engagement rings. Knowledge and understanding of diamonds and jewellery will help you determine what you want and how much you should spend. Instead of searching for discounted diamonds or engagement rings, you could make a purchase and pay for it over a period of time, sometimes with 0% interest. Choosing this financial path with a reputable merchant promises better quality and allows you to make a good and affordable investment.
How is Steven Stone different?
We source the diamonds only once you have found your perfect stone -our database has more than 185,000 diamonds to choose from, allowing you to make an informed decision. This practice allows us to offer the best stones, achieve the highest customer satisfaction and save you money. Our engagement rings and jewellery are made in house from start to finish, to ensure you get the best quality and spend less on your purchase. This also means that we can give you exactly what you want, instead of pushing jewellery we have in stock. We regularly price match our diamonds – our prices are always up to 50% lower than high street retailers and 25% lower than the most competitive online diamond retailers.