I just bought an engagement ring, myself, so I have lots of good advice, and this is straight from my jeweller.
1. Buy the diamond loose , from a wholesaler, or from a jeweller who sells them wholesale. The diamond is 80-90% of the price of the ring. Also, if you buy just the diamond, and the girl breaks up with you before you have the ring made, you can sell it and get your entire investment back.
2. Get the ring custom-made. It doesn't cost much to do this, and you get to tell your fiancee that you had it made especially for her and there is none other like it in the world.
3. Don't necessarily get a large diamond. Getting a ring with 3 smaller stones that add up to the size of a big one is less expensive, and just as visually appealing
4. Don't let someone talk you into a diamond that is flawless. SI grade has no flaws that the human eye can see without magnification. You can get a much larger stone in SI grade for the price you'd pay for VS, or VVS.
5. Diamonds come in custom colors. All the colors of the rainbow. This makes a unique ring and colored diamonds are not graded by GIA, so you can get them cheaper than colorless ones. Go on eBay and search on "colored diamonds" for examples.
6. Don't buy platinum! Platinum used to be very rare, and thus, very trendy. It is not rare any longer now that the cold war is over, yet the price has not come down to match. It is inferior to white gold in every way, yet more expensive. It is softer (scratches easily and stretches), and has less tensile strength (danger of losing the diamond!) than white gold. Jewellers try to make platinum look good to you because it is easier for them to work with. Don't fall for it.
7. The most important aspect of a diamond is the Cut. (Carat, Clarity, and Color are not as important) Ideal cut is what makes a diamond sparkle. Do not settle for "just a few microns short" of ideal. It's all about geometry. An ideal cut diamond will reflect 100% of the light that enters it from the TOP. Less than ideal, and you get less than 100% and the diamond looks dirty all the time.
8. Adding to #7, an ideal cut diamond does not require the sides or bottom of the stone to be exposed to light in order to sparkle, since the reflected light is from the top. This means you can have a solid bezel wrapped around the stone if you wish, or mount it flush on the band. My jeweller told me that an ideal cut diamond can be painted black on the sides and bottom and will still sparkle.
Hope this helps. The one I'm having made will be ready at the end of the month, and I'll post a pic here if I can.
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Wait a minute! Where am I, and why am I in this handbasket?
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