Buying an Engagement Ring

An engagement ring is one of the most nerve-wracking purchases couples ever make. Not only does the ring symbolize their impending union, but it is also a significant investment in fine gems and precious metals, one that hopefully will appreciate as they accumulate anniversaries.

Steps in Buying an Engagement Ring

While it is possible to walk into a jewelry store and walk out minutes later with a beautiful engagement ring, such impulse buying is not recommended for individuals interested in a meaningful purchase. The basic steps of the buying process for engagement rings should include:

• Studying gem characteristics to learn about diamonds and different gemstones in order to find a quality stone.
• Setting a budget for a quality ring that will not create debt or financial hardship.
• Comparing different jewelers, including online merchants, to determine the available selection and styles in your price range.
• Carefully choosing a jeweler to meet your style preferences and financial needs.
• Examining different types of rings that match your budget and personal preferences.
• Purchasing the ring through wise financial planning.
• Insuring your purchase either through the jeweler’s warranty plan, independent insurance, or other protective measures.

Buyers Beware

It is especially important to approach buying an engagement ring cautiously in order to avoid unscrupulous sellers, fraudulent rings, or other poor deals. Buyers should always investigate dealers through the Better Business Bureau and local Chamber of Commerce to be sure they are reputable. Furthermore, be sure you understand in detail the terms and conditions of the purchase, any payment plans, and warranty options before finalizing a sale.

Choose a Jeweler

After you have been properly educated, it is time for the next step in your checklist for choosing a diamond engagement ring: choosing a jeweler. It is important that you find a reputable, trustworthy jeweler. You can ask for recommendations from friends and relatives, or start with a local jeweler with a long history. Mall stores are generally reputable but have limitations, while independent jewelry stores also have risks, especially if you may be relocating. When in doubt, ask to see the jeweler’s certification and other credentials.

Choosing a Metal

Most engagement rings are platinum, yellow gold, or white gold.

Platinum

Platinum is the strongest metal and is considered rarer than gold. While it doesn't wear, is resistant to damage, and won't tarnish, it can be difficult to repair if it is damaged. Platinum is also significantly more expensive than gold.

Yellow Gold

Yellow gold is the most common and traditional metal for both wedding and engagement rings. 24-karat gold is pure gold, while 18-karat is 1/4 alloy. The higher the purity, the softer and more flexible the metal, making it more prone to damage. Most engagement and wedding rings are either 14- or 18-karat gold. Gold Engagement Rings eventually show wear such as nicks and scratches, but are easily repaired.

White Gold

White gold is measured by the same standards as yellow gold, but is treated to retain a white, silver-like finish. This finish eventually wears off and must be periodically reapplied. White gold is an excellent choice for a unique ring that will match any other jewelry.

Choosing a Setting

Selecting a setting can be one of the most confusing parts of the checklist for choosing a diamond engagement ring. There are many different Engagement Ring Settings. Common settings include solitaires and bridal sets, while channel settings, three-stone rings, and other designs are becoming increasingly popular.

Solitaires

Diamond Solitaire Engagement Rings are single, elegant diamonds that may come in a variety of shapes (heart, marquise, round, pear, oval, emerald, etc.), settings (channel, bezel, flush, prong, tiffany, etc.), and sizes. If you haven't already determined what your sweetheart likes, you might want to take her window shopping to get a general idea. If you would like for the ring to be a surprise, however, you may want to enlist the help of a close friend or relative.