Best Value For Diamond Engagement Rings
While you may not think of the warehouse club that specializes in bulk items as the place to buy an engagement ring, Costco is known for its low markups. This retailer’s ready-to-ship diamonds come with GIA certification and are a great option for those looking to avoid hefty markups.
Before you start shopping, set a budget so that you can get the best value and not spend more than you can afford.
Costco
Costco sells bulk groceries and home goods, but the discount retailer also has a selection of stunning diamond engagement rings. The website lists rings with stones up to 10 carats, ranging from $159 to $420,000.
The prices at Costco may be lower than at traditional brick-and-mortar jewelry stores, but there are a few drawbacks to shopping there. For one, the store’s staff does not have the specialized knowledge to give you advice on jewelry purchases.
Another drawback is that Costco does not offer resizing or other services, which can be a deal breaker for some shoppers. However, if you know your partner’s ring size, you can avoid this issue by purchasing a ring online and taking it to a local jeweler for servicing.
To help you find the best value for your budget, GOBankingRates scoured Costco’s site to find gorgeous rings that provide great value. We compared these rings against those at Zales, James Allen and Blue Nile to see how they stack up.
Tiffany & Co.
Tiffany & Co is a global design house that has been at the forefront of jewellery innovation for over 160 years. It has helped write new chapters in the books of love and romance, creating pieces that are beautiful and inspiring. Its diamonds are no exception, combining the classic four Cs of quality-cut, clarity, color and carat weight.
The company’s storied history includes customers such as Presidents- including Abraham Lincoln and John F Kennedy; European royalty; and preeminent American families like the Vanderbilts and Astors. Its distinctive blue boxes and shopping bags are iconic symbols of luxury and elegance to this day.
Costco has reasonable prices compared to other jewelers, but it does not offer the opportunity to customize your ring and it does not sell GIA-certified diamonds. On the other hand, online retailers like James Allen allow you to customize your ring, and their diamonds are backed by a GIA grading report. They also offer a 90-day 0% interest credit card that gives you more time to pay off your ring.
Local Jewelers
Buying an engagement ring is an exciting life event, and you want to be sure that you get the best quality for your budget. Purchasing from a local jeweler will give you an experience that is far superior to that of national chains and online retailers.
Local jewelers love their work and take pride in offering a wide selection of beautiful jewelry at reasonable prices. They also understand the four C’s of diamonds and will help you understand what your budget can truly afford.
For example, if you’re looking for a natural-mined diamond for under $2,000 you should expect to be able to buy about a 0.5-0.6 carat stone. However, if you’re willing to shop for lab-created diamonds you can easily find a 1 carat diamond for the same price! Consider shopping with a jeweler like Clean Origin, who offers pre-screened lab diamonds, or With Clarity for rings that come with a free try-on at home and free resizing.
Online Jewelers
Online jewelers are quickly becoming the best value for diamond engagement rings. They offer competitive pricing along with a large selection of conflict-free diamonds and beautiful settings. While some men worry about getting scammed when shopping for a ring online, there are plenty of reputable vendors that make the experience safe and easy.
Some of these include Blue Nile, James Allen, and Brilliant Earth. While they might not offer a hands-on experience like in-store purchases, they have exceptional imagery that allows you to see each diamond up close.
Online retailers also typically don’t charge sales tax. This can save you a significant amount of money, especially if you live in a state with high sales taxes. In addition, they often offer return and exchange policies that are more generous than physical jewelry stores. This gives you peace of mind and the freedom to shop on your own time without being hassled by salespeople. This is an important feature for those who are shy or prone to anxiety.
