Buying an engagement ring is an important and exciting milestone in your life. It’s one of the most important purchases most people will ever make. However, when it comes to buying diamond engagement rings, most people don’t know the essential things you need to know before buying a diamond ring.
There’s a lot to consider when buying a diamond ring, like the style you’d like, the quality you want, and what will fit into your budget. Because buying a diamond can be so confusing, we’ve put together this handy guide to help you get educated before buying. And we’ve included one huge money saving tip (spoiler: it involves buying online so you can skip paying taxes).
Without further ado, here are some of the most important things to consider before buying a diamond ring:
Understand What You Want
With so many diamond rings on the market today, it’s important for you to first get some perspective on what you want. You’ll need to understand the size, quality, and style you want, which is easily done by doing a little googling (we recommend starting by understanding the “Four Cs” of diamonds).
Figure Out Your Budget
Once you’ve educated yourself about the basics of diamonds, you should set your budget. It’s important to know what you can spend before you start shopping so you don’t fall in love with any rings that are far too expensive.
When you have your budget in order, you can shop for your ring more confidently. It can, however, get overwhelming to browse through the thousands of diamond ring options online. Luckily, there’s a brand new piece of technology that helps you find the absolute best diamond you can afford: Rosi. Rosi a special blend of algorithm and AI (located over at luxury jeweler RockHer) that finds the absolute best diamond for your qualifications and budget. Using helpful tools like Rosi can help you stick to your budget— without the hassle of sorting through tons of rings.
Save Money With This Priceless Tip
There’s a simple yet effective way to save money on a diamond ring, one that very few people consider: buying from somewhere that won’t charge you sales tax. So where can you buy from that won’t charge you for sales tax? An online retailer that doesn’t have a physical store in your state (like RockHer, which we also mentioned in our last tip!). This tip is simple but can save you huge amounts of money. Saving on sales tax might not sound like much, but when you’re buying an item that will likely cost several thousands of dollars, the savings really add up.
Skipping paying taxes when you’re buying your diamond ring is simple because internet retailers don't have to collect sales tax from customers in states where they have no physical presence. Tax professional Saro Der Ohanessian from Vanguard Tax Relief says “buying an engagement ring online could potentially save customers an additional 6-9% just on sales tax.”
Who wouldn’t want to get such a great discount on such a pricey item? Take advantage of this tip and you’ll be able to save hundreds of dollars when you buy your diamond ring.
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