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7 ways to save money on engagement rings
Despite the hype, you don't have to sell all your possessions to afford an engagement ring. There are plenty of engagement rings under £1000, under £500 or even under £200. Here are our tips, tricks and loopholes to get a decent engagement ring at a discount price.
You might want to also see our guide to 10 of the best places to buy cheap engagement rings.
You might want to also see our guide to 10 of the best places to buy cheap engagement rings.
1. Buy your engagement ring online
There are plenty of advantages to buying from a local independent jeweller (professional advice, supporting local business etc) or a high street retailer (easy returns) but my experience is that the cheapest diamond engagement rings in the UK are sold online.
Online shops such as Amazon Jewellery, SuperJeweler, Purely Diamonds, Diamonds Factory and Diamond Heaven sell pretty decent engagement rings under £500 or higher quality engagement rings under £1000. Most have simple returns policies (just in case things don't work out...) although it is obviously a bit more hassle than returning to a high street store such as F Hinds, Goldsmiths, H Samuel or Beaverbrooks.
(Please note, some of the links on this site are affiliate links, but we include good deals regardless of whether they have the potential to earn money for the site or not).
Online shops such as Amazon Jewellery, SuperJeweler, Purely Diamonds, Diamonds Factory and Diamond Heaven sell pretty decent engagement rings under £500 or higher quality engagement rings under £1000. Most have simple returns policies (just in case things don't work out...) although it is obviously a bit more hassle than returning to a high street store such as F Hinds, Goldsmiths, H Samuel or Beaverbrooks.
(Please note, some of the links on this site are affiliate links, but we include good deals regardless of whether they have the potential to earn money for the site or not).
2. Choose 9 carat gold rather than 18 carat gold or platinum
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Generally, engagement rings are either platinum, 18 carat gold or 9 carat gold. You will find that 9 carat gold is the cheapest by some way and that platinum is the most expensive.
For example, a 9 carat 5mm white gold men's wedding band on Amazon costs about £150 (at the time of writing, December 2019), whilst a platinum men's ring of the same size costs about £600. The main reason to pay for one of the more expensive options is that 9 carat gold is more likely to lose its shine over time. If that bothers you, you can pay to have it replated - which costs about £20 - £30 from a jewellers. The difference in price would pay for quite a few replatings. |
3. Get a diamond ring without an expensive certificate
Part of the cost of a diamond engagement ring is a fancy certificate explaining the grading of the diamond. Unless you plan to frame this certificate and place it over your mantelpiece, you may choose to go for a cheaper option than one of the big certificate providers (EDR, IGI etc)
For example, Diamond Heaven gives the option of which certificate you want. When we looked at Diamond Heaven, a 0.3 ct diamond engagement ring varied in price depending on the certification. The same diamond cost £615 if the certification was from GIE, £640 with certification from IGI or £701 with certification from GIA.
For example, Diamond Heaven gives the option of which certificate you want. When we looked at Diamond Heaven, a 0.3 ct diamond engagement ring varied in price depending on the certification. The same diamond cost £615 if the certification was from GIE, £640 with certification from IGI or £701 with certification from GIA.
4. Buy your engagement ring second hand
It may feel a little mercenary buying a second hand engagement ring, seeing as it is quite likely that the seller is a heartbroken fella. However, there are some amazing deals to be had if you are willing to buy a second hand diamond engagement ring as they depreciate at a quicker rate than a new car leaving a forecourt.
For example, you could pick up a £1000 H Samuel ring on eBay for under £200, just because it has been worn for one week.
Search for diamond engagement rings under £100 on eBay, diamond engagement rings under £200 on eBay, diamond engagement rings under £500 on eBay or diamond engagement rings under £1000 on eBay
For example, you could pick up a £1000 H Samuel ring on eBay for under £200, just because it has been worn for one week.
Search for diamond engagement rings under £100 on eBay, diamond engagement rings under £200 on eBay, diamond engagement rings under £500 on eBay or diamond engagement rings under £1000 on eBay
5. Don't buy a diamond ring
Yes folks, that's right - an engagement ring does not have to be a diamond. The whole 'tradition' was created by the marketing people at DeBeers. Unfortunately for money savers, the tradition has caught on. See if you can get an idea of whether your potential spouse actually likes diamonds, or whether they might prefer a different gemstone. Or they may prefer to get something that looks sparkly but isn't a real diamond (try Diamond Style for engagement rings from about £30) and to spend the money on a honeymoon or wedding reception instead.
It's probably not wise to pretend you've bought a real diamond if you haven't...
It's probably not wise to pretend you've bought a real diamond if you haven't...
- Search for Red Ruby engagement rings on Amazon
- Search for Blue Sapphire engagement rings on Amazon
- Search for Green Emerald engagement rings on Amazon
6. Search for a discount code for your diamond engagement ring
Lots of the big diamond engagement retailers such as F Hinds, Goldsmiths, H Samuel or Beaverbrooks offer discount codes which can give a substantial saving if you are buying online.
Always have a quick search on Google if you see a discount code box on the checkout page.
Always have a quick search on Google if you see a discount code box on the checkout page.
7. Decide which of the 4Cs matter to you
You've probably read about the 4Cs which determine a diamond's grading (if not, see our guide to 10 things you need to know when shopping for a cheap engagement ring). In summary, diamonds are usually graded by carat (weight/size), cut (sparkliness), clarity (how clear it is) and colour (whether it is white or yellow).
If you are on a tight budget for your engagement ring (under £1000, under £500 or under £200), it is worth deciding which corners to cut. You might decide that you want a larger diamond which is less perfect or you may want a high quality diamond that is very small.
In my experience, a potential spouse is more interested in the size and sparkliness of the diamond than they are in getting a microscope out and looking for imperfections that aren't visible to the naked eye.
If you are on a tight budget for your engagement ring (under £1000, under £500 or under £200), it is worth deciding which corners to cut. You might decide that you want a larger diamond which is less perfect or you may want a high quality diamond that is very small.
In my experience, a potential spouse is more interested in the size and sparkliness of the diamond than they are in getting a microscope out and looking for imperfections that aren't visible to the naked eye.
8. Search for big Amazon discounts
Amazon has hundreds of engagement rings which are apparently massively reduced. Now, I'd be a bit cautious of some of the original retail prices on these rings, as you do rather feel that some marketplace sellers bump up the starting price to give the impression of a bargain. However, I did find some decent deals after only a couple of minutes searching - including a 0.50 carat solitaire diamond engagement ring reduced from £3000 to £600 (clarity I2, colour K-L).
Click here to search for Amazon rings reduced by 80-99%
Click here to search for Amazon rings reduced by 80-99%
