MoolahMonkey

 

For anyone that knows me, they know I like good deals on high quality items.

I’m going to save you a lot of time by teaching you what I learned in the last 3 months about buying a high quality diamond for a great price. It just requires you do some homework.

First off, you need to figure out her ring style, her ring size, and your budget. You’re on your own for that.

I originally started with a $5k budget, but after I thought about wedding expenses, I dropped it down to $3k. Then I thought about the cost of her wedding band as well, so I dropped it down to $2k solely for the engagement ring.

Next, you need to do some homework and learn about the 4 C’s, in which you’ll learn that Cut is the most important.

Then you need to learn about proportions and angles on a diamond that contribute to light leakage. This is important because you want a diamond that reflects the most light. This is something that the 4 C’s can’t tell you from simply looking at it at face value.

This is where Todd from Nice Ice comes in. Todd provides a free cheat sheet that you can use to filter for the 4 C’s, angles, proportions, and fluorescence when buying a diamond online.

Also, Todd will personally help you find a diamond that meets his strict standards for FREE. Todd and I worked together through email to find a diamond I would be proud of at a price I was happy to pay. He’s an amazing teacher who answered all my questions with clarity and patience. All he asks is you use his promo code when buying your diamond, and he receives a small commission for it. You pay the same price whether Todd helps you or not.

I ended up buying from Blue Nile because a few friends of mine bought from them with no complaints, and I really liked their interface. Todd personally selected 5 diamonds for me, and I went through each ones specs by reading their GIA report and using the cheat sheet, and Todd was there to answer any questions I had. He was ridiculously responsive. The fastest response I got was within 30 minutes; longest was 6 hours.

While I was waiting for a response back from Todd, I noticed the price of the diamond went up by $23. When Todd gave me the go, I called Blue Nile to see if they could lower the price by $23, and they ended up decreasing it by $69. To maximize my savings, I used my cash back card to get an additional 1.5% off.

Here are the details:

Setting $360.00
Diamond $1,403.00
Discount (from calling in) -$69.00
Cashback CC 1.5% -$25.41
Tax CA $0.00
Shipping $0.00
Total engagement ring cost $1,668.59
Budget $2,000.00
Total engagement ring cost -$1,668.59
Budget Surplus $331.41

If you choose to utilize the Nice Ice cheat sheet and skip the personal service, you can use Ebates to get 1% off. Then use a cash back card or do a wire transfer from your bank to maximize your savings.

My fiancé  was so happy and impressed by all the research and effort I put into finding her diamond engagement ring. It really reflects both of us because we strive to be minimalists, and look for quality and long term value in things.

IMG_1079.jpg

The video above was made right after I picked up the ring from FedEx. You can see the sparkle, fire, and brilliance from the diamond.

Other notes:

Do not go into debt for a diamond engagement ring. It’s a terrible move when you’re planning to start a marriage with someone. If I only had $200 to spend, I’d go on Facebook Marketplace and find a recent divorcee that wants to get rid of her ring asap. Then I’d go straight to church and ask the priest to bless it with extra holy water.

Lastly, I spent two months doing research by going to Shane Co., Jared, and Brilliant Earth in SF as well as doing online research on Blue Nile, James Allen, and MiaDonna. I ended up buying a total of 3 rings (Shane Co., Jared, Blue Nile). The service at Shane Co. is amazing, so if you don’t have a strict budget, and prefer buying a diamond in person, I’d go there. Just keep in mind that they mix certified diamonds with uncertified. Not much to say about Jared… I returned the first 2 rings because I wasn’t 100% happy with them or the price. That’s why I was really happy I found Todd. He answered all my questions in a no pressure environment.

 

2 Replies to “How to save on an engagement ring”

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