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Friday, June 17, 2011

Budgeting for Diamonds

We all want to buy an item of jewellery at some point in life that has a diamond it it. It has become a fascination of the modern day woman. She dreams of having diamond studded jewellery, that everyone looks enviously upon. Apart from psychological fantasy factors behind the affinity for diamonds, there are the normal factors such as you might just want to buy a diamond because you can simply afford it.

Whenever the task for buying diamonds comes, the need for budgeting also springs to mind. Not everyone can afford to walk into a store and just buy anything they like without worrying about the cost. Besides, everyone knows the more expensive it is, the higher the quality of the diamond. But for those people who have a limited budget, how they decide what to buy is tough. Not if this article can guide you through with it.

First learn the 4 Cs, color, clarity, carat and cut. Do a little research on the Internet or go through local catalogues. You will get a pretty good idea from just going through catalogues and reading the details while evaluating the price in relation. The cost of diamonds depend on these 4 things. Get a good estimate of roughly how much you are going to be needing.

Get an understanding of what makes one stone more valuable compared to others. It is the minor differences that count. Then compare prices and qualities of the items of your choice at different stores online, in your town or in different catalogues that you can easily pick up from stores who usually give them away for free.

Never compromise on quality for the sake of money. Look for better deals and better options. You might find something better. Don’t finalize your decision until you have gone through all possible options available to you. Make sure the diamond you buy has resale value, you don’t want to buy something that has no resale value as that would be worthless.

The size of the diamond also matters a lot. There is no point in buying a diamond of more carats if it does not look good. Look for cuts and sizes that look good in a ring. Although women generally tend to emphasize more on size, but is the cut and quality that matters more. No matter how big your diamond is if it is of inferior quality, it makes no difference in terms of value.

The shape and cut of the stone also plays a major part in the cost of the diamond. The more complicated a cut the more it will cost. For example a heart cut is costlier than a princess cut, which in turn is costlier than a round cut.

Look for auction sales or antique stores, you can easily find vintage jewellery for reasonable prices there.

If you can’t afford to pay for the ring at once, you can always set up payments, but look for dealers that offer an option for installments with the least interest.

If you still can’t manage to buy diamonds, you can always hope to inherit  your mothers’ or grand mother’s diamond jewellery.

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