Diamonds 101 - Tips for Buying Bling-Bling on a Budget
Filed under: News
Diamond ring sales weather the economic climate. Photo: Corbis
Today the New York Times ran an article stating that there is a ripple effect among pinched consumers and the jewelry stores that supply them.
"The new frugality has forced diamond mines to curtail production, led to deep discounting at jewelry chains, spurred hundreds of store closings and resulted in job cuts at boutiques and department stores," writes Times reporter Stephanie Rosenbloom.
But don't breathe a sigh of relief just yet fellas, there's more to this story than you think! While the jewelery industry is suffering, Rosenbloom notes that, "the sales of diamond rings and wedding bands seem to be holding up."
Cue the wedding bells!
In order to investigate this notion further, we reached out to diamond trend expert Francesca Ferrante of the Diamond Information Center who gave StyleList a crash course on buying bling-bling on a budget.
StyleList: What are your top tips for purchasing diamonds/engagement rings on a budget?
Francesca Ferrante: Go to a reputable jeweler that you trust. Know what you want from the start so you can avoid being pushed into purchasing something you don't want. If you're budget is $5,000, buy a nice quality ring that holds up in a flexible market. You can always skip an expensive honeymoon, and invest in a good diamond. There are simple ways to be smart about cutting costs.
SL: What should consumers consider when buying from a big jewelry chain versus a jeweler?
FF: The biggest pro when you go to a jeweler is the customer service. Kay Jewelers and Zales are great stores but when you go to an independent jeweler in your neighborhood, whose worked with your family or friends, they'll put more time in. It's nice to have that touch of home.
SL: How can a consumer who has no or little knowledge of diamonds get prepared before making the big purchase?
FF: Familiarize yourself with diamonds. Go to diamondfacts.org to find out where they come from. Brush up on the 4 C's of diamonds (clarity, color, cut and carat weight). You can design your perfect ring at adiamondisforever.com, print it out, and take it straight to the jeweler. They will then be able to help you understand the details and steer you in the right direction. Don't be afraid to ask questions. We find that men tend to window-shop 3-4 weeks before buying, while women buy on impulse.
SL: What types of cuts create a large, expensive look without hurting your pockets?
FF: Emerald and cushion cuts give you a lot of surface area to play with as opposed to a solitaire. You get more diamond for your money. Many celebs add pavé diamonds -- not for financial reasons but for detail. They add sparkle to the ring without adding to your budget. This is an easy way for someone on a smaller budget to copy celebrity style without going up the price scale.
Celebrity Engagement Rings
Celebrity: Danielle Deleasa
Other Half: Kevin Jonas
State of Union: Engaged
Jeweler: Jacob & Co.
Cut: Solitaire Cushion
Total Carats: 3
Estimated Cost: $50,000
"For a young couple, it's a nice, moderate ring considering that he could have gone bigger."
Rachpoot/Stefa/INF
Celebrity: Gisele Bundchen
Other Half: Tom Brady
State of Union: Married
Cut: Round
Total Carats: 4
Estimated Cost: $100,000
"Gisele's ring is a large round brilliant solitaire which is the perfect diamond engagement ring for a gorgeous classic beauty."
Scott Wintrow, Getty Images
Celebrity: Jennifer Hudson
Other Half: David Otunga
State of Union: Engaged
Jeweler: Neil Lane
Cut: Round Brilliant Platinum
Total Carats: 6 (Center stone is 5 carats)
Estimated Cost: $80,000
"Jennifer designed this very unique ring set with her fiance and Neil Lane. The all micro-pave ring is set on a split-shank band which is a style that is coming back in popularity."
Leon Bennett, WireImage
Celebrity: Salma Hayek
Other Half: Francois Henri Pinault
State of Union: Married
Cut: Three Stone Cushion
Total Carats: 8
Estimated Cost: $200,000
"Salma's ring is a three stone diamond ring which is a very romantic design for a true Old Hollywood glamour girl."
Jason Kempin, WireImage | Fame Pictures
Celebrity: Mandy Moore
Other Half: Ryan Adams
State of Union: Married
Cut: Round Brilliant
Total Carats: 4
Estimated Cost: $65,000
"This is a combination of engagement and wedding rings which fits because she went straight to the alter."
Steve Granitz, WireImage
Celebrity: Ali Larter
Other Half: Hayes MacArthur
State of Union: Engaged
Cut: Emerald
Total Carats: 4
Estimated Cost: $60,000
"This diamond ring shows off Ali's feminine side with its delicate pave detail while still being large enough to give her enough sparkle on the red carpet."
Kevin Mazur, WireImage
Celebrity: Katherine Heigl
Other Half: Josh Kelley
State of Union: Married
Jeweler: Ryan Ryan
Cut: Pear
Total Carats: 4
Estimated Cost: $65,000
"Katherine's husband Josh designed this modern ring with Ryan Ryan--who the actress wears exclusively."
Gregg DeGuire, WireImage | Frank Micelotta, WireImage
Celebrity: Portia de Rossi
Other Half: Ellen DeGeneres
State of Union: Married
Jeweler: Neil Lane
Cut: Marquis (set sideways)
Total Carats: 4
Estimated Cost: $90,000
"Ellen worked with Neil Lane to create this ring which is an update on the Marquis. It's more Portia by throwing pink paves around the cornerstone."
Angela Weiss, Getty Images
Celebrity: Beyonce
Other Half: Jay-Z
State of Union: Married
Jeweler: Lorraine Schwartz
Cut: Emerald
Total Carats: 18
Estimated Cost: $5 million
"This is an investment piece. It's so rare, so large, and so clean. It's sort of like having money in the bank. It's better than having a 401K."
Steve Granitz, WireImage | Kevork Djansezian, Getty Images
Celebrity: Christina Aguilera
Other Half: Jordan Bratman
State of Union: Married
Jeweler: Stephen Webster
Cut: Vintage Round Brilliant
Total Carats: 5
Estimated Cost: $120,000
"She's a throwback to Hollywood glamour and she definitely shows that with this vintage ring."
Gregg DeGuire, WireImage
Michael Cohen 7-08-2009 @ 8:23PM
DIAMOND TRADING GETS FAIR
Australia’s most trusted diamonds now available at trade price
MEDIA RELEASE 9 JULY, 2009
The only fully guaranteed and completely certified diamonds in Australia will now be sold direct to the public at trade prices, thanks to a new service from the country’s most trusted and transparent name in diamonds, DCLA, the Diamond Certification laboratory of Australia. The new service from Australia’s only internationally recognised diamond certification laboratory will literally bring the consumer one step closer to the source of the world’s finest diamonds. The DCLA Diamond Exchange is best described as a diamond trading floor where top Australian merchants list their DCLA-approved diamonds, previously only available to the trade, but now available to the public.
DCLA Diamond Exchange allows Australians to purchase the perfect gem from the diamond experts at trade prices – and then have their dream ring designed and made by the jeweller of their choice.
“It’s time to shake up the Australian diamond industry once and for all,” commented Roy Cohen, Managing Director of DCLA Diamond Exchange. “Buy your diamond from the experts in diamonds, and have the ring made by a master jeweller. This is how savvy Australians will buy their precious jewellery from now on.”
To buy a diamond from the DCLA Diamond Exchange, visit www.dcladiamondexchange.com.au. Consumers buying from the Exchange will get the personal assistance of a diamond expert in a professional laboratory setting. The grading of every diamond is guaranteed by the DCLA.
DCLA expert diamond consultants are happy to consult with you over the phone if you are unable to view the diamonds personally at the DCLA Diamond Exchange’s headquarters in Sydney. They will answer all your questions, and help you evaluate the diamonds you are considering until the perfect gem is found. DCLA Diamond Exchange can also recommend a trusted jewellery who can turn your dream gem into a work of art.
Why is DCLA Diamond Exchange the smartest way to buy your diamond?
Every diamond has been graded and is guaranteed by DCLA
All diamonds are in stock – so every stone has been seen and evaluated for the buyer’s protection
Diamonds are listed from Australia’s most trusted merchants who stock only the highest quality gems, giving consumers a wide choice.
Customers are assured the best independent and expert advice available and your selection of diamonds can be viewed and compared under the optimum viewing conditions.
The DCLA Diamond Exchange can be found at www.dcladiamondexchange.com.au
– Ends –
ABOUT DCLA (DIAMOND CERTIFICATION LABORATORY OF AUSTRALIA):
The Diamond Certification Laboratory of Australia is an independent diamond grading laboratory, internationally affiliated and recognised. The DCLA is both an International Diamond Council (IDC) laboratory and the World Jewellery Confederation (CIBJO) laboratory for Australia. For further information visit www.dcla.com.au
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Michael Cohen 8-05-2009 @ 7:34PM
Before you buy a Diamond in Australia visit the DCLA.
The Diamond Certification Laboratory of Australia (DCLA) is one of the world’s foremost independent diamond grading and certification laboratories, providing independent and guaranteed diamond grading certificates, or diamond grading reports, for natural diamonds.
DCLA is Australia's premier diamond grading laboratory, and the only laboratory grading diamonds to the IDC rules. The IDC rules are the internationally recognised and accepted rules for diamond grading and diamond certification as set out by the WFDB, IDMA and Cibjo.
The DCLA Diamond Grading Laboratory Certificate sets the standard for technical ability in certification of diamonds. The DCLA remains the only internationally recognised diamond certification laboratory in Australia, grading diamonds in accordance with International Diamond Council (IDC) and World Jewellery Confederation (CIBJO) rules for grading polished diamonds.
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Garrett 8-19-2009 @ 1:56PM
One thing not mentioned in your Q & A is the need to buy a certified diamond, no matter what your budget is. I found the idea of buying a diamond really overwhelming, and I feel like that's pretty common... it's such a huge purchase. But after conducting tons of online research, I realized that getting a diamond grading report takes a lot of uncertainty out of the process. I plan to get a diamond graded by GIA because it actually invented the whole 4 C's concept. I never knew that they can't be determined by the naked eye - they have to be assessed in a laboratory. Plus, I like that GIA is non-profit and unaffiliated... it makes me feel confident that I will know exactly what I'm buying.
Hope this helps for anyone reading this! Congrats and good luck!
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