One of the biggest expenses that you will likely face when getting married will be the cost of your wedding ring, mostly because buying anything with diamonds is going to be extremely pricey. However, there are a few ways to save money when buying a wedding ring, such as the three listed below.
Avoid Sales Tax
When you are buying a wedding ring that can easily cost hundreds or thousands of dollars, sales tax can often add a pretty hefty amount to the total purchase price of the ring. In order to avoid that extra cost, consider buying from an online jewelry store that does not have a presence in your state as their lack of a physical location in your state means that they will often not have to charge sales tax. In addition, consider purchasing from a private party in order to avoid sales tax.
Consider Used Rings
The sad truth about many proposals is that they can often fail or the relationship may not make it from an accepted proposal to the day of the wedding. This does provide you with an opportunity to get a discounted ring as many jewelers will not accept returns on rings or may only offer a fraction of the original purchase price to take it back. In that situation, it is not uncommon to see wedding rings on classified ad sites or in your local newspaper for a reasonable price.
When buying a used ring, you can purchase the ring and simply have a jeweler resize it for your loved one. In addition, you can also purchase a used ring that has a better diamond than you may be able to afford and have that diamond placed onto a new setting to make a completely new or unique ring for your loved one, at which point you can simply sell off the original setting to offset the cost of the ring.
Purchase Multiple Smaller Diamonds
Finally, instead of purchasing a ring with a single large one carat diamond, you should consider purchasing a ring that has multiple smaller diamonds. The main reason for this is that a single one carat diamond can often be exceedingly expensive, whereas multiple smaller half-carat or quarter-carat diamonds will be substantially less expensive. Using this method, you could still purchase your loved one a one carat diamond ring but the carat will be divided across multiple diamonds that were each quite a bit less expensive than a single one carat diamond, which lowers the overall cost of the ring.
Contact a jeweler in your area today in order to discuss how you can potentially save money on a wedding ring. Avoiding sales tax, purchasing used rings, and considering rings with multiple smaller diamonds are all great ways to lower the cost of a wedding ring.
Visit an affordable provider, such as Emerson & Farrar, for more ideas.