[LChoy]

I realized I have 3 different posts already about diamonds from the various diamond threads that have existed on CP. So here is the combination of my opinion:

- There is no hard and fast rule about buying a ring. Spend as much as you are comfortable with. There is no reason to go into debt as you still have to plan a wedding

Diamond Characteristics:

- The most important decision you'll need to make off the bat. Carat or Cut (or for those where money is no matter, then do both). Carat size is by weight, not size. The better the cut, the more "sparkle" the diamond appears. A well cut diamond will look bigger and better than a large carat diamond with an inferior cut. For me, I got the best cut diamond I could and reduce the carat size to .8
- D E F are the colourless grades. Stick with F as you don't really need to get an E or D colourless diamond. With a yellow gold band, you can even go with a little yellower grade and it won't be obvious.


Budget:

If you are on a budget, you have 3 choices to consider:
- Carat
- Shine (How "sparkly" she wants her diamond to be)
- Design

If size is all that matters, try to land on a caret weight (it's really a weight not a size when you talk about carets) that's just under a popular weight. On diamonds, the markup jumps after .25, .5, .75, and super jumps at 1 and above carets. Therefore, a .48 caret can save you some money but is close enough to a diamond that's .5

Sparkle - This is arguable, but in my opinion, cut is more important than caret size. A better cut diamond will appear larger and shine more than a bigger caret diamond with an inferior cut. It's really a matter of illusion, but if she wants a sparkle, compromise on caret and focus on the cut. Also, some cuts will sparkle more than others (Brillant/round and Hearts on Fire cut being generally reflecting the most light)

Design - If your future wife prefers a design over the diamond, you can save a lot of money. My wife wanted a simple band, but there are many customized rings out there in the marketplace. I seen antique looking ones, intricate engravings, unique metals...etc. With this option, it's probably the most difficult as you really have to know her, and it's the ring that's the main feature, the diamond/gems would just be an accent to it. Also suggest if diamond doesn't really matter, gems like Sapphires and emeralds are increasingly popular (see Princess Kate's ring)

For me, I wanted an ideal cut (excellent grade) or higher, F colour (the first category of "Colourless"), VS2 (will need 10x and a trained eye to see any inclusions), and no less than 0.75 carat.
- Naturally, the more higher qualities you seek, the price goes up. Find what qualities you can sacrifice to make it more affordable
- Canadian diamonds will have a markup compared to diamonds coming from elsewhere. The advantage is that Canadian diamonds are laser inscribed so it gives people the confidence that it is not a blood diamond or something shady
- Mine came to be about $8k (damn Ontario taxes) but appraised for almost 17k

Where to Buy:

- A diamond purchaser/wholesaler can be cheaper than getting it from a commission store. Diamonds are traded at an international standard, so the base price shouldn't change very much. Several vendors confirmed that their profit margin on a diamond is between 10-15%.
- Don't be afraid to buy the diamond and ring separately.
- www.bluenile.ca (online, very popular and good value)
- www.brilliantearth.com (My financee is a enviro girl, so she liked them. a bit more than blue nile, but diamonds are Canadian and she likes how they give a portion of their proceeds to maintain environmental sustainability to the Canadian Northern communities the diamonds are mined from)
- www.abdiamond.ca/ (on 17th ave, diamond wholesaler. Very good customer service, diamond dealers)


Warranty:

In terms of coverage, if you buy it from a store, they generally sell warranty and insurance for the diamond/ring. Online stores don't usually have such things. However, it is recommended that you get the gem independently appraised.


Last piece of advice. A ring is a great way to start a new chapter of your life. You'll give her the best ring you can get her now, but you don't want to set the bar so high that the ring will be the most important/pretty thing she'll ever get. Perhaps in ten years when you are in a better place financially, you can upgrade it or make changes to it. Fortunately, there are a few retailers and diamond wholesalers, many of which her named in previous posts, that allow you to trade up your diamonds. Diamonds don't depreciate very much, so they'll take the value of your diamond, and you'll pay the difference for one that's higher in value. Good trade

Hope this helps


LChoy