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Jewellery insurance info, helpful guides, resources and industry-leading insights.

 

Jewellery Insurance

10 Facts You Need To Know About Engagement Ring Insurance

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Insurance Information

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Luxury Watches

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Jewellery Trends

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Engagement Rings

Engagement Ring Insurance: The Do’s and Dont’s

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Diamonds

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Retail vs Resale: The Value of a Diamond

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General

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Helpful Resources

Featured Resource

The Complete Guide to Jewellery Insurance

Access the Guide
Featured Resource

The Ultimate Guide to Luxury Watches

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Featured Resource

Ring Size Guide & Sizer

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It’s a common misconception that you can’t find a quality diamond ring unless you have a budget of tens of thousands of dollars. Finding a great diamond can be a matter of hard work, research and the advice of a trusted jeweller.

 

With the right strategy, you can even shop for diamonds with a budget of less than $5,000.

 

However, there are a few things buyers should remember when shopping for less expensive stones. Here are five mistakes to avoid if you’re buying on a budget.

 

 

1. Unknowingly Buying Treated Stones

 

Clarity enhancements are common among lower-quality diamonds. Diamond clarity refers to the presence of internal and external imperfections in the diamond, many of which can be masked by ‘treatments’ like:

 

Deep Boiling the diamond under pressure to replace black-filled inclusions that reach the stone’s surface.

 

Laser Drilling the diamond to burn away inclusions that don’t reach the stone’s surface. This leaves a ‘tunnel’ passageway which is noticeable under a microscope.

 

Fracture Filling inclusions with a silicon-based formula to ‘fill’ their imperfections.

 

 

2. Not Understanding Its Cost

 

Knowing why your ring costs what it does is one of the most important lessons in diamond shopping. You may see a 1 carat diamond with top ratings for cut, clarity and colour that costs $15,000. That same great quality diamond, with a carat weight of 0.80 points might only cost $8,000.

 

When you understand how every element of a diamond’s quality affects its price, you can make smarter buying choices to save money.

 

 

3. Making the Wrong Quality Sacrifices

 

Shopping for less expensive diamonds can mean making a few quality sacrifices. Whether it’s buying a 0.75 carat stone instead of a 1.0 carat diamond, or buying one with an SI1 (slightly included 1) clarity rating instead of an FL (flawless) grade, you need to weigh up what quality sacrifices will have the least impact on the overall appearance of your ring.

 

 

4. Assuming a Jeweller is Too Expensive

 

Another common mistake buyers make is assuming that a physical jeweller will be out of their price range. This most certainly isn’t the case.

 

In fact, the advice of a trusted local jeweller can be the best way to find the perfect ring for your budget. You can find a Q Certified Jeweller in your area here. They’ll be able to work within your price range and offer expert advice to ensure you find just what you’re looking for.

 

 

5. Not Getting Jewellery Insurance

 

You may not have paid tens of thousands of dollars for your engagement ring, but it’s priceless in sentimental value and deserves to be protected. Unfortunately, a lot of people wrongly assume that their jewellery is covered under their home and contents insurance policies, but don’t realise that this cover has severe limitations (like not even covering the piece when it’s outside the home!) 

 

This video outlines a few of the ways specialised jewellery insurance like Q Report is different to general home and contents insurance policies.

 

 

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Engagement Ring Budget Calculator

What you need to save to meet your timeframe and budget is:

This has not taken cut, colour, clarity or carat, your financial situation or your partners taste into account. There are many factors that can reduce or increase the value of an engagement ring.


Not sure where to start?

Speak with one of our Q Certified Jewellers to find out what you can afford, what your partner is looking for and what will financially work best for you.

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