One question that many people have when it comes to buying an engagement ring is how much it will cost. This is a reasonable concern as engagement rings can get very expensive. In addition, if you’re planning on buying an engagement ring, you’re also planning to get married soon - and weddings can certainly be expensive as well - so it’s natural to be focused on your budget and your spending at this point in your life.
But how much does an engagement ring cost in Toronto anyway?
The answer is that it varies. There are many, many different styles and types of engagement rings and these rings vary in cost a great deal. If you’re planning on buying an engagement ring in Toronto, there are three things that you should do: 1) Create a budget, 2) Learn about engagement rings, and 3) Shop around.
Creating an Engagement Ring Budget
An engagement ring budget is a personal thing that is different for each person. This is because your financial situation is unique and different from anyone else's. There are several “rules” that exist for making an engagement ring budget, such as that you should spend two months’ salary or three months’ salary, but you should consider these more as guidelines than rules.
For instance, if you have a lot of other expenses, or if you have a lot of debt, it may not make sense to spend the same on an engagement ring as someone with limited expenses or debt, even if the two of you have the same salary. Look at your financial situation closely when making a budget.
Learning About Engagement Rings
For most people, buying an engagement ring is their first experience with buying high-end jewelry. Therefore, it’s important to do some research and learn a bit about engagement rings before you start shopping.
Head to our diamond education center to get started. There you’ll learn valuable information about engagement rings, such as details on diamond shapes, grading, diamond structure, the 4 Cs of diamond quality, and much more.
This information won’t just help you buy a better engagement ring, but it will also help you compare rings to one another, and give you the information you need to get the best possible engagement ring for your budget.
Shopping for an Engagement Ring in Toronto
When you’re looking for an engagement ring in Toronto, it’s important to shop around. There are a lot of different options available and if you’re just going to head to the store in the closest shopping mall, you’re likely going to miss out on some incredible engagement rings.
Every jeweler and every jewelry store in Toronto is different. There are large international chains, smaller chains, independent jewelry stores, and even online jewelers to consider. Each of these jewelry stores has their own strengths and weaknesses, so it’s important to shop around.
Ask friends or family who have recently purchased engagement rings or other jewelry for their input. You might just find out about a Toronto jewelry store that you otherwise wouldn’t have considered.
It’s also a good idea to read reviews online. There are many different places to find jewelry store reviews, including Google itself. For instance, here is a link to reviews of Damasci on Google. When reading reviews, try to find ones that apply to you and the products or services that you are interested in.
Buying an Engagement Ring Online
One option for buying an engagement ring in Toronto is to look at online jewelers. These jewelry stores often have lower prices than stores that only have a bricks-and-mortar location, since they don’t need to have a large location to display all of their rings. This not only allows them to pass the savings on to their customers, but it often also means that they have a much wider selection.
When it comes to buying an engagement ring online, you’ll want to make sure that you are dealing with a reputable jeweler. While you may be able to get a deal on a ring if you’re shopping on an online auction or classified site, you’re much more likely to get ripped off or scammed.
Instead, look for established online jewelers, read reviews, and ask questions as necessary. With a little research and comparison shopping, you could find the perfect engagement ring in Toronto!