People often find themselves searching for “diamonds for less Toronto” or other such terms when they are looking for diamonds. This makes sense. After all, it’s only natural that you would want to save a little bit of money when buying a diamond. This is especially true if you’re shopping for an engagement ring. After all, weddings can get very expensive and any place where you can save some money can certainly help.
In general, diamonds are priced based on carat size as well as numerous quality factors. There are many different factors that affect diamond appearances and, therefore, diamond prices. Please read our section on the 4 Cs of diamond quality to find more information on these factors.
While carat size (the overall weight of a diamond) has a lot of impact on the price of the diamond, it is certainly not the only factor that you should consider. The price of a stone will be affected by the diamond’s cut and diameter as well as its weight.
A poorly cut diamond may have weight that is out of sight, such as lower down on the diamond below the setting. This will make it appear smaller than its actual carat weight. Conversely, a well-cut diamond will typically sparkle more than one that is poorly cut, which will make it appear larger. For these reasons, it is very difficult to determine a diamond’s carat weight by simply looking at it.
Tips for Buying a Diamond Ring on a Budget
You might assume that there’s simply no way to buy a diamond or an engagement ring on a budget. However, that is far from the truth. Buying an incredible diamond ring on a budget is definitely possible.
When you’re buying a diamond, you want one that looks great. As mentioned, there are many factors that affect the appearance of a diamond, including:
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Cut
- The cut of a diamond refers to the diamond’s overall faceting and proportions. The cut of a diamond is perhaps the most important characteristic when purchasing, as the cut greatly affects the appearance of a diamond.
- As mentioned, diamond that is physically smaller, but very well cut, will appear more visually impressive than one that is larger but poorly cut.
- Budget tip: A good option is to explore various different diamond shapes, such as princess or emerald, rather than just round brilliant. These cuts often offer greater value per carat weight.
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Polish
- A diamond’s polish refers to the smoothness of the cut. Most people are unable to tell the difference between good and excellent polish so, if you are on a budget, a good polish will usually suffice.
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Clarity
- Most customers are unable to tell the difference between diamonds with a very high clarity grading (such as VVS1) and a lower clarity grading such as SI1. In fact, in many cases, inclusions in a diamond are only visible under 10x magnification.
- When inclusions cannot be seen with an unaided eye, a diamond is considered “eye clean.”
- Diamonds that have received lower clarity grading will be less expensive and, therefore, may be preferable for those who are shopping on a budget.
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Color
- Colorless diamonds (grades D to F) cost far more than near colorless ones (grades H to J). The average person often cannot distinguish between colorless and near colorless diamonds, so you may wish to purchase a near colorless stone if you are on a budget.
When it comes to buying diamonds and diamond rings, it is important that you seek a good balance. There is no need for you to choose the absolutely highest quality ratings in all categories, unless you want to. You can get a high quality, beautiful diamond ring on a budget by being smart about your choices.
Speaking with your jeweler is an excellent way to buy diamonds for less. Toronto has many great jewelers, so you will want to shop with one that has your best interests in mind. Don't settle for just any jeweler. A jeweler should be focused on helping you get the best stone and ring in your price range, not upselling you and trying to maximize the sale for themselves.
