Bang for Buck Engagement Rings

Just some notes on getting a bang for buck shiny rock for the missus; couldn't find any previous posts on engagement rings.

-Find lab diamond on Aurelinne (cheapest website with igi diamonds I could find).
-Copy the IGI number abd check if the same diamond is available on Rare Carat. If so, price match diamond on Rare Carat during one of their 40% sales via chat.
-Unfortunately price matched diamond will not get an additional 40% discount, but you can retain the 40% discount on ring settings by stating something along the lines of: "without the setting discount it'll break the budget :(". Keep on looping back to that point in a non-entitled manner and eventually they'll allow it.
-Ship to NZ via freight forwarder like MyUS.
-Pay customs tax.

Found that even after all that hassle of above:
-price of ring was still significantly cheaper than local's equivalent (margins on diamonds in particular are absolutely insane. Seriously, having a slick website is just marketing perceived value, not actual value add).
-extra flexibility on diamond choice is terrific (eg finer carat increments. You can also find proportions better than the highest cut rating; I just took a stricter criteria from some diamond nerd's post online).
-waayyyy more setting options.

Hoping this will help a cheapie in the future, also curious if there's an even cheaper way for the same level of quality (hope I haven't missed out on any significant savings lol).

Comments

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  • +1

    Another direction on cheap jewellery if you've less specific requirements; buy second-hand. You need to educate yourself a little about what to look for but you can save a tonne of money.

  • +1

    It's not often you get something that's both romantic and thrifty!

  • +1

    i agree the markup is insane on these in NZ, i got the now wife's set through a friend who worked fairly high up in one of the well known chains and the discount was substantial.
    kudos for the post!

    • Yea for me the price for a cream of the crop 1.1ct igi diamond from overseas was almost half the price differential from a 0.7ct to 1ct lesser rated igi lab diamond here.

      A full 1.1ct diamond was cheaper than a local 0.3ct jump by almost half price.

  • +1

    Cashconverters have good secondhand rings…you could also potentially consider buying something with good stones and then paying to remodel it is then new and personalized.

    • Another option to explore could be getting the stone separately from overseas to take advantage of the 1k tax threshold.

      Buy rings from cashconverters purely for the gold to get someone local to remelt for a hopefully cheaper setting.

  • This one time I got an heirloom for free and my ex fiance told me I was all manor of POS for not paying for the engagement ring itself

    So tldr is don't go far too cheap

    • This one time I got an heirloom for free and my ex fiance told me I was all manor of POS for not paying for the engagement ring itself

      So tldr is don't go far too cheap

      It's a certain type of woman thing. The actual value is irrelevant, all that really matters is that you spent more than you could afford to prove that's how much you love them.

      Getting it for nothing, even if were worth $100,000 implies ….

      Be warned that down the track, you will need to conspicuously consume on cars, boats, batches, and houses too.

      ;-)

    • If my girlfriend reacted like that she would be an ex gf real quick.

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