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The smart consumer's diamond buying guide.... |
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Diamond Buying Made Easier > Cheap Diamond Engagement RingsCheap Diamond Engagement RingsIt's easy to find cheap diamond engagement rings! Every week, I get an email update from my favorite online retailer of computer and electronic goodies. The HTML message is loaded with pictures of all kinds of gadgets being offered at very good prices. Now these are items that are mass-produced in far away lands, using cutting edge technology, and made in ultra modern production facilities. About 2 weeks ago, I was surprised to see that now they are also offering discount diamond engagement rings.... I shouldn't have been so surprised because 3 days earlier my gas company included an advertising flier for discount diamond engagement rings and discount diamond jewelry in with their monthly statement.  The online retailer was offering a 1Ct. discount diamond
engagement ring for an amazing price. According to them, the diamond engagement ring should normally be sold for $4,999 but now you can get it from them for $1,599. WOW, that is truly amazing! What a discount! How can they do that? I understand that when many consumer items are first introduced, the price is high but it will drop over time.... in 1987, my first Mac cost 3 times more than the iMac that I just bought and my new iMac is thousands of times better than that original computer. Is that the same way jewelry works??? Well, yes and no.... In the past 30 years, I've seen many changes in how diamond jewelry is being sold to the public. The most notable was the explosion of home shopping channels when cable TV started to become more widespread in the late 70's to the early 80's.... but the biggest change has been via the Internet. For the past 30 years, as these new jewelry outlets became popular, it made prices come down because it "eliminated the middleman" from the chain of distribution. Because of these major realignments to the diamond jewelry business, there are no more middlemen left and the distribution channels have become much more efficient. There really haven't been many drastic improvements in jewelry manufacturing. Jewelry is basically manufactured the same today as it was 60 years ago. Computer chip manufacturing is being improved everyday.... the speed and performance keeps going up as the prices keeps going down.... jewelry manufacturing doesn't work that way. So how does this diamond engagement ring have an original value of $4,999? Simple, they made it up!!! If everyday, a jeweler makes a diamond engagement ring and sells it on a regular basis for $1,599, then the value of that ring is $1,599. If someone had actually bought this same diamond engagement ring for $4,999 then that person really got ripped off and they should never, ever trust their own judgment ever again! The price of the gold that is used in this cheap diamond engagement ring is set out on the open gold markets on a daily basis and there is law that regulates the gold content of the ring when it is stamped 14Kt. The cost of manufacturing is pretty much the same for this type of diamond engagement ring regardless of who manufactures it. The one item, the major factor in the pricing of this super discount diamond ring, the diamond, will be the one and only thing that could discount the price from $1,599 to $4,999.  The information that is in the ad shows it is a 1Ct diamond, I1 to I2
in diamond Clarity, and J to K in diamond Color.
Well, according to them, a 1Ct. cheap diamond engagement ring can vary within a weight range from 0.94 to 1.04Ct. Knowing that, which end of that range do you think they use most of the time? That's
right, the low end of the range will be used and I'm sure that the lower clarity, I2, and the lower color, K, will also most likely be used in this beautiful cheap diamond engagement ring. However
there is no mention of the 4th."C", and the most important "C", the diamond Cut.
Seeing some of the information of this cheap diamond engagement ring, I think that at $1,599, this diamond ring is overpriced. I've seen many cheap diamond engagement rings like this and I can say that this will not be a nice looking diamond engagement ring! Being a 1Ct. diamond is about the only impressive thing you can say about it. This type of deep discount will end up of attracting people who are susceptible to this type of deceptive promotion. These are people who mistakenly believe that there are tremendous mark-up on diamond jewelry and anytime you buy diamond jewelry you are getting ripped off! Actually tremendous mark-ups and rip offs are always evident whenever my wife buys perfume or dress shoes. Please don't ever waste any of your hard earned money on cheap diamond engagement rings like this.... remember, you generally do get what you pay for! - Important Take Away Points - |
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