The 5th C When Buying an Engagement Ring

February 11, 2014

With Valentine’s Day this Friday, jewelry stores will be “ringing” up the sales on diamond engagement rings and other bling rings. Most jewelers talk about the four “Cs” of diamond shopping. They are carat weight, clarity, color, and the cut:

Carat – Many think this refers to size but it is actually a measurement of weight, with 1 carat equal to 1/5 of a gram.

Clarity – This reflects the flaws or inclusions in the stone

FL (flawless)
IF (Internally flawless with minor surface imperfections)
VVS1-2 (very, very slightly included)
VS1-2 (very slightly included)
SI1-2 (slightly included)
I1-2-3 (Imperfect – eye visible inclusions)

Color or lack there of – The whiter the better. The more yellow, the lower the quality. Pink diamonds are extremely rare and expensive, just ask J-Lo.  And recently, chocolate diamonds have become popular.

D, E, F = Colorless
G, H, I, J = Near Colorless
K, L, M = Faint Yellow
N,O,P,Q,R = Very Light Yellow
S,T,U,V,W,X,Y,Z = Light Yellow

Cut – This defines the brilliance, or sparkle, of a diamond based on its symmetry, proportioning, and polish and is reported to be the most important of the four C’s.  This could be round, princess, or even heart-shaped!

But the most important “C” to be considered is the COST.  The general rule of thumb, which I am sure has been pushed by the jewelers themselves, is to spend 2 months of income on an engagement ring. For someone making $50,000 that would equate to over $8,000 on a ring. That certainly won’t buy a big rock like Johnny Depp just gave to Amber Heard but you also aren’t Captain Jack Sparrow finding buried treasure.  And if you are trying to pay off debt or save to buy a house, that 2 months of salary could have made a big difference in getting closer to your financial goals instead of focusing on your romantic goal.

A better way to judge how much you can afford is to determine if you have the cash available and if not, don’t let the commercialism of Valentine’s Day push you to overspend.  Try to avoid buying the ring on credit and consider these other options:

  • heirloom ring- Find out from your mother or grandmother if there is a family heirloom you could give or perhaps have reset in a more contemporary setting.
  • promise ring – An inexpensive promise ring can also be presented in place of an actual engagement ring. Remember, you and your girlfriend will also have to purchase wedding bands together prior to the wedding, so you could upgrade at a later time when you pick out the bridal rings.
  • gemstone ring – Consider a less expensive gem than a diamond, perhaps your or her birthstone or favorite color.  A ruby with diamond accents can show your love just as much as a diamond solitaire.