How Much Should I Spend on an Engagement Ring?

November 06, 2020

We live in a world where the idea of “more” typically correlates to “better”. So, in correlation if you spend more, you will get a better product. This idea that has been installed in the minds of men and women for ages can be true at times, but also a complete and utter lie. Of course the more something costs the expectation of quality increase compared to a cheaper counterpart. However, some brand names tend to hold value over others. Certain brands have made a loyal customer base that gives them the ability to up charge due to their name. Don’t believe me, look up a plain white t-shirt from any of the popular designer brands and compare it to a brand found in a department store. Yes, the designer brand is a huge player in the fashion world and provides good quality clothing, but does that justify an almost 2500% increase in price. That is up to you to decide. This same theory goes for an engagement ring. 

It is impossible to tell someone how much they should spend on an engagement ring. It depends on an assortment of financial and personal factors that only you can answer for yourself. What we can do is help provide you with the necessary measures to help build the perfect ring that fits in your parameters. 

There are all sorts of ways that you can save money when purchasing an engagement ring. Many of the jewelry stores that you visit will try to pressure you into purchasing certain products and confuse you in the process. This type of selling is following the “one-off” model which means that they are looking to make a sale and do so with the most profitable margins available. They do not value you as a long-term customer and therefore take advantage of the situation. 

Common ways that they tend to make you overpay are:

• Preaching that platinum is stronger than white gold (which is misleading. If you would like to learn more please go visit our post, White Gold vs Platinum - The Truth.)
• The bigger the diamond is, the better (also false, check out our page on our website that breaks down the 4 C’s of a diamond)
• Ignoring certain aspects of the 4 C's. All four parts of the 4 C's (cut, clarity, color and carat) are necessary to understand when purchasing a diamond.

All of these misconceptions are common to hear and experience when looking into an engagement ring. However, we at Bellman’s Jewelers are unique. We are built around the idea that building long term relationships is better for everyone. We are not looking to sell you a ring and then never hear from you again. We want to provide you with the necessary resources to entitle you to make a purchase you not only love but can financially accept as well. Our goal is to find you a ring that is best for you even if it means we make significantly less profit margins than other stores. 

We want to establish a relationship that generates more life-long customers who are proud to shop from us and want to recommend us to friends and family. Our sales representatives do not receive commission and instead are compensated with a higher salary. Why do we do this? It is a simple. Those who sell for most jewelry companies are on commission. This results in the sales representatives relying on commission in order to generate the salary they require and thus they try to make you spend more. Our employees instead want to find you a ring that is best for you and are not motivated by sales, but instead making sure you leave happy. For these reasons we ensure that any customer who steps into our store will never feel pressured or persuaded!

Another rule that we follow when it comes to assisting you with trying to find the right engagement ring is to stay under the budget. If you come to us and tell us your budget is $6000, we will show you what you can get for $5000. Why do we do this? We do this because our goal is to sell you the perfect ring for less than your budget. If we find you something you are interested in for $5000 dollars, then it is a win for you! We help you save so you can spend that extra money from your engagement ring budget on other expenses (wedding, honeymoon, gifts, etc.). We also follow this idea because once you are aware of what you can get for $5000, then you have the ability to upgrade the diamond whether it is in size, clarity, cut, or color. Once again “more” is not always “better” and we understand that. Our model that we follow is designed to benefit the customer more than the company, unlike our competitors.

No matter what your budget is, we are sure that we can help assist you in finding the perfect ring for your significant other. We have options for all sorts of budgets. Whether it is natural diamonds, lab-grown diamonds, or an estate ring, everyone can find the perfect ring for the perfect price.

Come into Bellman’s Jewelers or visit us online to schedule an appointment. We look forward to helping you create a one of a kind ring for the special someone in your life!

-Colin McBride

-Alex Bellman

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