When is The Best Time to Buy Diamonds & Engagement Rings

Summary in a few lines:

Everyone appreciates a good discount, and like many other purchases, buying engagement rings, diamonds, or other jewelry can be more wallet-friendly during certain times of the year.

Planning to buy an engagement ring? It’s smart to look during wedding season which typically runs from late summer through early fall, around August to October.

During this time, demand for wedding rings surges, and you might find some appealing deals.

If a diamond is what you’re after, there are several discount seasons and quieter times throughout the year to consider.

Prices often dip a bit after Valentine’s Day and before the summer rush. Although the price drop isn’t monumental, every bit counts when getting a diamond.

For general jewelry purchases, there are recognizable discount seasons throughout the year such as Black Friday, Valentine’s Day, and Christmas where you can snag some great deals.

It’s advisable to begin your search at least two months in advance if you’re in the market for an engagement ring. Despite the potential in-store discounts, buying diamonds online from reputable stores like James Allen and Blue Nile is often more economical.

Remember, a bit of planning and strategic timing can lead to significant savings, ensuring you find the perfect piece to symbolize your love without straining your budget.

What is the Best Time of Year to Buy Engagement Ring & Jewelry?

Navigating the diverse and dynamic market for jewelry, especially when hunting for that perfect engagement ring, undoubtedly requires a keen eye for both quality and unbeatable deals.

Securing a nice piece without causing a dent in your finances often hinges on seizing the moment when diamond dealers and jewelers unveil their most tempting sales and discounts annually.

A lot of people would rather not purchase diamonds because they fear they might be a bit too expensive.

While the reality is that when you learn how to buy a diamond, and finding the best time of the year to get, along with best places to purchase it, will secure you a good deal that you can’t find on local jewelry store.

To start, we think it’s important to know that major diamonds & engagement rings discounts aren’t online, since big retailers like James Allen and Blue Nile have very low profit margins, compared to brick & mortar stores (which really run discounts since diamonds prices there cost an arm and a leg).

For instance, check this stunning Excellent 1.01 H VS2 diamond on James Allen, priced at $4640 at the time of writing this , such diamond would cost at least $5,500 to $6k in a local store, that’s why they can run promotions, while James Allen can’t.

That being said, it’s good to know that these large online retailers run massive discounts on settings & other pieces (but not loose diamonds), which sometimes can save you more than $1,000 depending on initial price.

Now, let’s explore five distinct times and shopping seasons throughout the year that stand out as particularly advantageous for getting an engagement ring or diamond.

1. The Renowned Black Friday Sales: Cliché yet Genuine Bargain!

It would be nearly criminal to discuss optimal times for diamond shopping without highlighting the famed Black Friday sales.

Occurring the Friday following the Thanksgiving holiday, Black Friday has become so synonymous with spectacular deals that many shoppers strategically postpone their major purchases throughout the year, just to snag their desired items at significantly reduced prices on this particular day.

Having evolved into something of a global “tradition,” Black Friday sales take place on various industries, and the jewelry one is certainly no exception.

Zooming in on our primary focus here—diamonds and engagement rings—whether you’re getting that precious gem for yourself, or as a symbol of affection for someone special without causing financial strife, we earnestly recommend biding your time until the Black Friday sales arrive.

Securing a noteworthy deal does necessitate a bit of savvy. While you may not encounter a substantial sale on the diamond per se (especially if it’s loose), striking a lucrative deal on settings is quite possible.

For instance, during Black Friday of 2023, James Allen offered a generous 25% discount on settings, jewelry, fancy color diamonds, and almost everything else—with the exception of loose diamonds.

At the same time, Blue Nile, an ultimate competitor to James Allen, launched a discount of up to 40% on similar diamond collections!

So, while there may not be an abundance of offers directly on the diamonds, the overall price of the ring can be significantly reduced to your advantage!

Not sure which to pick from these two giants? Read our James Allen vs. Blue Nile Detailed Review.

Pro Tip: When considering diamond purchases, it’s wise to monitor the original price of your chosen stone and setting weeks ahead of Black Friday. This ensures you can validate that retailers are indeed offering it at a genuinely discounted pric

2. Christmas Sales

Undoubtedly, Christmas time emerges as one of the famous periods for securing delightful deals across a a lot of sectors, including diamonds & jewelry.

During the festive season, almost every brand energetically rolls out sales. And shoppers can capitalize on the seasonal sales, potentially securing splendid stones, as jewelry stores emphatically join in the competitive festival.

Despite the fact that Christmas is considered one of the “discount seasons”, however, we thought it’s important to add that brands do know that shoppers tend to get in a bit of a hurry to get the perfect gift during Christmas and do not bother much about the prices, therefore:

Pro Tip: It is advised to look at options -if you want to give out a diamond as a Christmas gift- earlier on, maybe in November!

3. Cyber Monday

It’s becoming quite clear that November and December are shaping up to be the ultimate months to snag your desired jewelry or engagement ring.

With the bustling Black Friday sales happening after Thanksgiving and leading right into the tempting discounts of Cyber Monday, it’s virtually the prime window for making that special purchase since these sales can seamlessly connect.

 

In recent years, it’s become increasingly popular for many retailers—both in the diamond industry and beyond—to blend their Black Friday sales into Cyber Monday (which always falls on the first Monday following Thanksgiving, generally landing between November 25th and December 2nd), given the mere two-day gap between these events.

With Christmas just around the corner and the New Year swiftly following, November undeniably serves as an opportune moment to finalize diamond purchases. You might not find better deals at any other time during the year.

Also, it’s worth remembering that it’s NEVER TOO EARLY to start thinking about gifts. Whether it be tennis bracelets, diamond earrings, pendants, or anniversary rings, starting your gift shopping early is always a smart move.

So, if you’re considering gifting that special someone a meaningful item to showcase how precious they are to you—perhaps for Valentine’s Day—securing it during a hot sale, like on Cyber Monday or at the latest during year-end sales (think Christmas), is a wise decision!

Pro Tip: Often (though not always), the most enticing deals are presented (and quickly depleted) during Black Friday, leaving slightly fewer options for Cyber Monday. So, if you’re faced with a choice, why delay until Cyber Monday?

Strategize early, have your finances ready for Black Friday deals, and if for some reason you miss them, there’s still a chance to score during Cyber Monday!

4. Valentine’s Day

What do Valentine’s Day and diamonds share in common? A universal theme of love.

Given that Valentine’s Day isn’t tethered to religious observance, you’ll often find even more sales during this period compared to Christmas. Brands pull out all the stops to maximize sales before the next major holiday season sweeps in!

Valentine’s Day is highly commercialized and, much like the Christmas season, it brings a plethora of fantastic sales into your grasp!

However, it’s crucial to keep in mind that brands are all too familiar with the Valentine’s Day rush. That’s why we recommend making your purchases well in advance to sidestep any potential price hikes.

Pro Tip: Remember that when demand surges, prices tend to hold firm or even rise. Given that Valentine’s Day is a universal day for expressions of love (or, for some, an opportunity to brag about gifts, unfortunately), certain brands might inflate their prices during this season due to high and urgent demand.

Ensure you’re attuned to prices leading up to Valentine’s Day to discern whether you’re snagging a genuine deal or inadvertently falling into a cleverly disguised trap.

5. Mother’s Day

Mother’s Day annually unfurls as a grand celebration, with everyone endeavoring to surpass previous years’ efforts in commemorating this special day.

Despite being a non-traditional holiday, Mother’s Day has gathered tremendous global momentum.

Billions utilize this occasion to express their heartfelt love and deep appreciation for their mothers through sweet social media messages and, naturally, an abundance of gifts, diamonds included.

After all, aren’t diamonds a girl’s best friend?

Due to the competitive nature of this holiday, brands find themselves nudged to offer their gems in a bona fide sale, showcasing them at irresistibly attractive prices to lure customers away from robust competition and entice them into diamond purchases.

Even if Mother’s Day gifts aren’t on your agenda, it remains a prime opportunity to invest in future celebratory occasions (be it birthdays, anniversaries, or perhaps a summer engagement ring) and secure a dazzling stone at a favorable price point.

Pro Tip: Exercise discernment and guard against being swayed by illusory discounts during such holidays. Keep an eye on prices in the weeks leading up to the event, thereby enabling yourself to accurately gauge whether you’re landing a truly worthwhile deal!

6. Off-Peak Periods:

It might be wise for you to think about purchasing an engagement ring around September or October. To maintain business, suppliers promote specials throughout off-peak seasons of the year. Furthermore, you’ll have just enough time to schedule the engagement around the holidays. 

Since most consumers will visit the stores in December, you won’t feel pressured to make your purchase right away. 

7. End of Financial Quarters: 

This is the best Time to Buy an Engagement Ring, as it is useful for both the seller and the buyer when the seller wants to settle his annual financial matters and complete sales and thus may reduce the prices of commodities during this time, you should take advantage of these times to buy the engagement ring at the best price.

8. Seasonal Sales:

Purchasing a ring “in season” is perfectly acceptable and easy to find the ring you need, even if it means delaying seasonal sales and discounts. Purchasing an engagement ring outside of peak times does, however, have certain possible benefits:

On the setting, you’ll save a fair amount of money. Reputable suppliers seldom give discounts on diamonds, but they frequently give considerable savings on settings. If you’re on a tight budget and want the greatest deal, this might be beneficial.

If you’re considering a side-stone, pavé, halo, or three-stone ring, discounts on settings can be extremely beneficial for saving money.

Some diamonds may be discounted even when they are rare. Diamonds seldom come with significant price reductions. Nonetheless, during seasonal specials, certain retailers could give slight reductions on their loose diamonds.

As previously stated approach cautiously and make sure to compare the diamond to comparable gems from other merchants if you see a significant reduction in it.

On other jewelry kinds, you’ll probably receive more savings. 

You might be able to get some additional items, such as bracelets, earrings, or pendants, at a fantastic price if you purchase them during a sale.

9. Clearance Sales: 

Clearance deals may occur at any time of year, but many people only identify them with the end of a season or the Christmas shopping season.

It is the best time to buy an Engagement Ring because it meets the needs of those who are budget-conscious. Although clearance discounts are mostly seen in the retail industry, they may also be successful for activities, events, and service-related offerings.

Tips to Secure the Best Deals on Engagement Rings at the Right Times

1. Be Patient

While it’s tempting to buy a diamond in a spur-of-the-moment decision, especially for occasions like engagements, it’s beneficial to be patient. This is particularly true if you’re working with a limited budget.

Remember, diamonds aren’t typical products that depreciate in value over time. In fact, diamonds often appreciate, making the purchasing decision even more daunting for many shoppers.

2. Do Your Research

We suggest buying diamonds online. Based on our experience with numerous vendors, top picks include James Allen & Blue Nile. If you’re on the lookout for a superior cut diamond, consider exploring A CUT ABOVE by Whiteflash.

Believe it or not, specific diamond shapes can vary in price depending on the season. For instance, around Valentine’s Day, heart-shaped diamonds often see a surge in popularity and demand, which can influence their price.

However, if you lean towards in-person shopping, don’t settle for the first jewelry store you visit. It’s not about doubting the authenticity of the diamonds, but more about understanding market rates. Make a point to visit at least 2-3 stores to compare prices.

This approach ensures you get the best deal for your budget when you finally decide to purchase.

3. Not all “Sales” are Genuine

It’s an unfortunate reality. Many jewelry stores flaunt signs proclaiming “60% off” but stick to their regular prices.

Doing your own market research is crucial in identifying genuine discounts from mere marketing tactics.

4. Try to Buy a Diamond in Summer

It might sound odd, but the summer months can be ideal for diamond purchases. While many couples tie the knot between June and August, fewer are shopping for diamond rings or bracelets during this time, having likely secured their rings earlier in spring.

Getting engaged soon but doesn’t know her ring size? We got you covered.

The summer is usually a slow season for business for most jewelers, therefore, they’re making prices more flexible and affordable for inventory rendering purposes!

Pro Tip: Even if a seller (online or in-store) isn’t advertising discounts during the summer months, there’s often room for negotiation. Given that it’s typically a slower season for them, they might be more amenable to offering a better deal. After all, they’re looking for sales, and you’re looking for a good price – a perfect win-win scenario! 😉

Customization and Lead Times

It does take more time to create a personalized ring than to buy one “off the shelf”. It takes time to figure out what you want, figure out how to convert it into a design, choose the jewels, and then have the ring made. However, the amount of time needed varies depending on a few things, such as the kind of diamonds used and how intricate the ring in.

We recommend our pre-made engagement ring collection to customers who visit any store and urgently require rings but yet want some customization. Preset rings are ones that, after being resized, have already been set, or made, with a central stone and are prepared for shipping.  

After resizing, which takes about a week in most stores, we include the transit time, if necessary. For individuals who need a ring quickly, these would be the quickest alternative. 

Budget Planning

It’s crucial to keep in mind that everyone has a different financial status, so it’s not necessary to spend a certain amount of money on a ring before we get into the specifics and figures. In light of this, the Natural Diamond Council’s managing director and chief marketing officer, Kristina Buckley Kayel, reports that the average price of an engagement ring sold in 2021 and 2022 was between $6,500 and $7,000. 

This is an average estimate, though, as some soon-to-be spouses pay significantly less and some significantly more. Additionally, there will be vast variations in ring pricing for a variety of reasons.

When you focus on the details and consider the four Cs: cut, clarity, carat, and color, you may find naturally occurring diamond engagement rings that range widely in price, says Kayel. The amount you spend on an engagement ring may vary according to the particular preferences your spouse has, says Tom Bergan, vice president of Grown Brilliance.

The following elements should influence the ring’s price: Your partner’s preferences for size and style—they could choose a delicate style over a larger carat weight, or vice versa, he says.  The size and quality of the center stone, any other features like a halo or stones put in the band, and the metal type all affect how much a ring ends up costing.

Insurance and Warranties

A voluntary manufacturer’s guarantee is the jewelry warranty. It offers rights apart from those stipulated in consumer law, including but not restricted to rights concerning non-conforming goods. Benefits under the limited warranty supplement, not replacement, are the legal rights granted by consumers.

A jewelry guarantee is essentially the jeweler’s assurance that, in the event that something goes wrong with your jewelry and it’s not your fault, they will replace, repair, or refund your money. 

The typical warranty lasts one to five years, however each jeweler may have a different duration. Prior to purchasing any item, always make sure the guarantee’s term is known. 

Generally speaking, a jewelry guarantee covers: 

• Manufacturing flaws if a clasp breaks, a gemstone falls off, etc. 
• In certain cases, it may involve regular upkeep such as cleaning and inspections if you suspect a problem with your jewelry. 

Research and Shopping Tips

Sometimes it’s hard to research Jewelers or jewelry stores. There are a lot of factors to think about in addition to the best time to buy an Engagement Ring. How vast is the jewelry collection and price range, and are they reliable, honest, competent, and professional? Do they provide services like watch and jewelry repair, appraisals, bespoke bridal jewelry design, engraving, and watch repair?  Is there a jeweler in-store? Are they qualified and experienced enough to be your jeweler? 

Think about the suggestions

While there are numerous jewelers in the neighborhood, it takes time to choose the correct one. A referral from a trustworthy friend, relative, or someone who has had excellent luck with a jeweler may be very helpful.

Examine reviews

Any firm presents his/her best face when he/she uses attractive marketing. 

That might not always be the case, though. Online customer reviews are one way to learn more about a jeweler. Such reviews are only a click away when you have access to the internet. Verify that the evaluations are sincere and real—avoid using reviews that were bought from experts in the field.

Seek for Certifications and Appraisals | Years of expertise and GIA certifications

Being in the retail jewelry sector requires a number of attributes and certifications. Not everyone understands the value of being informed about developments in the jewelry industry and lacks sufficient understanding. Your jeweler should be up to date on the latest trends and should be self-educating and learning new things all the time.

Negotiation Strategies 

Everybody buys jewelry for various events and motivations. Search for who offer strategies for negotiating prices without compromising on quality. A lot of salespeople put pressure on clients in an effort to close a deal. A competent jeweler or salesperson will inquire extensively in order to locate the ideal product or service for you. Not a tight squeeze.

Post-purchase services

The jeweler’s post-sale services reveal a lot about them. A superior jeweler will guarantee their goods and services. Find a jeweler who will discuss and fix any issues you may have with a service or product you purchased. When buying jewelry, you should be able to get free jewelry cleanings and inspections.

Repairs and services

You’ll require jewelry repair services at some point. It’s possible that you’ll need a new watch band or battery, ring size, engraving, or to replace a lost diamond or gemstone. A jeweler who can make engagement rings, wedding bands, or restore a priceless family treasure could be what you’re looking for.

Examine the assortment

Selecting a reliable jeweler or jewelry store is crucial. Your own style choices are significant, though. The collection of jewelry at jewelry stores varies from one store to another. Make sure the jeweler has pieces in the styles that suit your taste in jewelry.

Examine the costs

Cost should always be taken into account while purchasing any kind of jewelry. Great deals are not always assured by low pricing. There can be a problem if the discounts or pricing strategy look too good to be true. 

Make sure you do your homework, particularly before making a big purchase like bespoke wedding bands, engagement rings, or jewelry that needs extensive repairs.  Please don’t hesitate to ask questions. Any inquiries about costs will be gladly addressed by a reliable jeweler.

Have faith in your instincts

The internet is a wealth of knowledge. You may conduct research and read reviews online. On the other hand, you will ultimately decide who will serve as your personal jeweler. Continue seeking until you locate someone with whom you are at ease.  Have faith in your instincts.  

Ethical Considerations

Diamonds are one of most dependable and trustworthy investment in the world. There is always a market for cut and polished jewels, and rough diamonds never go down in value. The fact that this kind of investment is tax-free is also significant.

Additionally, diamonds don’t require any particular storage conditions. As unbelievable as it may seem, you can pack them into a sock and they won’t go bad or lose value as a result.

Diamonds -under normal circumstances- last a lifetime.

It’s difficult to locate a present that would convey our attraction to the individuals who matter most in our life quite like a diamond. 

Giving a diamond to your mother, sister, wife, or any important lady can show them how much you care and how much respect you have for them. Diamonds are unique jewels.

Giving diamonds to males is quite appropriate as well! They can be set into signet rings, watches, tie clips, and cufflinks.

You have the opportunity to have a timeless experience with diamonds. According to research, the age of a rough diamond can vary from 100 million to 2.5 billion years. If not a miracle, this is nothing at all! 

Bottom Line

To wrap things up, diamonds undeniably stand as a significant investment. They aren’t everyday purchases you casually add to your cart; acquiring one often demands some planning.

Being well-informed places you in a favorable position to spot great deals, ensuring that your diamond purchase aligns perfectly with both your preferences and your budget.

Take the journey slowly—visit a variety of stores, pay attention to the deals on offer, and then carefully weigh your options to land the best deal that won’t strain your pocket.

If you’re considering buying during any of the seasons highlighted above, it’s a smart move to mark those dates on your calendar.

Furthermore, by following your preferred jewelry retailers on social media platforms, you’ll always be in the know regarding the latest offers—ensuring you never miss out on seasonal discounts.