Is It Wrong To Buy A Used Engagement Ring?
Are there rules about buying engagement rings? You may have heard that a diamond is the only acceptable stone for an engagement ring, or that you’re supposed to spend two to three months’ salary on the ring. You may even have heard that buying a used engagement ring is bad luck. But who comes up with these rules? If you guessed the diamond companies, you’re correct. Instead of buying into rules created to make you buy an expensive diamond ring, consider the following information.
- Diamonds lose value very quickly. You probably know that a new car loses a great deal of its value the minute you drive it off the lot. The same concept holds true for diamond jewelry. Engagement rings lose about 80 percent of their value as soon as you walk out of the jewelry store, and it’s very hard to get a good price if you ever need to resell your ring. Not many jewelers will buy back diamond rings, and pawn shops probably won’t give you a good price.
- Value and price are not necessarily the same thing. While you might feel like cheap engagement rings makes people seem like they don’t value their relationships, spending less on the ring allows more money for other things. What if you could buy a beautiful engagement ring for 20 to 30 percent less than the rings you’re seeing in the stores? You can, if you buy a used engagement ring.
- An engagement ring is the beginning of something. Once you buy the ring, you’ll plan the wedding, then start your lives together. At every step along the way, you’ll have to make a budget and decide where to allocate your resources. Is a new diamond engagement ring the best place to invest your money? This is a question for you to answer, but consider that you’ll probably want a nice wedding, a fun honeymoon, and maybe to invest in a house, and these expenditures will require quite a bit of money.
- Diamonds don’t wear out. They’re essentially impossible to scratch or chip, and a diamond that’s an antique will be just as beautiful as one that was set yesterday.
- A second-hand diamond is less problematic. Mining diamonds is complicated and labor-intensive. What’s more, the process can be harmful to the environment. When you buy a second-hand diamond, you are reducing demand and making an eco-friendly choice.
- You can find some truly beautiful antique rings. When you’re shopping for an engagement or wedding ring, take the time to look at some antiques. You may find something unique that’s perfect for your fiancée. Antique jewelry never goes out of style, and you’ll find a large variety of styles.
- The “rules” about buying rings should be created by you and your intended. Talk to your partner about preferences, including style, size, and whether a used ring is acceptable. Making the decision together is the only way you’ll know if it’s the right choice for you as a couple.
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