before you buy a diamond ring, calculate the price — here is how
Are you trying to avail the best offers in diamond rings for women? In India, on average, a diamond ring can cost you anywhere between 20K to 1Lac. The wide price gap is due to countless factors, which drive the price up or down. For the ultimate smart purchase, research is the key. To understand the various factors at play, and form an estimate about the price, do read further on.
This is perhaps the most important factor influencing the price. Carat is the unit of measurement for the physical weight of diamonds. The thumb rule is: the greater the carat weight, the higher will be the price. Anything above the 1-carat mark will start with an approximate 90K price tag; the price only goes up from that point. If you are working on a tight budget, then try to opt for a 0.75 or 0.25-carat diamond. These are much more affordable, yet beautiful. If you are looking for an exuberant ring, then go for a 1.25 carat stone. This will set you back by approximately, 2-3 Lacs.
Decide, as to whether you want a colourless or pigmented diamond, as that will have a certain impact on the price of the ring. Understanding what diamond colour means, not only helps in choosing the right stone but also helps you settle for a better price. The Gemological Institute of America (GIA) grades diamonds from D (colourless) to Z (light yellow or brown). A colourless diamond comes with a heavier price tag than a pigmented one. If you are looking to cut costs then, the near-colourless range(G-J) is for you. If the price is no issue, then opt for the colourless range(D-F).
The clarity of a diamond refers to extent of inclusions or blemishes in the stone. The fewer the inclusions, the higher will the clarity be. Greater clarity drives up the price of the ring. There are eight clarity grades. They range from Flawless (FL) to Included (I1). If you want something with a nice clarity grading, but do not want to break the bank, then go for a diamond rated VS1 (Very Very Slightly Included) or VS2 (Very Slightly Included). As you move up the grading scale, the prices will also move up. So, fix your budget accordingly.
A key factor behind the price of the diamond ring is the cut. While round-cut diamonds are the traditional ones, princess, cushion, marquise, emerald is categorised as “fancy cuts”. Rings with a round-cut diamond are usually on the steeper side of the price range than the other cuts.
The style of a ring greatly impacts the price of a ring. If you want an option that suits your pocket, then go for a ring with cluster settings. These have tiny diamonds nestled closely, to give the illusion of a big stone in the center. Cluster diamonds are budget-friendly and will get you a ring for less than a lac. Engagement ring, on the other hand, are pricey. A traditional solitaire will cost you anywhere between 1-1.75 lakhs.
The metals used for the ring plays an important role in determining the cost. Usually, diamonds are set against gold, platinum, or silver metal. Selecting platinum or pure gold will drastically drive up the price. If you want something a little pocket-friendly, opt for a diamond ring with yellow gold settings. Yellow gold is the most popular and relatively cheaper than white or rose gold. Also, the slimmer the band, the lower will be the price. So, choose your metal wisely.
The final price of your ring is judged based on making charges. The cost of a diamond ring consists of, cost of the stone, the cost of the metal, and labour or making charges. These charges vary from one jeweller to another; so, it’s difficult to put a price tag on it. Making charges are also directly proportionate to the diamond and metal prices. So as their rate increases, the making charges will increase accordingly.
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