There’s something about buying a new piece of bling that just puts us in a wonderful mood.
But buying jewelry can get real expensive, real quick! Everyone values the opportunity to get in on an excellent discount and save some of our hard-earned cash.
If you’re looking to save some Benjamins but still catch attention with your new silver or gold, here are some cost-saving techniques:
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1. Stay away from the chain stores
Any jewelry store that’s located inside of a mall or a galleria is going to have a considerable markup.
The markup can be as much as 700% or 800%.
A better option is to go with a smaller, independent jeweler. The quality of the jewelry will be higher, and the prices will be lower than the chain stores. Do your homework by comparing prices and shopping around.
2. Consider going online.
Your chances of finding high-quality jewelry online, at discount prices are actually very high.
By eliminating overhead costs, salespeople, and premises, online jewelers can offer lower than average prices. Plus, if the seller doesn’t add a huge markup, that’s a huge bonus also!
You’ll still need to be cautious when buying online. The seller should be reputable and offer a generous return policy.
3. Buy silver instead
With gold prices reaching almost $1,500 an ounce, many jewelry-buyers are turning to silver instead.
If you already prefer silver, then luckily you’re already reaping the discounted rewards. But those who love gold might find it necessary to “settle” for silver if you’re looking to save.
If you really can’t say goodbye to your relationship with gold, consider buying silver jewelry with gold accents to keep the price down in cost.
4. Consider other alternatives to diamonds
If you don’t need to buy diamonds, you can save a lot on jewelry by purchasing pieces set with other stones. Here are a few diamond alternatives:
Man-made (also known as) white diamonds that have been grown in a laboratory, usually cost 15% to 20% less than natural diamonds.
The discount might be much higher, depending on the size of the stone and where you’re buying. And colored lab-made diamonds can be an enormous total of 80% or 90% cheaper than their mined equivalents.
A crystal that naturally occurs in meteorites is nearly as dense, hard, and scuff-resistant as a diamond.
Initially discovered in the 1800s, moissanite is now produced in the laboratory for a fraction of the cost of even lab-made diamonds.
5. Buy pre-owned (used) jewelry
It’s not always necessary to buy something new to experience high-quality satisfaction.
You can get fantastic deals at pawn shops, or by using Classifieds like Craigslist, Kijiji, and Facebook’s marketplace. Online auctions like eBay and garage sales can also be good places to buy used jewelry.
Of course, you still need to be cautious, since you might not be 100 percent sure that you’re getting something genuine in a private sale. If possible, ask for certifications, and ask if the seller is willing to offer a refund if once you’ve had it appraised, it is not up to your standards.
6. Bigger isn’t always better
Try not to get distracted by the big, beautiful shiny object in front of you because you can lose a ton of money this way.
If you’re buying diamonds, always remember that there’s more to a valuable gemstone than just its size. Sometimes, bigger gems can actually come with more visible flaws. You might be required to pay more because some jewelers get you to focus on the size, and pay for something big.
However, a large stone with tons of flaws may not, in actuality, carry more value than a smaller stone with fewer defects. But if you aren’t aware of that, you could end up paying way more because you’re dazzled by the size.
Just remember that there’s always a way to save a little or a lot of money when it comes to shopping for jewelry online and offline. Use these tips next time you’re looking around, and you’ll have some extra pocket change in no time!