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How to Save Money When Buying Jewelry

how to buy jewelry at a discountThere is a lot of pressure on people to have the biggest, best, most expensive jewelry. If you can’t afford a rock like Kanye did for Kim K, then you’re no good right? Wrong. There are so many ways to get the jewelry you want without breaking the bank. Whether you are in the market for an engagement ring, a pair of earrings, or a nice big watch, you can find what you want with these tips.

Shop Small Business

First of all, see what an independent jeweler has to offer. Shopping at chain jewelry stores like Zales or Jared is essentially being robbed in the nicest of ways. These stores can mark the price up to 700%! Yeah. I thought the same thing when I read that. You are not getting what you pay for at all. The reason is that they have to pay for those national advertising campaigns, rent, sales commission, and all the other piles of paperwork that come with running a national chain.

By purchasing from an independent jeweler, you not only are going to get better quality, but also a fair price. You also need to shop around, see what your options are, and figure out the best deal. Some of these places may even match a lower price you’ve been given elsewhere. You can always price up what a diamond is worth using a diamond price quote online.

Buying Used

My second piece of advice may shock you, so sit down or hold onto something. Buy used! Yes. I’m serious! Your soon-to-be fiancé may not be super excited to hear that you are shopping for used engagement rings, but trust me when I say that when she sees what you’ve found on places like eBay and Craigslist, she will love it! (Or you don’t even have to tell her…totally up to you).

You can find beautiful, well taken-care-of, gently used jewelry that people sell to companies like CA Gems and DC Diamonds at a price that will blow your mind and then you get to be the beneficiary when it goes up online for sale. Check online or better yet, go out and find the jewelry in person. Search out antique stores, pawn shops, and even at yard/estate sales. You will be amazed at what you find and even more amazed with what you’ll pay!

If you are selling your jewelry and have received an appraisal, then do not be fooled. These insurance appraisals are created with the sole focus to increase the value of the item for the insurance companies to cash in on the jewelry if it gets lost. They appraise the item at a higher price than what they can repurchase it for in a jewelry store or secondhand market. This is similar to the lump sum transfer model in other industries. It’s the concept of paying a heavy price to replace something that is missing.

Take Your Time

Brad Pitt spent $250k for Angie’s engagement ring and that thing is a monster! Keep in mind that bigger isn’t always better! When you take my first set of advice I have given you and see an independent jeweler, you will learn that the quality is more important that the quantity. The jeweler will teach you about clarity, cut, and flaws. (I’m not a jeweler, so I’ll let them handle giving you the deets on that).

My last piece of advice is to give yourself plenty of time! Don’t expect to find something right away. Also, don’t jump on the first option you get. Shop around and give yourself choices. Best of luck to you!

Image: Wikipedia Commons


About Kim Parr

Kim Parr is a private practice optometrist, freelance writer, and personal financial blogger. You can follow her journey to 20/20 financial vision at Eyes on the Dollar.


  1. This is great advice! My fiance and I just found the perfect rings at a pawn shops. We wanted something unique, but inexpensive, and we found it. I don’t feel like we sacrificed any quality in our rings by buying them used. I also totally agree with you about taking your time. We weren’t able to find our rings right off, but when we did, we were so happy with them.

  2. Wow!!!!! These all are awesome tips for money saving while buying jewelry, One more thing I would like to suggest here is buying online as the online jewelry store has a great amount of discount code also they provide some best deals based on some function or holiday shopping. Also one great point is, one can easily find online jewelry shopping discount, from discount code offering websites like Voucher Code, Voucher Fox, Groupons Etc.

  3. My 3rd wedding anniversary is coming up soon and I’m thinking about adding a band to my wife’s wedding ring. I’m not to familiar with this kind of stuff and I want to get an idea of what to expect in terms of pricing. This helped me know how I can save money when I do this, and I hope that I can when it comes time for me to buy it.

  4. Great tips. thanks for sharing this great article

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