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How to set the amount of money to spend on a diamond piece of jewelry?

Updated: Feb 3, 2019

In the jewelry world, prices and costs can vary quite heavily, depending on the size, quality, and clarity of stones, and the materials used. So how do you know how much to spend on the piece of jewelry you want? This is, of course, a personal decision, but here are some wise tips that will help you assess how much you will spend.


Define a budget in advance

The first thing you need to do when you decide you want a new piece of jewelry, whether it is a ring, bracelet, earrings or necklace, is to define how much money you can spend. Everyone earns a different salary, comes from a different background, and thoughts vary on how to spend one's earnings. Therefore, it is essential that you think about a target price and a budget that you know you can meet without going over your financial ability.

The average price of a diamond engagement ring in Israel is around NIS 7,000, but the range varies widely. Once you set the budget, you are willing to pay for the jewelry you will be able to find items that suits your budget more efficiently.


Buy a diamond yourself

The price of diamond-studded jewelry that you'd find at a jewelry store is relatively constant and less subject to change or bargaining. The option to choose a diamond yourself, which we offer on our online diamond database , allows you to select the diamond that best suits your style, quality, and budget. Choosing a standalone diamond will always be cheaper than buying a diamond whose value is already part of a finished piece of jewelry, and, you do not always know what stone it is. The price of the diamond is determined by four parameters known as the 4Cs including Color, Clarity, Cut, and Carat Weight - the higher its' rating in each parameter - the higher its price.


Discuss the budget with your partner

When buying expensive jewelry, it is important to consult with your partner first, since this is an expense that will affect both of you. Coordinating expectations about the kind of jewelry and its estimated price can prevent unnecessary disappointments that can result from spending too low, or too high. Either way, it could be unpleasant and spoil the moment that is supposed to be perfect.


Expensive does not always mean beautiful

As with everything in life, you can't argue with one's own taste and smell. Therefore, a costly piece of jewelry is not necessarily the most beautiful one, according to the recipients' personal preference. In short, the price is not a guarantee for success. So, do not let high prices impress or mislead you.

Our advice: Consult a professional you trust, for costs that are appropriate for the design you want - considering a defined budget.


Choose where you buy wisely

The most important thing, which will most likely affect the price, is where you will purchase the jewelry. Buying from a big jewelry retail chain that spends a fortune on things like rent, employees, advertising and branding - will be included in the price of your jewelry.

On the other hand, choosing a custom design allows you to control the materials used, the specific diamond or gemstone you want, and even setting a budget in advance.

With us, you can also get a 3D model designed before you pay, so you know exactly what you're going to get in the end - just like at a store. Therefore, if you choose to design a piece of jewelry with a personal jewelry designer, you can save the costs that come with buying from a name brand and get the exact piece of jewelry you want without going over your budget.


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