This article is going to give you an insider’s guide of when is the best time of year to get your engagement ring for the cheapest price.
A general rule of thumb is that you should spend double your monthly salary on an engagement ring, even though we at EDJ strongly discourage this system. See the link for reason.
Luckily, there are certain times of the year when you can find a dreamy ring at a price that matches your budget. We’re going to share some insider tips on when engagement rings are the cheapest. We’ll also tell you the drawbacks of buying rings at a lower price, so you can decide what will work best for you.
- When are Engagement Rings the Cheapest?
- December Holiday Season
- Black Friday and Cyber Monday
- Before Valentine’s Day
- Fall Season
- July and Summer Time
- Drawbacks of Buying a Ring During the Season Peak
- Saving Money for Your Engagement Ring
When are Engagement Rings the Cheapest?
Engagement rings are cheapest twice a year, during the off-peak summer season and also during the busy promotional months of November – December. The ultimate shopping hack is to first determine where you want to shop and then find the best deals based on that location.
See below for our breakdown of the advantages and disadvantages of each season.
December Holiday Season
What better time to buy an engagement ring than the holiday season? You’ve done your holiday shopping before. You know that discounts start during December. Now, buying an engagement ring is not really the same as buying your dad a new pair of pajamas, or buying your brother the latest Assassin’s Creed game for Xbox. Don’t expect a 50% discount on a proper diamond ring.
Do your research well in advance. Visit some of your favorite retailers’ websites to see if they will have a holiday sale. Stores tend to get super competitive with one another. They know that there will be an increase in demand, so everyone wants to get their slice of the pie at a decent price.
Although the stores are usually busy and won’t be so willing to haggle as easily, the discounts that will automatically promoted will usually be really close to whatever you could possibly haggle them down to.
Black Friday and Cyber Monday
This might be the best period for engagement ring shopping.
Just like all other stores, jewelry stores offer discounts on Black Friday. Plus, getting your ring before the holiday season means you can propose sometime during December. The best time to gather the family around and celebrate. And you will have just enough time to plan your proposal.
Before Valentine’s Day
Are you planning to propose on Valentine’s? You’re not the only one. And the vendors know that. February 14th is the single most romantic day of the year.
That’s why you might find promotional sales all through January. It would be best to start looking for your ring just after New Year’s, in the first week of January. Otherwise, you could get drowned by the crowds.
You might want to consider buying an engagement ring in September or October. Off-peak times of the year make vendors run promotions to keep the business going. Plus, you’ll have just enough time to plan the engagement around the holiday season.
You won’t feel the pressure of quickly making your purchase since most shoppers will hit the stores in December.
July and Summer Time
Like October, July is a month with no holidays in sight. It’s a low season for most vendors. There are higher chances that jewelry stores will be running promotions then. Plus, nice weather will be on your side.
You can plan your proposal on the beach or anywhere outside. It’s the perfect month to combine engagement with a summer vacation.
Drawbacks of Buying Engagement Rings During the Season Peak
You should know that buying an engagement ring during the holiday season comes with a few drawbacks:
1. You know how hectic holiday shopping can get. People storm from one store to another, ready to buy their products no matter what. Well, vendors tend to follow that pace and you won’t end up getting the attention that you deserve.
Online websites tend to be better at handling the peak seasons due to their advanced tracking software, but if you’re not in a rush waiting until a quiet time may be in your favor.
2. There’s a big chance the ring you want might be pre-ordered by another groom. This is very common for our one-of-kind rare vintage rings. To avoid this, we advise you to start planning your holiday engagement ring purchase well in advance. Two to three months ahead would be perfect. If the company allows you to reserve a ring (as we do), make sure to take advantage a reach out to them as quickly as possible.
3. You might need some extra advice from the retailer about the ring. The more customers in the store, the less attention they can pay to you. This can result in a less valuable purchase.
If the vendor isn’t available for advice, make sure to do your own research on the ring cuts, types, designs, and prices. Ideally, you would return when the vendor isn’t as busy or make an appointment.
4. You probably want a high-quality engagement ring for your better half. Know that diamond, sapphire, or emerald rings don’t often go on sale. If they do, don’t expect them to be half the price. To tell you the truth, real, top-quality gems will never be able to be too heavily discounted.
Saving Money for Your Engagement Ring
One of the main reasons you might be looking for a cheaper ring could be a lack of budget. There are a few simple tips you can follow to save money more effectively. Also, feel free to read our full guide on everything that you need to know about saving money on your engagement ring.
Set Up a Limit
Don’t pressure yourself with a $20,000 engagement ring that would only lead you into new debt. Be true to yourself, and don’t set your expectations too high. You can explore our website for rings between $1,000 and $8,000 that could be perfect. Vintage gems are equally special and more affordable than modern rings.
Try our Engagement Ring Calculator. You can find out what is a reasonable, realistic amount that you should spend on a ring. Plan all your purchases accordingly.
Learn About the Four C’s
An important thing that influences a diamond’s price is its four C’s: cut, color, clarity, and carat. Make sure you get familiar with these features before you decide to buy a ring.
Click the link to learn more about the Four C’s.
The holiday season is definitely a good time for proposing. But we believe buying an engagement ring during the low season might be more beneficial. You won’t be bothered by hectic shoppers.
Vendors will dedicate more time to help you choose the perfect ring for your other half. You’ll have just enough time to plan the perfect proposal. After all, choosing and buying an engagement ring should be a positive experience and not a stressful one.
If you’re ready to begin your journey to find an engagement ring, feel free to contact us with the form below.