Wedding Tips & Advice

Is This the Best Time to Buy an Engagement Ring?

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Is This the Best Time to Buy an Engagement Ring?

With everything happening this year, it’s hard for us to say that marriage proposals are at an all-time high. That being said, we would argue that it’s actually a pretty fantastic time to get engaged and start hitching a ride on your happily ever after. Why? Well, to begin, diamond engagement rings are a lot less expensive at present. Since the ring is a big part of the picture, spending less is absolutely more desirable and it makes the decision to do it even simpler. We spoke with our friends at PriceScope.com, the world’s leading diamond and jewelry community and resource center, to get the scoop on reasons why ring shopping now is 👍. All we have to say is, if you have the funds to do it while we’re at this challenging COVID-19 crossroads, then you should definitely take advantage. You don’t have to feel rushed to file down the aisle, though, you can get your ring and then relax…

Before breaking out the pros and cons to a during-the-pandemic proposal:

You’ll probably want a bit more about PriceScope and its purpose.

PriceScope is the leading independent and unbiased resource for diamond information. When you come to the site, you can expect clear and concise tutorials from industry experts and have your questions answered by knowledgeable forum members (diamond enthusiasts forever and always). And there is a rigid “no sales” policy effective, on site, to ensure that consumers coming on to learn more about diamonds and glean the best information to inform their purchases (and get the best value) don’t have to take their eyes off the prize 💎 or get sidelined by spam.

Shoppers have the freedom to discuss a range of topics from buying diamonds online to shopping in-store at places like Tiffany, Cartier, and myriad other local jewelers. It’s a comfortable, supportive atmosphere and the ultimate resource for your rock. With its advanced search function, PriceScope lets you compare prices of over 350,000 - 500,000+ diamonds from competing vendors. You can also chat live with members 24 hours a day, seven days a week, so whether you have other facets to fact check or just want a refresher on stone specifics and/or the 4C’s, you’re covered! 

Is This the Best Time to Buy an Engagement Ring?

For real, though, here are the promised pros and cons.

In case you just needed to see that the good definitely outweighs the bad…

Cons first, because we like good news last.

  • Many jewelry retail stores are closed, so the iconic teeming-to-try-it-on experience will probably have to wait.
  • Restaurants and other popular proposal spots are likely still closed and will be for the foreseeable future.
  • With all of the social distancing decrees and size-of-gathering guidelines changing every day, it’s likely that having an immediate engagement party won’t be possible.

Pros, all of which sound really promising.

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  • Diamonds and engagement rings have been dropping in price since the pandemic became a problem (take a look at the below graph).
  • Many trustworthy online retailers are still trading (James Allen, Blue Nile, Whiteflash, etc.).
  • In the midst of these challenging times, a proposal and a pledge to forever together can be the ultimate silver lining, the rainbow at the end of this storm.
  • The happy news can still be shared with everyone in your inner circle and beyond (social media and virtual communication are keeping us all connected).
  • Since life is a bit slower in quarantine, it can be a great time to plan a wedding in peace without crazy distractions.

Is This the Best Time to Buy an Engagement Ring?

What you’re seeing here is that one to two carat diamond prices (the red line), for example, are the lowest price they’ve been since 2011. Additionally, 0.5 to one carat diamonds are at the lowest price they’ve been since PriceScope started the price chart in 2010.

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Pandemic be damned, everyone needs a diamond and an “I’m engaged and I don’t care who knows it” moment. Even if the proposal happens at home. #timetobeaMonica

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As well as being the largest diamond and jewelry forum, with a cache of experts offering phenomenal and free advice, the site also has a wealth of guides and resources for reference. Learn more now!

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