So you’ve picked out the perfect ring for the woman you plan on marrying. You’ve stayed on budget by considering the differences in stones, bands and karat sizes and you’re happy with your choices. But now there’s a whole other world of jewelry costs, and you’re wondering if they’re inevitable or if you can get by on budget. Here’s a primer on what extras should be considered mandatory and which you can skip when it comes to picking out an engagement ring.
First, if you’re buying an antique ring or a ring at an estate sale, you’re probably getting a great deal—but it never hurts to check how good of a deal. When buying a piece of used jewelry, it’s smart to get it appraised before you buy. That ensures that you’re getting what you’re willing to pay for and not a clever knock-off or piece of costume jewelry that’s been masquerading as the real thing for years. Additionally, sometimes the person doing the selling (especially at estate sales) isn’t an expert in jewelry and may have merely estimated a price.
Jewelry insurance and extended warranties or service plans are a cost that you can consider cutting if your budget is swelling. Do cost calculations on premiums for both and figure out how long it would take you to buy a new ring with the cost of the program—that may help you decide that it isn’t worth it. Avoid in-store credit plans if possible and you’ll also avoid any finance charges they rack up.