Have you been looking at engagement rings or another special piece of jewelry and aren't sure how to get the best value for your money? If you need to make an expensive jewelry purchase on a budget it's helpful to plan ahead and think about what time of year you are going to buy that engagement ring. Jewelers might offer items at discounted prices to encourage sales during slower seasons, and the fluctuating prices of silver and gold can contribute to the cost of finished pieces. The price of diamonds and other precious stones can also change with demand.
Holiday Sales
If you weren't able to make your big jewelry purchase before the busy holiday season started, and you need to have it before the January lull, there are still a few things you can do to save money. While diamonds will be at their most expensive during the late fall and early winter and are rarely discounted, many jewelry sellers offer sales on the cost of the setting during Black Friday, Cyber Monday if you're buying online, and other traditional holiday sales periods. If you have to buy during the busiest shopping season waiting for a sale helps you save.
You'll have to contend with crowds when shopping the holiday sales so do some research ahead of time so you have an idea of what you want. Sellers might not have as much time to spend with each customer, and rushed orders might bring additional charges. You'll also have less time to make a decision without worrying that the piece you have your eye on will get snapped up, so know your budget, know what you want, and go get it as soon as those holiday sales hit. It doesn't have to be hectic shopping for jewelry during a busy sale.
Making an important jewelry decision is something that you should plan ahead for so that when you finally make your purchase you'll know you have the right piece at the right price.
After the Holidays
Image via Flickr by VideoMagus
Everyone gets caught up in the holiday spirit of giving and receiving gifts, but with so much buying happening it can be overwhelming, and investing in a special jewelry purchase can add a strain to your wallet. If you can hold off until the rush is over you might be able to find your perfect piece for a reduced after-season price. In times of demand, jewelry prices can go up, so if you start looking around a few months ahead of when you want to purchase you can notice trends and get an idea of items in your price range.
You are more likely to find reduced prices on jewelry during slower times of the year. After the winter holidays, shops might want to move items that didn't sell during the Christmas rush so January can be an ideal time to nab some discounts. You'll have more time to browse without the hustle and bustle of the December shopping crowds and can spend more time deciding on which piece your special someone will love the most. You might be able to ask and see if a seller is willing to go lower on the price of that perfect item.
March and Late May
Maybe you'd spent too much over the holidays and prudently didn't want to make any big purchases in January. Then February rolls around with Valentine's Day and the second busiest time for jewelers when demand, and prices, are high. This makes March the ideal time for buying that signature piece you've been craving or a diamond ringfor that special someone. After the dual romantic periods of Christmas and Valentine's Day are over it is the perfect time to make your valuable purchase and secure that perfect anniversary ring or diamond earrings for your beloved when prices are lower.
Another great time to see if the prices are down is in late May after everyone has bought and been given Mother's Day gifts. Sellers might be eager to move any stock that didn't sell before the summer dry season and offer special Memorial Day prices. If you've had your eye on a piece this might be the time to finally take the plunge and get the perfect gift to tell someone how you feel about them. Whether it's a birthday gift, engagement ring, or a long head start on Christmas shopping, late May is a great time to buy.
Summer Slump
With no romantic or gift-giving holidays to celebrate during the long summer days, July and August are often a slow time in the jewelry business and a perfect time to buy. Usually, by the time the summer wedding season rolls around rings have already been purchased a few months in advance, therefore jewelers don't have the large influx of summer business that other wedding vendors do. You might be able to make a lower offer as sellers try to clear some stock before new inventory arrives in preparation for the busy holiday season.
During the slow summer months when demand is low the price of gold, silver, and even diamonds can also decrease which will ultimately affect the price of the final product and you'll be able to find quality jewelry pieces at prices you might not see in winter. Early autumn is also a slow time to buy, so planning a little further ahead for a Christmas gift or a Christmas proposal can save you some money or get you a higher value item for your budget. Buying during the slow months is less stressful and lets you take time for decisions.
At Martin Busch Jewelers we know the value of great jewelry and how important it is to find the right piece. We offer a range of stunning jewelry, as well as fully customized pieces, and cleaning and repair services. If you're ready to make a purchase, or just want to know more please contact us and we'll be happy to answer any question.
FAQs
The lowest price of gold typically occurs around the second week of January. The price usually rises through the end of the year, with another dip between April and June. Gold and silver jewelry prices are lower after the holiday, as jewelers offer discounts on the pieces that didn't sell in November and December.
What time of year are diamonds cheapest? ›
The Best Time to Buy Diamond Jewelry
- Black Friday. No sales list would be complete without mentioning Black Friday. ...
- Cyber Monday. As you can tell, November is sounding more and more like a great time to buy diamonds. ...
- Christmas Holiday. The Holiday season certainly sees lots of sales. ...
- Mother's Day.
In India, gold holds immense emotional, spiritual, and financial value, with auspicious days like Dhanteras being popular for gold purchases. The year 2024 features significant days like Pushya Nakshatra, Makar Sankranti, Ugadi, Akshaya Tritiya, Navratri, Dussehra, Dhanteras, and Balipratipada for buying gold.
How do I get the best price on jewelry? ›
- Tip 1: Everything in a jewelry store is negotiable. ...
- Tip 2: Always research and don't buy on the spot.
- Tip 3: Know when to buy - March is the best month! ...
- Tip 4: For Diamonds, Look for Just Under The Quarter Mark.
- Tip 5: Sell or Trade old Jewelry to Bring Down Your Cost.
First things first, be aware that “too much too soon” is a very real thing in relationships. Giving a woman jewellery during your first year of dating is generally not a good idea. If you are nearing your one year anniversary and things are starting to get serious, you might start considering your options.
Do jewelry stores negotiate prices? ›
It is indeed wholly acceptable to negotiate the price of any piece of jewelry. Jewelers know this and will expect it. It's important to note that commercial jewelry chain stores (and the fancy brand-name jewelry stores) will almost always immediately shoot down your negotiating attempts.
What is the best day to buy jewelry? ›
At this point, we aren't surprised to find that Monday is a favorable day to buy rings too, with it being both the best day for price changes and the best day for lowered prices.
When should I buy a ring? ›
How far in advance should you buy an engagement ring? We recommend that you purchase the engagement ring at least three months before you are planning to propose, this then gives you enough time to change things and/or plan everything so it runs smoothly.
Do diamonds still hold value? ›
The Real Value of Your Diamond
Much like the purchase of a vehicle, a diamond's value can rapidly depreciate after the initial purchase. But if you buy a high-quality jewelry piece and take good care of it, you can expect to maintain a relatively consistent value that may even go up over time.
Is it better to buy jewelry at a jewelry store or department store? ›
If you decide to visit a local independent jeweler, you will realize that the quality of the piece you purchase and/or design will be unique. On the other hand, a person who is looking for an engagement ring can walk into any chain store and then leave with a ring that hundreds or thousands of people have bought.
You are more likely to find reduced prices on jewelry during slower times of the year. After the winter holidays, shops might want to move items that didn't sell during the Christmas rush so January can be an ideal time to nab some discounts.
Does jewelry ever go on sale? ›
“Many jewelry companies will have large sales around the holidays, but beware of brands that often offer promotions or large discounts. They're probably over-pricing their items just to slash them,” she cautions. So bear in mind that if you do come across a great holiday sale, chances are it's too good to be true.
What state is the cheapest to buy jewelry in? ›
Oregon, Alaska, Delaware, New Hampshire, and Montana are the only states without a sales tax on jewelry. If you're purchasing an expensive piece like an engagement ring or an 18k gold necklace, even a small tax can quickly add up.
How much should I sell my 14k gold chain for? ›
As a general guideline, expect to get 55 to 75 percent of the total gold value (assuming the piece is in good shape). So, if your necklace contains about $420 worth of gold, a fair offer would be $231 to $315. Another way to calculate it is to reduce the per-gram value by 25-45 percent.
Who pays best for jewelry? ›
The bottom line is that it doesn't matter what your jewelry is appraised for. The only thing that matters is what you can get for it. What it is worth is what someone is willing to pay for it. And most likely the person who is willing to pay the most is your local jeweler.
What is the cheapest month to buy an engagement ring? ›
The best deals on engagement rings can typically be found during major sales and events such as Black Friday, Cyber Monday, before Valentine's Day and after the holidays when jewelry stores offer discounts to attract shoppers.
What month is the best to buy a diamond ring? ›
Typically, the best time to buy an engagement ring is during the holiday season, between Thanksgiving and Valentine's Day. During this time, many jewelers offer discounts and promotions to attract customers.
Is jewelry cheaper before or after Christmas? ›
You are more likely to find reduced prices on jewelry during slower times of the year. After the winter holidays, shops might want to move items that didn't sell during the Christmas rush so January can be an ideal time to nab some discounts.
