Things I learned buying a ring for my finance: Online is better, cheaper, safer, better

The old expression states: I love deals just as much as the next guy. In my case that is not true: I love deals more than the next guy.

I knew I needed to buy a ring but cared deeply about getting a deal. I didn’t want to get ripped off or pay even a dollar more than I had to. 

In mathematical terms I was looking to optimize my girlfriends happiness at the lowest possible price. If $5,289.89 could do the trick I need not pay one cent more.

I was inspired by the story of John D. Rockefeller, the American business magnate widely considered the wealthiest American of all time and the richest person in modern history. He spent $118 on a diamond engagement ring for his finance. 

Mind you this was in 1864 but the point still resonated with me: I could make my gf happy without hurting my long term financial position.

Ultimately I would rather have a larger and nicer home, or a newer car, then spend my hard earned money on a ring that is 1/1,000th larger. Nobody – not me, you, or my girlfriend – can see that size differently without a high powered microscope. So I focused on the basics.

I first did research about buying the cheapest and best engagement rings and found a few solutions that I knew would cause my girlfriend to say “No”.

Solutions That Would Not Work For MeReason
Antique My GF has a modern design sense; She uses an iPhone and Macbook and doesn’t want something from before the First World War hanging on her hand daily.
Used RingThis wouldn’t fly at all: it is bad luck and would make my GF think about how other couples saw their relationships end in divorce.
Family HeirloomI don’t have a grandma with fancy rings sitting around. If you do, good for you.
Lab-created / Not real diamondGF found this tacky, suggestion was dead on arrival.
Gem-free engagement ringI was hopeful of this outcome but she had her heart and mind set on a diamond ring and that ended the conversation.

I realized that there were no “easy outs.” I would need to pay up and pay for the ring that left my GF happy.

Online stores are nearly always more expensive because they have to pay rent for space, they have to pay sales professionals, and they have to ensure their inventory from local theft. All of these costs are passed on to me (and you) the buyer.

It’s the same reason that Amazon is excelling against local retailers. They can greatly save costs in the distribution of their products and goods and these cost savings are passed on to consumers. 

For these obvious economic reasons, I decided that buying online would get me access to the even more inventory and choices but at lower costs. For example, when entering a ring company’s store, they might only have 15-25 rings in your budget. Online, you can look at thousands and easily and quickly sort by all variables you might care about, including price, cut, color, and clarity.

Aftering looking for “outs” and going to multiple ring stores, I decided to buy online. I saved time, didn’t have to waste time driving to stores to see small samplings of inventory, and most importantly saved money. 

If you are new to the process of buying an engagement ring you should be very aware of these easy wins available at your fingertips.

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