Quick and Easy Buying Guide
Carat weight: 1 carat = 200 milligrams = 6.5 mm diameter. Doubling weight doesn't double diameter.
Diamond clarity: FL/IF/VVS/VS = super expensive, near perfect. SI = best value if you can check a photo for obvious inclusions (defects).
Color: D-G = colorless, expensive, only if you have money to burn. H-J = best value. Can go lower in gold metal settings than white metal.
Cut: Better cut ratings let more light into a diamond, making it sparkle more. Very important property, don't skimp here.
Set a budget and minimum cut (Premium). Go J color for gold and I/H for white metals. Go searching for SI1/SI2 clarity diamonds at James Allen. Pick a diamond with small/no inclusions. Choose a ring setting and buy it risk-free (60-day returns).
Specialised Engagement Ring Stores
The vast majority of normal jewellers only dedicate a small section of their store to selling diamond engagement rings. However, there are a few stores which are known as specialised engagement ring stores.
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There are many advantages of going to a dedicated engagement ring store. First and foremost, all other things being equal, they will have a vastly superior range of ring settings for you to choose from. Not only will they have a much wider range of the popular settings such as solitaire rings, but they may also have other more unusual designs such as tension rings and different types of metal rings.
All other things being equal, the staff are also going to know more about buying a diamond engagement ring then staff at a normal general-purpose jewellery store.
Because the store is targeted at engagement ring shoppers, they will likely have more options for custom fitting, custom design, matching wedding ring sets and many other relevant services.
Finding a specialised engagement ring store can be a challenge. They are nowhere near as numerous as normal jewellery stores, and you may have to travel quite a bit further to get to one. As a first reference, go on the Internet and search around your area.