This article has mentions of products from one or more companies, and I may receive compensation if you purchase those products following reading my recommendations.
There comes the point in every man’s life when he finds the woman he wants to marry, and for most of them, that means buying the perfect engagement ring. Getting engaged is perhaps one of the most memorable experiences of one’s life; a celebration of love and long-term commitment. That said, finding that perfect ring is not always easy.
There are many factors to take into consideration, the most important of which (in most cases) is the budget. To help you save thousands of dollars that you can hopefully put towards a more fun honeymoon, we have put together here a comprehensive guide on when to buy your engagement ring.
The exact answer to “when is the best time to buy an engagement ring” will depend on how much you can play around with your proposal date. If everything is decided and you are ready to pop the question, then it is best to not wait for an extended period so that you can get your hands on a sale. However, engagement season and other specific times of the years, for instance, right before Christmas, are times that you should consider.
So, what is this so-called “engagement season”? Engagement season is that time of the year when everyone and even their cats get engaged. Okay, perhaps not that many people but around 1/3 of couples get engaged during this engagement season.
When Is Engagement Season?
Engagement season starts from Thanksgiving to Valentine’s Day, which means November to February. This time is when many proposals take place, thus pushing the demand for engagement rings, and so jewelers take full advantage of the situation by increasing prices.
The reason for this time being the “engagement season” is pretty obvious – the holidays. This is when families and friends come together for holiday celebrations (Thanksgiving and Christmas), and when couples join each other for lovely Valentine’s date, making it a perfect opportunity to propose. Some of you may be thinking “Wait, don’t jewelers have those crazy holiday sales on engagement rings during Thanksgiving and Christmas time, making it much affordable to purchase a ring during that time of the year?”
The answer is, sadly, no. Even though jewelers do offer apparently tempting sales during engagement season solely because they have spiked up the prices even more and then have a “sale” to make customers think that they are getting a good deal when in reality they are not benefiting from any real gains.
When Is The Best Time To Buy An Engagement Ring?
If you are planning to propose during the engagement season, then you might want to start ring shopping a few months earlier before all the frenzy starts. The best time to buy an engagement ring is around 2 to 3 months before you plan to pop the big question. This will give you enough lead time in case things do not go smoothly, for instance, not being able to find the design your fiancé likes, delays on the jeweler’s behalf, unexpected strikes, etc.
The ideal time to buy an engagement ring is between June and August since this period is commonly known as the “wedding season.” Yes, summers are typically the time when couples are getting married instead of engaged, making the demand for engagement rings to fall. Since business becomes slow for most ring sellers, prices come down considerably. The lack of demand also encourages sellers to put up sales, making it even more flexible and affordable for customers looking to buy an engagement ring.
Besides paying attention to the time of the year, you should also take into consideration the following money-saving tips when buying an engagement ring.
- Buy online: The internet is a great place for many things, one of which includes engagement ring shopping. If the idea of spending countless hours in a physical jewelry store frightens you, opt for online shopping instead. Not only will you find a wide array of choices, but also great deals and discounts. This is because online jewelers are extremely price-competitive and thus their markups are quite low.
- Jewelers make margins on the setting, so purchasing the diamond on its own and then having it set in a ring locally is also a good idea if you are looking to save some bucks.
- Purchase your engagement ring from a jeweler out of state to save on taxes, which can be an 8% plus difference.
Even though there are both “good” and bad” times to buy an engagement ring, the best time is when you know you want to get to get married. Sure, getting a great purchase has its place, but keep in mind that you can always find something that will fit your budget and needs, so don’t fret too much.
I’m Louis Jacobs, the creator of Diamond Expert, a platform where I share my lifetime’s knowledge of diamonds. Born and raised in Antwerp, Belgium, the world’s diamond hub, my fascination with these precious gems began at a young age. I spent over three decades in the diamond industry, earning the reputation of a trusted advisor among friends and family for diamond purchases, particularly engagement rings. Now retired, I’m dedicated to providing online guidance to make your diamond buying experience informed and successful.
