Shopping for Diamond Engagement Rings Today
“The Great Recession” of 2007 not only shook global markets and instilled fear in the minds of consumers, but it fundamentally revolutionized the appetites and buying patterns in global jewelry and fashion markets, especially when it comes to buying diamond engagement rings. “The engagement rings market has evolved from the average cost of $5,000 per ring, as we once knew it, to an additional $25-50 trial silver ring to provide ample time for the big decision”, says Boris E., Encore DT’s President of Global Sourcing. “In fact”, he adds, “we are observing a segmentation in the market between the traditional and new age spenders, those who do spend the $5k and those who, after giving it some consideration, decide to move forward with what they consider a more affordable alternative, usually something from the family of silver jewelry. And for those who do spend $5,000 or more, we are finding that this group of people is starting to spend more of it on quality and craftsmanship rather than just a larger and prettier diamond”.
The above silver cathedral engagement ring features clear cubic zirconia – a 7mm round center stone and 28 supporting CZ stones in the periphery, as well as .925 Sterling Silver. “My fiance didn’t want to make such a large purchase without me, so he purchased your classic cathedral engagement ring with cubic zirconia for the proposal so that we can select the diamond ring together. The cathedral CZ ring cost him less than 20 bucks”, says Nicole E. from New York, NY.
A Unique Approach with A Diamond
Nicole went on to share her plan for the diamond engagement ring purchase and explained it as “a way to make a memorable purchase without having to make more financial sacrifices than necessary”. “My fiance wanted to get a 1 carat princess cut solitaire, but there was nothing unique about it and I don’t want to wear the same ring that all of my girlfriends are wearing, so I started looking through your Italian diamond engagement rings and found your white & black diamond flower engagement ring” (pictured above). For Nicole it was love at first sight. “I love the fact that it will come directly from Italy, which means manual labor, high quality diamonds and unprecedented craftsmanship. But most importantly, nobody in my social circle is wearing a ring even remotely close to this one”.
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