How many of you started looking for an engagement ring before you even had a serious boyfriend? If you are like me, the idea of a lifelong romance started at an early age and so did the planning. Funny thing is when I began dreaming up my perfect wedding I never once thought about cost and especially not the cost of my ring!  Fast forward a decade and yours truly is in a serious relationship and getting ready to take the engagement ring plunge. My real research began, and can I tell you, the world of engagement rings is daunting. 

Cut, color, brand, jeweler, style…suddenly my dream ring has turned into a nightmare fueled by Pinterest perfection and Instagram envy.

A Tiffany costs how much?

Before the internet and search sites like Pinterest, the whole engagement ring process started at a local jeweler or shopping mall with retailers like Kay, Jared, and for the bougie types, it was Cartier or Tiffany. I decided I would start the old-fashioned way. I went straight to the Caesars Forum shops to the Cartier counter because why not, you only get married once…if you do it right!

Ummmmm… $5000 for a gold band? What? Are you kidding? I changed tactic and went to a local jeweler. Again, sticker shock and you want to know why? Its not because diamonds and gold crafted in a fancy little ornament fashioned for your finger is truly worth thousands upon thousands of dllars.. NO, it’s the MARK UP! Anywhere from 1000%-3000%! My vision of a glamorous ring was getting very blurry. So I thought, okay, let’s try a second hand jeweler aka Pawn Shop and heck, I even threw in Walmart because lets be honest, once the ring is on your finger no one is looking at the purchase receipt.

Funny thing is, I found the same styles and types of rings, similar quality diamonds and all not that different of prices. One sales associate even told me the only place to buy a diamond is Costco because they have a flat markup of 30% on the highest quality diamonds which are bought in bulk. Exhausted and pretty disappointed I decided to put on my PJs, grab a glass of Pinot and my laptop to take my journey online. 

First, I will 100% admit that I love online shopping. Don’t get me wrong, I enjoy my fair share of Target, Hobby Lobby and Ross excursions but online is easier to explore, compare, and even design my own perfect ring. Which led to the discovery of an entirely new option, lab created diamonds.  Having no clue what lab created meant while absolutely loving the look and price drove me to do some digging and here is what I learned:

• Not to be confused with Cubic Zirconia, lab created diamonds have the same chemical properties as a diamond mined from the earth.
• Because they are created in a lab and not from the earth this makes them nearly perfect in cut and clarity.
• They are also 100% ethically sourced, meaning they protect against human rights abuses. This is an amazing option for anyone concerned about the cruelties associated with mining.
• Using a jewelry loupe, manmade diamonds are nearly impossible to differentiate from natural diamonds.
• Most importantly the diamonds are on average 25% less expensive than traditional ones!

Bottom line my friends, even if your budget is low you still have the opportunity to get that Pinterest ring at a wallet friendly price. That seems like a total win/win to me, but to be safe I decided to bring in the big guns… I called my mom. She agreed that it is a great option to get the most for your money, but only if you first consider:

• While it is 25% less expensive upon initial purchase your resale value could be greatly diminished. It will depreciate unlike a natural diamond. If you are looking at this as an investment, it’s not the best option.
• Are you a traditionalist? If so, you most likely want to stick with a natural diamond as it is hard to beat the tried and true.
• Do you like the idea of a family heirloom that is passed from generation to generation? Once again you will want to stick with the natural diamond as it will hold not only its value but strength. 

Here is my take, everything depends first on your budget and second on the shopping or engagement experience you are after. Before venturing on your ring journey ask yourself:

1. Do you need people to know you have a luxury branded ring?
2. Do you plan on keeping the ring forever or do you see yourself upgrading after 10 years? 20 years?
3. Do you want something vintage? Custom made?
4. Are you going to wear a band day to day and only wear the fancy ring on special occasions?
5. Do you want to be surprised and not involved at all?

After looking at everything and considering all options, I am a big fan of the lab created diamonds. They are gorgeous diamonds that for many couples affords them many more options in ring sizes and styles. Going with the lab created diamond affords you the option of getting your dream ring at an affordable cost and I say go for it! No one needs to know you took an alternate route, they just need to know that you have a beautiful ring you are excited to show off.