Engagement Ring / Wedding Band - Diamond Alternative Heirloom

8ro on 28/07/2019 - 21:50
Last edited 29/07/2019 - 23:59

Hi,
I am looking for an engagement ring that will double up as a wedding band.
There have been numerous posts discussing similar concerns at various price points, however, this post differs as per the outcomes hoped to be achieved which are mentioned below.

I am looking to get a platinum-based ring for $10000 (GST inclusive).
I am trying to have a discussion around if someone HAD to spend 10000 for a ring that would have dual-purpose, what stone or style would they consider. Rarity takes precedence over prettiness, so please No Moissanite, CZ or other similar alternatives.

I am not viewing this as an investment decision from which I will earn great returns, but rather hoping to get something that will retain its value over time. (Please do not suggest buying something cheaper and putting rest of the money in term deposits/bonds)

Therefore, feel free to recommend other precious stones or maybe even argyle pink diamond for the ring. Please note that it must, however, be suitable for daily wear and therefore ideally should not be less than 8 on the Mohs scale.
I am based in Sydney, so something that can be easily procured locally would be a bonus.

I am not seeking a discussion around whether:
a. I should be spending this much/little on something like a ring
b. Diamonds are a scam, with no intrinsic value (with links to CH’s video)

EDIT: I have changed the title to reflect that I am not looking for a colourless diamond.

General Discussion Wedding Ring

Comments

  • fantombloo on 28/07/2019 - 21:53
    +6

    but rather hoping to get something that will retain its value over time

    Standard new retail is not an option then. Perhaps second hand.

    • Scrooge McDuck on 29/07/2019 - 06:06
      +13

      Second hand, fourth finger definitely!

      • try2bhelpful on 29/07/2019 - 09:05
        +1

        Give the guy a hand, ladies and gentlemen.

  • elgrande on 28/07/2019 - 22:40
    +3

    Diamonds are a scam with no intrinsic value, then again, they do say that you should spend 3 months of your salary on an enagement ring.

    Lets discuss.

    • theHMASfriendship on 28/07/2019 - 22:55
      -1

      Are there any links to any videos you could share to illustrate your point?

    • Scrooge McDuck on 29/07/2019 - 06:12
      +4

      they do say that you should spend 3 months of your salary on an enagement ring.

      It's a toss up between a cheezel and a burger ring then. Maybe a ring pop if it's a bumper season.

      • RubenM on 19/08/2019 - 08:01

        The diamond industry came up with that figure.
        I spent about 20% of that and even that was way too much. Especially given that she only wears it 10 times a year max, because she's worried to lose or damage it.

    • Cheapo Moose on 29/07/2019 - 08:33
      +2

      3 months?

      It used to be 1 month.

      Women getting greedy…

      • zoob on 29/07/2019 - 08:48
        +15

        Women? Or companies trying to sell jewellery?

      • try2bhelpful on 29/07/2019 - 11:17
        +6

        This woman, and her man, never got married. The money for the wedding went into a house deposit.

        • RefusdClassification on 31/07/2019 - 02:01
          +1

          Wise decision. I have known pragmatic youung people from university who actually got married 20 years ago on a budget, but so many people now have such high expectations and will squander huge amounts of money on a wedding. People are better off purchasing a synthetic diamond and putting the money saved into furniture and a haus. It's just heated, pressurized coal; nothing romantic about it at all.

    • coffeeinmyveins on 08/08/2019 - 22:42

      Lets discuss.

      Start your own thread instead of hijacking this guys one for your own soapbox.

      (profanity) me, there's always one.

      • elgrande on 15/08/2019 - 20:37

        Whooosh.

        I am not seeking a discussion around whether:
        a. I should be spending this much/little on something like a ring
        b. Diamonds are a scam, with no intrinsic value

  • Banana on 28/07/2019 - 22:41
    +1

    Among gems, diamond is the most common.

    "Rarity takes precedence over prettiness"

    You should go buy a Painite ring.

    • AdosHouse on 29/07/2019 - 02:09

      Or a Californium ring.

    • 8ro on 29/07/2019 - 02:40

      Haha. If only it was so easily available and even if it was, I would not get anything within this budget. Perhaps, I should clarify what I meant by rarity, for example, Tanzanite is rarer than diamond and can be bought at many places, the reason why it is not a viable option is because of its softness.
      Argyle pink diamond was suggested because of its relative rarity and it is still somewhat available in the market.

  • Kangal on 28/07/2019 - 23:27
    +7

    Frankly, you would do much better by finding the ring design she likes here… then goto Dubai or Mumbai, and have it made, sized for her finger, and get an expensive rock put on it. What you're likely to spend $10,000 here (say its $1k for the gold, $2k for the design, and $7k for the diamond), you would most likely get a better designed and higher value jewellery at a significantly lower $2k price (eg/ $300 for the gold, $100 for the design, $1k for the diamond).

    You could even do this as a stop-over, and use the trip and the difference to fund a trip to Europe.
    But as I'm saying this, I get the feeling that money is not an object for you… so you should probably hand over your OzBargain License.

    • 8ro on 29/07/2019 - 01:31
      +1

      While I do agree with your premise that there is a premium to buying locally compared to buying overseas. I have not found the difference to be of such magnitude, i.e. 7 times for a similar diamond.
      Lastly, the objective is not to save money for other pursuits but rather to get the most value out of the budget while still sticking to the criteria mentioned above.

  • brokenglish on 29/07/2019 - 03:24
    +6

    The post title is OK, but this

    I am looking to get a platinum-based ring for $10000 (GST inclusive).

    I think you’re on the wrong forum mate

    Therefore, feel free to recommend other precious stones or maybe even argyle pink diamond for the ring. Please note that it must, however, be suitable for daily wear and therefore ideally should not be less than 8 on the Mohs scale.

    Are Eneloops considered precious stones? I’m sure it’s suitable for daily wear, not sure about the Mohs scale though

  • onetwothreefour on 29/07/2019 - 06:22
    +4

    Don't forget prenups.

    • SupeNintendoChalmers on 30/07/2019 - 08:58
      +4

      We want prenup!

      • ccrap on 31/07/2019 - 02:36
        +1

        Yeahhh… Prenups something that you need to have

  • crashloaded on 29/07/2019 - 06:45

    All i can say is majority of jewellery priced at 10k retail has a 50% mark up so haggle in true ozb style.

    • magic8ballgag on 29/07/2019 - 07:59
      +1

      This really depends on where you're shopping, as some privately-owned smaller jewellers will source, design and craft most of their products in store. Meaning less mark up and usually a better quality product for the customer.

      • crashloaded on 29/07/2019 - 08:18
        -2

        Disagree.

        • magic8ballgag on 29/07/2019 - 08:20
          +13

          You raise a compelling point.

        • This Guy on 30/07/2019 - 00:03
          +1

          Disagree.

          I will bold why you are wrong:

          "This really depends on where you're shopping, as some privately-owned smaller jewelers will source, design and craft most of their products in store. Meaning less mark up and usually a better quality product for the customer."

          Some is undefined, it could be 1% of privately-owned smaller jewelers , it could be 99% of privately-owned smaller jewelers.

          Yep. I have numerous sources that your statement is wrong, so…

          You have multiple reports that document the profit margin at every privately-owned smaller jewelers???

          Read it again then :)

          We don't have these sources to read. Link??? My speed dial buttons for KPMG, PwC, EY and Deloitte are broken.

          That's nice. I'm sure you can still grasp what the sentence implies.

          You don't understand the word "some"??? Why would you attack another person on their comprehension skills when your lack of them started this silly argument?

          I am sorry if this comes off as a personal attack, I just really want those reports. They would be goldmines

          • crashloaded on 30/07/2019 - 07:51
            -1

            @This Guy: Geez, that makes absolutely no sense, you're quoting 2 different people in your response and your last paragraph is completely baffling.

            Have another crack.

  • Cooperellie on 29/07/2019 - 08:53

    I have heard that the Arglye Diamond mine in WA is closing in 2020.

    This means no more pink diamonds, so the ones out there now will be rarer/more valuable in later years. (I think).

    I really have no idea, just putting it out there FYI.

    • tryagain on 29/07/2019 - 22:51

      Pink diamonds have been going up in value quite a bit too, I think that the 10k budget will put them well out of reach though.

  • Jeromeo on 29/07/2019 - 09:14

    James Allen. https://www.jamesallen.com/diamond-rings/diamond-engagement-…
    They seem to have sales a couple of times a year which make them even better value.

    • GloveM8 on 29/07/2019 - 13:23
      +9

      Blue Nile is better value than JA for Australians. Both sites access the same database of wholesale diamonds, but they are just numbered differently between the two sites, and are priced almost identically. However, Blue Nile absorbs the costs of GST and duties into the displayed price, whereas JA does not (and adds them on top of the price when you check out). This makes JA nearly 15-20% more expensive in ALL cases, even on the exact same diamond.

      If you find a diamond you like, take note of the exact dimensions and details and the GIA number, and filter the search criteria to find the same stone on each site. Use the James Allan listing to view the stone (because the photography is better) and then just buy it on Blue Nile.

      Also, the sales never apply to the diamonds themselves, only the settings.

      Nearly all diamond sites access the same wholesale database, so it pays to shop around and find the cheapest listing and price match it with BN, which can also then be stacked with cash rewards and referral codes.

      I ozbargained the sh*t out of my diamond purchase and saved thousands.

      • Jeromeo on 29/07/2019 - 15:47

        Thanks! I was about to push the button on an eternity ring. I'll have a look at Blue Nile first.

      • llllllllllllll on 30/07/2019 - 15:21

        Was there a recent change? I had to pay import custom fee when it reached Australia about 4 years ago buying from Blue Nile.

      • Thazza on 31/07/2019 - 09:17

        I talked to my significant other, and we agreed to not pay an exorbitant amount on the ring.

        Got a Moisanite instead which was a fraction of the price (and looks just as good to our eyes).

        Rationale is why put the strain now. When we hvae more discretionary spending, then perhaps we would look to 'replace' it.

  • jacross on 29/07/2019 - 09:33
    +3

    Mate, do you really think this is the right forum for that question?

    Part of getting a quality answer is knowing who to ask.

    But yes as someone else said, if you want it to retain value, your biggest problem is retail markup.

  • Seraphin7 on 29/07/2019 - 10:14
    +1

    You will get value by sourcing your stone(s) through a diamond merchant and having the ring made for you by a bespoke jeweller. If you did a direct comparison between this approach and a "high end" retailer, you should expect savings in the 50-60% range.

    • lux on 01/08/2019 - 14:33

      that’s not correct at all.
      your paying two sets of profit margins.
      the guy you buy the rock from and then the jeweller.

      everyone in business makes money - did you honestly think one of the two is doing it for love?

  • holoz0r on 29/07/2019 - 10:28

    check out glamira's website

  • mrsi on 29/07/2019 - 10:34
    +1

    I know a good custom jeweller in sydney that could help you, if you want

  • DarthAntz on 29/07/2019 - 11:02
    +4

    I showed this to my wife, and we both feel $10 000 richer. That feeling is a placebo effect, just like feeling accomplished from going through an 'engagement' by buying a ring.

    Save your money, skip the engagement, and spend the money on time together.

    • 8ro on 30/07/2019 - 20:50
      +1

      Thank you. I have actually set different budgets for various upcoming expenditures and I am in a comfortable position with all the expenses.
      Your comment does remind me of one of my friend who decided to skip the wedding so that he could spend more time together with his partner. It's a neverending pursuit to save money but different people have different priorities and my spending on the ring won't have any adverse impact on the time I would spend with my partner.

      Guy comes home from work, panting, trying to catch his breath, plops down at the kitchen table.
      Wife says, "So why are you so exhausted?"
      Guy says, "Honey, instead of taking the bus home from work today, I ran all the way behind it and saved $2.50!"
      Wife says, "Schmuck! Why didn't you run behind a taxi, and save $15?"

  • slknv on 29/07/2019 - 11:55

    Coincidentally we went ring hunting yesterday (insurance replacing ones stolen, wish they would give us cash but only get credit at a jeweller). Retail stores have a massive markup of 300%. Go have a look in retail stores near you, then price one up from diamond exchange - we're in melbourne but i'm pretty sure they have a sydney outlet too. Good luck

  • trapper on 29/07/2019 - 12:04

    Don't forget to plan a holiday and get the GST back ;)

  • Save Medicare on 29/07/2019 - 12:05
    +3

    Diamond has no inherent rarity. Supply is artificially restricted by cartel like practices of the diamond industry. Synthetic diamond will be greater clarity and size for the price, and availabile in fancy colours.

  • redslert on 29/07/2019 - 12:12
    +1

    Rarity takes precedence over prettiness

    Diamonds are not rare, the supply is controlled.

    • rave75 on 29/07/2019 - 22:59
      +1

      OP knows that obviously, but you are missing the point of this thread!

  • [Deactivated] on 29/07/2019 - 12:13
    +6

    I bought my wife this bridal set from Tiffany's the day I could finally afford it. Although she never said anything to me, she was so embarrassed by it that she told everyone who would ask that it was a fake 🙄 She lost it not so long ago and used the insurance payout to buy a car instead. She's now wearing the ring that I originally proposed with, when I was a poor student who was crazy enough to ask the prettiest girl on campus to elope with him, as both her ering and her wedding ring. She calls it her lucky ring and has rarely taken it off in the 15 years since I gave it to her. I guess some people care more about the sentimental value of things rather than the price tag.

    Did you ask your fiancee what she wanted?

    • GourmetFoodie on 29/07/2019 - 13:54
      +3

      Love the Tiffany set! It's a shame it didn't suit your wife's personal taste. This is why it's so important to get your partner involved in the process of choosing the ring! It's such an individual thing what people like or don't like when it comes to jewelry.

    • redslert on 29/07/2019 - 16:00
      +1

      Note that Tiffany uses their own diamond standard ratings and does not use the most common industry standard GIA.

    • brendanm on 30/07/2019 - 11:34

      Your wife sounds like a good egg

      • [Deactivated] on 30/07/2019 - 12:01

        Yep, she's pretty awesome :)

  • GourmetFoodie on 29/07/2019 - 13:50
    +2

    You sound like the one proposing. Instead of focusing rarity or long term value, I'd highly recommend you find out what your partner loves and desires. That will be worth more than anything else. A lot of women have an idea in their head for years about what they want. If you get her a rare pink diamond, she might be secretly devastated because she always dreamed of a white diamond.

    That aside, long term value is also kind of meaningless unless you plan to sell it. $10k budget is not going to net you a stone that is going to go up in value dramatically. The best quality and most rare stones are far more expensive than this. Especially as you have to take into account platinum being expensive and the cost of the setting. Out of $10k you might have $6-7k to spend on a stone if you're lucky. Also insurance is expensive the more valuable your ring so it cancels out any "infestment return" you might hope to make. Generally speaking you will be doing well if you don't buy from a bricks and mortar store because their markups are insane. Though of course they have the convenience factor and some of the brands like Tiffany you can trust won't screw you completely in terms of quality.

    Regarding rarity. Even stone type has classes of rarity depending on geographic origin, cut, colour grade etc. So it's pretty broad to say "i want something rare". Better to start with what stones you like then go from there. Generally speaking the rarer, the most expensive the stone.

    Many many stones apart from the standard diamond are suitable for every day use but you need to care for them. No cooking with rings, do not shower or swim with rings, do not apply hand mosiutriser over rings. Also the type of setting is important the flatter the setting, the less likely the stone will get damaged.

    Good luck!

    • Excelsior on 30/07/2019 - 09:15

      lot of women have an idea in their head for years about what they want

      Absolutely. My current partner has been dropping a lot of hints already about what she wants!

  • Duram on 29/07/2019 - 14:18

    Invest the money instead, if she really loves ya she won't care. Imagine all the money you save by avoiding the wedding/ring/reception/honeymoon, put that into property / shares.

  • Cluster on 29/07/2019 - 16:56
    +5

    Someone asking about diamonds on OzBargain is like a V8 SUV owner going on a hybrid car forum and asking about vehicle recommendations. We all know which way the discussion will go.

    • 8ro on 29/07/2019 - 20:47
      +1

      The irony is that I did not even ask about diamonds specifically nor do I endorse the belief that they are of the value dictated by the market.
      I had only listed Argyle Pink diamond as an example because they are rare and would meet my criteria, I could’ve just as easily mentioned Ruby or Sapphire.
      I was here seeking opinions around what other precious stone might fit the bill.

      • This Guy on 30/07/2019 - 00:09

        Ruby or Sapphire are cheap 8ro

        • 8ro on 30/07/2019 - 00:14

          Look up Burmese Rubies :)

          • This Guy on 30/07/2019 - 00:21

            @8ro: I am not fond of those colours. You need Platinum, White Gold or Silver to make those pop.

            Cheap or synthetic rubies go great in a gold setting if designed right.

  • dufflover on 29/07/2019 - 17:18
    +2

    I have come up with 2 possible conclusions:
    1. Troll thread (as mentioned, it's so blatantly, too blatantly against the type of OzB mindset)
    2. OP is asking a genuine question, so I'm not sure how genuine the Mrs-To-Be is then. If the thread is must spend 10k then sounds like someone has been ultra (profanity starting with p)-whipped and should run the other way.

  • thefud on 29/07/2019 - 17:49

    I purchased my diamond from James Allen - process was very straight forward and came with GIA certificates, laser inscription on diamond etc. Hand made (not cast), set in platinum with another couple of smaller diamonds in a pave design in Canberra by Aharoni Jewellery. All in cost $6500 in 2015 including GST, import taxes and duties.

    Quoted for same design, by two Sydney jewellers $10-11k in 2015.

    Personally I skimp and save on every purchase and this was no exception - that said, we live a frugal lifestyle and wanted something special for the engagement. The wedding is in November and we purchased two rings from Blue Nile. Mine cost $600. :)

  • skywards on 29/07/2019 - 18:12
    +1

    The OP can’t ask anywhere else because all the wedding forums have been replaced by Pinterest.

  • ozoner on 29/07/2019 - 18:44
    +5

    After I crushed my original wedding wing in a window frame (don't ask), I've been rocking one of these for about 4 years now :

    https://www.aliexpress.com/item/32650448613.html?spm=a2g0o.p…

    I didn't trust the seller on size, so purchased the size I thought I wanted, plus one size either side. Still gave me enough change out of $20 to buy a coffee or two, and it's the most comfortable (albeit slightly heavy) ring I've ever worn. Can recommend.

    (Plus, you earn your ozbargain badge for tightass of the year)

    • fantombloo on 29/07/2019 - 20:02

      Looks great. Probably qualifies as more "rare" than what the OP has described.

      • ozoner on 29/07/2019 - 20:48

        There are some much fancier looking ones for around the US$20 mark (heyyyy big spender). I truly don't understand why people pay hundreds for a wedding ring these days.

        https://www.aliexpress.com/wholesale?catId=0&initiative_id=S…

        • brendanm on 30/07/2019 - 11:36
          +1

          Muh diamonds. Must look richer than Bob next door etc etc

        • spiff on 31/07/2019 - 11:08

          By fancy do you mean tacky

  • ozoner on 29/07/2019 - 20:51

    If you're a true ozbargain professional, you'll wear this - currently around AUD $1 shipped to your door!

    https://www.aliexpress.com/item/32788352237.html?spm=a2g0o.p…

    • gimme on 29/07/2019 - 21:39
      +1

      That's how much my wedding band cost. Didn't even bother with some nonsense engagement ring. 16 years later loving life and each other's company. Food for thought

  • sa-ozzie on 29/07/2019 - 20:54

    Don’t get married and spend the 10k on ozbargain deals

  • shamid202 on 29/07/2019 - 22:38

    here is the scenario if you want to return the ring.

    I am looking to get a platinum-based ring for $10000 (GST inclusive).
    15min after purchase: sir i want to get my money back. answer: NO
    how much would you buy it back, Answer: its not worth more than $250 to us.

  • Trying2SaveABuck on 29/07/2019 - 22:56

    This is a pretty big purchase and as a man feel like im less then not qualified to answer it - my advice is ask your wifes best friend what she wants in a engagement right

    Good luck hope she has yes!

  • murkywater on 29/07/2019 - 23:00
    +3

    It's amazing the number of rich people we have on Ozbargain

    • Trying2SaveABuck on 29/07/2019 - 23:01
      +5

      Most people that are frugal have money for the exact reason they are frugal

      • gimme on 29/07/2019 - 23:41
        +3

        Also ppl who pay for overpriced social norms aren't necessarily rich. Just misguided imo but hey not my money.

        • 8ro on 30/07/2019 - 00:11
          +1

          Absolutely correct. Ability to buy does not necessarily mean that the person can afford the purchase.
          Also, value and bargain are often subjective and based on perception and personal circumstance.
          $100 might mean a lot for someone, whereas it might just be pittance for the next.

  • BartholemewH on 29/07/2019 - 23:23
    +2

    I imported my wife's ring from White Flash (Houston) when the AUD was stronger. I did plump for a stone from their 'Cut Above' line but she wanted a princess cut and these are stones in their possession that come with ASET imaging etc in addition to GIA certs. The reason that people who research their purchases still buy diamonds over coloured stones is that the grading and certification system assists greatly. Try comparing coloured stones or buying them sight unseen and see how far you get. Then try buying something of guaranteed origin, untreated. Not fun at all. If I could recommend anything, buy Platinum or Palladium settings so you don't need to Rhodium plate all the time. Also, buy a Round Brilliant stone as performance characteristics are more consistent and choice of stones is much broader than the princess cut I purchased.

  • This Guy on 30/07/2019 - 00:46

    Draw what you want. Talk to a jeweler. Draw it again with their changes. Commission the ring. Easy?

    Which jeweler? Ask for stupidly complex custom rings from chain stores. When they give you a price, tell them your budget is half that. They should recommend you to the best, non over priced jeweler in town. If you don't trust them, try the chain jeweler down the road. After a few stores one name should stand out. Go talk to them.

    Spend the money on the design and the workmanship.

    Most jewellery stores and all chains outsource commission work to other jewelers.

    I wouldn't waste money on 'rare' gems if your goal is value in 80 years. 'rare' gems are only rare NOW because limited numbers have been extracted now. If a gem is rare and it's value goes up, people will find more to mine. We currently have several billionaires making rockets to mine resources off earth… Even if you manage to keep your nice paper certificate 'proving' providence of a gem for 80 years and that gem stays rare, how are you going to prove the gem in the setting is that actual gem and not a synthetic copy with a forged barcode?

  • nomekop on 30/07/2019 - 04:36
    +1

    I got my ring in Melbourne and also my brother got it here in the CBD. I will repeat what many people said before: You are expected to haggle! Price tags are for rich tourists that just come with their partner and buy a ring on the spot. I would say that you can expect at least a 20% discount and it can be as dramatically as 40% (that was the case for my brother's ring). Be smart and don't fall into that trap.

    About cost, the value of gold and platinum bands is pretty well stablished even in between different countries, so you can always know the approximate cost. The big difference is the diamond and design. I agree that used rings are your best investment and haggling can get you a decent price. But is in NO way investment, as you will never will be able to sell for what you paid. Jewelry stores sell at least with a 20-40% profit for item as they sell very few on a day, so if you try to sell it back you will be very disappointed.

    Finally about the practical side, be aware that for 10000 you will get a diamond that make it a bit difficult to use around (one of my closest friend's wife has to constantly take it off, or not wear it at all), so indeed discuss with your future fiancé what is her preference. Some woman really dislike some colours, or prefer specific designs so in the end for the cost. You are just buying something to show it off, so might as well make sure it fits her

  • geoffs87 on 30/07/2019 - 06:39
    +4

    Curious to why you need to retain value? Will you need to sell the ring down the track and hope to recover your money.

    I for one never hope my wife’s wedding band/engagement ring need to be sold…

  • morse on 30/07/2019 - 07:43

    I recommend finding a jeweller and having something custom made. I used a jeweller in Sydney, happy to pass on name. You could look in shops prior to get some inspiration. A jeweller can usually work on designs with you and source stones to suit.

    I considered a peach sapphire (similar look to morganite, but harder and therefore durable), but there wasn't one available in the time frame I was working with. I'm not sure how this would go with platinum though (I have a rose gold ring), warm tones suit my skin much better.

    I think a Ruby would look great with platinum. It really depends on the style of ring you are going for, the skin tone of the wearer and colours typically worn.

  • hypie on 30/07/2019 - 07:51
    +1

    Can't afford a Pink diamond (big enough to notice it's pink) for $10k total budget. I bought my diamond from an Australian wholesaler and then got the ring and design done by Linneys.

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