Find your diamond
Find your jewelry
shape
carat
color
clarity

Well, shoot!

Indylady

Indylady

Ideal_Rock
Joined
Apr 28, 2008
Messages
5,777
I found a stone that I love.

Except, its a $1,000 over our entire ring budget.

But, its a pretty pink diamond!!

I cannot justify spending our original ring budget+$1,000. We're students and will be for the next few years. We don't have major expenses or any debt at the moment, but that could always change.

Do I have the $$? This is the kicker. Yes. I almost wish I didn't, cause then this wouldn't even be an issue.

Questions I have for you all:

Did you go over budget? Are you glad you did, if you did go over budget?

Did you stay under budget, and gleefully throw your extra cash into a kiddie pool so you could roll around in it? (ok, you don't have to answer if you don't want to.)

Dear Suze Ormon's of LIW, please talk some sense into me!
 
well...do you have a link to the stone? any chance the vendor can give a discount if you purchase both stone and setting from them?

My BF gave me a 'range' for our budget, instead of a fixed number. We were in the range but closer to the top of it (hey, what are you gonna do!)

ETA it sort of matters the size of the budget...if your whole budget is 2,000 then going 1,000 over is HUGE. but if your budget is 20,000, then going 1,000 over is...well...not as significant as a percentage of the total?

also have you seen the stone in person? are you sure you loooove it? I think we need pics ;) :)
 
In the grand scheme of things 1k is not a ton of money. Would you be willing to put the stone in an uber cheap 14k setting for now? You could spend very little to get a cheapy setting. Or you could get the diamond and save more for the setting you really want. I know my stone is for me, perfect. I'm not sure I could have been as happy with another stone if i hadn't gotten it.
 
What coincidental timing... I'm in a bit of the same situation at the moment. We've just started looking at rings and I'm just not sure we can get my forever ring in our currently decided budget. It's taking a bit of a toll on me at the moment... SO has made comments about not wanting to upgrade. I think that makes him feel insecure, he wants to get me everything I want and more... now.

And I definitely feel you on the bittersweetness of being able to afford more... We could definitely afford more than we are spending but we're trying to be realistic and plan to buy a house in a few years. Again... causing some internal turmoil for me. 9 days out of 10, I'm totally logical and am content with our budget, but that 10th day... I don't want to regret my decision to be frugal on a once in a lifetime purchase. Ahhh sorry I'm totally being devils advocate.

I agree with what slg said about how that 1K relates to the overall size of your budget, that could make a big difference.

Idk, I haven't found a ring that gives me butterflies yet so I haven't been as tempted to outstep our budget. If you don't think you'll upgrade and you think this stone is perfect for you, I say go for it.

I don't really have any advice unfortunately, but I'm interested to see what others say. And we definitely need some pictures!
 
When you set a budget, you sat down and thought long and hard about what you could comfortably afford. I feel very confident in saying that you set your budget where you can afford something nice, but not so high that you can get just anything. You made this budget when you were thinking clearly, and the budget needs to be law. It was set without emotions (well, the kind of love-type emotions we have when we find an amazing stone) as a rule to follow precisely BECAUSE we make bad money decisions when we make them with our emotions.

Stick to your budget.
 
Could you find the extra $1,000 somewhere else in your overall budget? If it is something you REALLY want, you shouldn't have a problem sacrificing something else to get it.
 
stepcutgirl said:
In the grand scheme of things 1k is not a ton of money. Would you be willing to put the stone in an uber cheap 14k setting for now? You could spend very little to get a cheapy setting. Or you could get the diamond and save more for the setting you really want.
Click to expand...
I completely agree with this! 1k isn't such a huge deal when you look at the big picture and consider that you'll be wearing this item everyday for the rest of your life (or unless you upgrade). I would buy the stone and just set it in a cheap setting for the time being, and also make some sacrifices in your daily life to replace the $1000. If it's something that you really want, you'll find a way to make it yours. Good luck!
 
Few things to consider:

How much do you love the diamond? Think about what else you've seen - does this one stand head and shoulders above the rest so much so that you would be devastated if someone else bought it tomorrow?

Since it's a pink diamond, what are the chances you will find something similar within your budget?

How long have you been looking and how desperate are you to buy now?

Would you be just as happy with a different stone or does everything else look "blah" in comparison?

Those are the emotional questions to consider...

...but about the budget, that is solely tied to your personal situation. Like others have said, going 1k over a 5k budget is much more meaningful than going 1k over a 20k budget. Will you or your SO feel less secure if you go over budget? Will there be increased financial anxiety if you spend more? Personally, I don't think any diamond is worth causing financial strain, so maybe you just need to think about how important 1k is to you right now versus how important this stone is to you. I think you'll come up with the right answer for you.

And on a personal note, I just bought my stone and ring. And let me tell you, there is always something you love that is juuuust a little more than you would like to spend. Happens to everyone.
 
I would also see if there was any room for negotiation with the price of the stone.
 
Honestly, I am going almost twice over my original budget to buy the stone I love. Ugh. But my self enabling rationale is that if I find a stone I *have* to have and I can technically afford it, I better grab it. It might never come along again.
 
Our original 'Max' budget was 10k for the ring. When we started shopping I found a lot of stones that I loved, but as I continued to think about it, I just couldn't justify 10k on a ring. I decided that even though FF was willing to pay 10k I would try to find something I loved under 8k. Then we went shopping and I found two diamonds. One was 8k and the other 6k. I decided to go with the 6k diamond and the total for the ring came out to somewhere around 7k (I don't know exactly how much, but I'm ball-parking).

I am very pleased that we came in under because now that extra 3k that we didn't spend can go to a longer honeymoon for the two of us. To be frank, here is my reasoning: I was engaged before. I was engaged for two years (no wedding planning, we knew it wasn't going to work just couldn't admit it). In that time, I spent countless hours staring at my ring and wishing we hadn't spent so much on it because about a year later, it seemed rather silly.

I remembered that experience and so this time around I decided that I wouldn't put so much thought/heart/love into the ring, because eventually it is going to pale in comparison to the relationship itself. And for me, I would rather do something nice with my FF than have a large diamond.

What you should remember though, is that the wedding/honeymoon are not lasting. After the party is over you've got one tangible (aside from the relationship, of course) thing, and that is the ring. Considering this, I decided to downgrade the wedding for the ring (otherwise the wedding would be 18-20k and the ring 4-5k). So it really just depends on your priorities.

If you can cut the $1000 from the wedding budget or somewhere else and still break eve, I say go for it! If not, then it depends on what you and your FF decide is reasonable.
 
I agree with slg-- we need some pictures :naughty:

Read and re-read Princess' post over and over bc we are all devils here and are distracted by the shine :devil:

But in all honesty my SO and I went about $1120 over the first budget we talked about(which would be the lower end of the range) range 10-12K (lets say for instance). For us, it wasn't going to break the bank at that point considering how much we were already spending and how much we would have spent if we didn't find PS. He fell in love at first sight with the stone and for me it was the setting. Now, if you are already having second/guilty doubts I think you need to step back and observe what is important to you and the future. You said you have the extra amount, but is that amount going to be of better use somewhere else for you? My SO had a certain limit he definately, definately didnt want to go over (end of the range) because then it would cut into the money we have in mind for other things such as wedding/honeymoon/ down payment etc. If this is happening then I don't think its worth it, but if not then go for it. You are going to be wearing it for the rest of your life and if it makes you both very happy then cheers! We don't regret it one bit.

I believe you have to trust your gut feeling... is this the one diamond? Have you seen anything else you've liked? Did you and your SO talk about it and weigh pros and cons? Its true that there is always going to be something that will make you drool or your heart beat a little faster but you have to make sure its the one thing that will keep you feeling like that!
 
IndyLady said:
Questions I have for you all:

Did you go over budget? Are you glad you did, if you did go over budget?
Click to expand...

We went over budget and I am VERY glad we did! I adore my ring. And I know that the extra money we spent would have disappeared in some other way, as money seems to do. This way, it was spent on something that brings me immense pleasure and joy every single day. If you have it, spend it.

Not much help, eh?

As an aside, we all make choices about how to spend our "disposable" income, some on cars, vacations etc. If the ring is important to you then I think you should spend what you need to get what you want. If other things are more important, then spend less and put your money towards those other things. This all assuming you are not taking on debt for the ring of course.
 
Thank you all!

Thank you Slg, SSG, Calisto, Princesss, Amc, Glitz, Cali, Mashira, Dawna, and Dreamer!

Slg- I'm scared to lose it by linking it! Its a pretty baby pink. I haven't seen it in person. The company is definitely reputable though. Its similar in color to this diamond from DBL. I guess you could say we have a range. Its a range of $0-to our current budget, hehe.

SSG- That's part of the issue; I'd want the perfect setting for this diamond, and then we'd be way over budget. I'd def. be willing to do a temp, but eventually we'd have to plunk down the $$, and part of what's bugging me is putting that many $$ to an e-ring. Current budget+$1,000+more for a setting..is even harder for me to justify. You are definitely right though, $1,000 in the grand scheme isn't that much. Its not so much about the $$ as it is about the principle over a) going over and b) spending that many $$ on a ring.

Ok, at this point I realize I've built this baby up to sound like its a lot. This diamond is pretty affordable and I'm not talking about a $20,000 purchase, so don't worry!!

Callisto- I hear you on the future costs front. We'd like to buy a home one day too. I wonder if we'll find a great opportunity on something serious, and then go, "dang, I wish I had those funds saved up!"

Princesss- Darn you. :cheeky: Just kidding. I agree with you. I wish I didn't, but I do.

Glitz- I agree as well. It could be done and it probably won't make a huge overall dent in my life, though you may see a thread in Hangout asking for Ramen recipes.

Cali- Since it's a pink diamond, what are the chances you will find something similar within your budget? Unlikely, but possible. This pinkie is actually reasonably priced. Very reasonably priced. And its VS2 in clarity.

How long have you been looking and how desperate are you to buy now? Looking for a few months, but not desperate at all to buy and in no rush whatsoever. Wasn't even thinking of making a decision for another six months to a year.

Would you be just as happy with a different stone or does everything else look "blah" in comparison? I'm a practical sorta gal, so yes, I'd be ok with something else. The only think I'm so gaga over that I'd never exchange is probably my SO, hehe. I'd be happy with a ruby or pad sapphire as well, but yes, many stones do look blah compared to this one.

Would I be devastated (this somehow got cut-off from my copy paste) if it was bought? I'd be sad, but not devastated. I'd definitely go, "GAHH!!" Maybe I'd be devastated. I'm not sure. I'm not liking thinking about the possibility that someone else would buy it, so maybe I I would be quite unhappy.

Amc- Good suggestion! I'd asked for a "final offer" sort of price. Hopefully they'll get back to me soon!

Nashville- Have you found the one? Congrats!! Is this the one that might get a recut?

Mashria- An extended honeymoon sounds awesome! Good call. Thanks for the perspective. That's one thing I really, really don't want to do: look at my ring and think it was silly to have spent so much. We're in a decent position financially at the moment, but things change, and most everyone goes through rough times. I never want to have spent so much on it that I'd look at my ring and think it was frivolous, or worst, that I might have to sell it.

Dawna-I'm definitely having doubts/guilty thoughts. I'm glad to hear that you two didn't regret going over. Its very reassuring. We expected our budget to be our max, but we never set a "tippy top max." Perhaps that's something for us to consider. Thank you for instructing me to re-read Princesss' post! 8)

Dreamer- I adore your ring too!! We're not taking on debt. Lifestyle, and choices of where we want to put our money, are definitely important considerations. We're ok with putting money towards our passions; he puts his towards concerts and music instruments, I put mine towards jewelery..we're happy to do so. We don't care so much about designer clothes, bags, phones, sunglasses, etc. so those are places where we don't put our money. What I'm more concerned about is a) grad school costs or b) rainy days, esp. since we are starting out right now.

Thank you all for your advice!! I appreciate it sincerely! ::)

Indywantsadiamond.jpg
 
Found the diamond, the photo looks exactly the same, .72 carat right? - guess I'm just a bit confused as to why you said it wasn't a $20,000 purchase as the stone is listed much higher then that. Anyway, at that price an extra $1,000 doesn't seem bad.
 
oops meant to edit the last one - oh well. I pulled the same photo from the vendor and this person lists it as an I1(though you said VS2) ????

r3068aalkjfelwajrlaehr.jpg
 
I think Indylady is posting a stone of similar color but not the actual stone for fear of losing it!~
 
aahhh :D Yup it's the blonde roots showing :cheeky:
 
Indylady, my questions were more for you to ask yourself to see how much you really want this stone. Seems like you'd be happy with the purchase and only regret it if there was some horrible twist of fate. I hope you get it and post it here! Good luck with your decision!

Edit- I thought I'd add my little story. When my bf told me that I could start looking for rings, I set a budget in my head and pushed forward. When I went to him with my favorite choices and how much they would cost, he almost keeled over and died. I guess he didn't realize how much a girl could spend if she wasn't given parameters :naughty:. I then found a stone I absolutely loved and it was less than my initial choice, so fortunately my choice was approved. Maybe we're weird, but we didn't set a budget - my bf just wanted me to find something I loved and wouldn't want to change. From this, all I can say is I really hope that you can get exactly what you want, it's a great feeling to know you didn't have to settle and I wouldn't change my choices for anything.
 
Sparkly, Slg is correct; its only a diamond that is like the one I'm considering. It is not "the one" though! Hehe. The DBL diamond would be many thousands over my budget.
 
If that is the diamond in question I am sorry to say it does not look well cut -- it has darkenss under the table in that photo and also looks to have a very large table. If you want a colored gem then I would suggest finding a radiant because they retain the most color in the gem material and optics are secondary. In an RB, you lose twice over with a colored stone -- it will show less color and many/most of the colored stones out there are not well cut and thus will not sparkle. Though I want you to get something you love, ultimately with RBs I really think cut matters the most, so make sure you are getting it!

And thanks for the compliment on my ring!

Another thing I think about when I make a large purchase is that if you don't get *exactly* what you want, then the money you spent is wasted. If you spend $5000 and it is not exactly what you want, in my opinion the money feels completely wasted! If I spend $1000 more and get something I love utterly and completely, then the whole enchilada is well spent. So the extra $1k makes a big difference -- the difference between wasted money and well spent money. That is worth a lot to me.

This was partly my thought process in my upgrades. I had spent a fair amount and had 2 lovely diamonds last year, but neither was exactly what I wanted -- one too low in color and one too low in clarity. I ended up basically paying 100% more for this upgrade to my present diamond, and though I struggled to justify it, this one is exactly what I wanted. I don't look at it and think I wasted my money, like I did with my previous diamonds.

Value is not just monetary, it is also perception. Just food for thought!
 
I think it in the end - if you love it so much and it's 'the one' - you should get it.
Only if you can afford it though.

Otherwise later you will look at your ering and regret not getting 'the one'.

With the budget - it just means you'll have to budget somewhere else to make up for the loss. :)
Maybe in wedding or something.
 
Yes! It is the stone I'm looking into getting recut.

I think $1,000 is a drop in the bucket if it will give you a lifetime of enjoyment. And honestly, how many people will you see in a lifetime that have a PINK diamond? :love:
 
Dreamer_D said:
If that is the diamond in question I am sorry to say it does not look well cut -- it has darkenss under the table in that photo and also looks to have a very large table. If you want a colored gem then I would suggest finding a radiant because they retain the most color in the gem material and optics are secondary. In an RB, you lose twice over with a colored stone -- it will show less color and many/most of the colored stones out there are not well cut and thus will not sparkle. Though I want you to get something you love, ultimately with RBs I really think cut matters the most, so make sure you are getting it!

And thanks for the compliment on my ring!

Another thing I think about when I make a large purchase is that if you don't get *exactly* what you want, then the money you spent is wasted. If you spend $5000 and it is not exactly what you want, in my opinion the money feels completely wasted! If I spend $1000 more and get something I love utterly and completely, then the whole enchilada is well spent. So the extra $1k makes a big difference -- the difference between wasted money and well spent money. That is worth a lot to me.

This was partly my thought process in my upgrades. I had spent a fair amount and had 2 lovely diamonds last year, but neither was exactly what I wanted -- one too low in color and one too low in clarity. I ended up basically paying 100% more for this upgrade to my present diamond, and though I struggled to justify it, this one is exactly what I wanted. I don't look at it and think I wasted my money, like I did with my previous diamonds.

Value is not just monetary, it is also perception. Just food for thought!
Click to expand...

I think eightstar has some beautifully cut colored rounds :) :) :)
 
If the stone is well cut and you don't want to upgrade then I would buy it as you do say you love it. But try to negotiate price first.
After all, $800 over budget seems a lot better than $1000 right? If this was a standard RB then I would say pass on it but pinks are difficult to come by.

However do ask yourself why this is so reasonably priced. Is the colour desirable? Will it hold true in various lighting? Does the cut work to enhance the colour? Caveat emptor.
 
We didn't have a budget. We just kind of looked around and when I saw "the one" he knew it, and immediately put a down payment on it. The ring is paid off now, so I am assuming it was not out of his price range. My boyfriend and I also do not have a lot of money to spend, but we save for the important things :)

Good luck! Pink diamond sounds gorgeous!

I am editing this because.. as another person mentioned before, NEGOTIATE, NEGOTIATE, NEGOTIATE!

When we went to the jeweler where I found my "dream" ring, I told him it was 1,000$ cheaper at a chain mall store down the road (the diamond I loed was even bigger than the mall store :)) hehe). He was not happy with that! He knocked the price of the diamond down 1400$, 1000 to match the other stores and then another 400 just because. They are a family owned business, and HATE to lose business to those huge chain stores. Besides, they were more personable and I never have to send my ring out to get cleaned, or fixed if need be. They do everything right there. So even if you have to tell a little white lie to get a cheaper price, usually most places will reduce the price! Unless, of course its a mall store and their hands are tied! Good luck again!
 
I say go for it. Honestly, $1k, and even the extra you would spend to get the setting of your dreams, is not going to make or break getting a house. At no point during the house hunting process will you say "Man, I wish we had $3,000 more!" That kind of money in housing terms is kind of chump change, unfortunately, so I think you should spend it now, on something you will have and love forever. Plus, you're currently students, so what seems like a lot, will no longer seem like a lot once you have jobs. When you're making good incomes and putting serious money away for a house, I don't think you'll look back and regret a few extra thousand spent on a gorgeous ring that you adore.

Budgets are nice, but sometimes you realize that what you budgeted is not realistic to buy what you originally set out to get. I think it's fine for budgets to change.
 
I think it depends whether or not you you be able to find something else that you love equally.

I'm not really sure that our budget was ever set in stone. We originally thought $10k would be our maximum, but then started looking at things in person, and decided to change it to about $15k. We found our perfect diamond for $12k (without tax) though, and the store threw in the platinum classic Tiffany setting for free. If we had paid for the setting, I guess it would have been a minimum of $13.5k all together, including tax.

I know that if I had fallen in love with something a bit more expensive though, my boyfriend would have gotten it for me - he just would have had to put it on layaway for awhile. If this is what you have your heart set on, then it might be worth it to you to spend that extra $1k. As someone else already said, it also might depend what your original budget is. When you are dealing with bigger numbers, $1k doesn't seem like as big of a deal anymore.

Good luck!
 
I would advise seeing the diamond in person. It might not call to you in real life. If you are going to change your budget you should see it with your own eyes first.

I would love a pink diamond so if you love it when you see it, buy it!
 
Just FYI, if a store can drop the price significantly when you ask, it suggests the diamond/ring is overpriced to begin with. You can bet they are still making a good margin of profit on the "bargain" price as well.
 
You must log in or register to reply here.
GET 3 FREE HCA RESULTS JOIN THE FORUM. ASK FOR HELP
Jewelry Blog
PriceScope-Concierge-Ad
Find prime cuts.
Top