Ring Engagement

The so-called ‘luxury diamond engagement rings’ tend to cost more than ordinary diamond engagement rings. Confronted with such higher prices, two groups of people tend to react differently. The first group is that of people who may be referred to as ‘sentimentalists.’ These will tend to cough up the higher prices demanded for the luxury engagement rings without a whimper. The fact that they are advertised as ‘luxury diamond rings’ is enough justification for them to pay more for the rings. The second group, on the other hand, is that of people who may be referred to as ‘pragmatists.’ Confronted with the higher prices associated with luxury diamond rings, these tend to react by expressing skepticism, and subsequently asking for justifications. To these people, justification (in terms of extra value borne by the diamonds) has to be given, for them to pay the higher prices associated with luxury diamond engagement rings.

With the interests of such ‘pragmatists’ in mind, then, we venture to look at five justifications for the higher prices associated with luxury diamond engagement rings. In other words, these are reasons as to why being charged such higher prices for the luxury engagement rings shouldn’t be viewed as being fleeced:

1. These rings tend to be made of high carat weight diamond. And as we all know, high carat-weight diamond tends to cost more than low carat- weight diamond. It follows then, that if the people who make the luxury engagement rings are to recoup their investments, they have to sell the ‘luxury’ rings at higher prices. But the person who buys such rings, in turn, knows that he or she is getting real value for money, in terms of diamond carat weight. These are diamonds which would still fetch huge sums of money should the need ever arise in the future to resell the rings.

2. These tend to be rings made with diamonds of unique cuts. One of the major determinants of diamond jewelry value is the type of cut employed in making the diamond used (in the jewelry). If you take your time to compare the cuts of the diamond employed in making luxury diamond rings with the cuts on ordinary diamond rings, you notice that the cuts on the former category of jewelry are truly unique; hence their higher value.

3. These tend to be rings made of unique-colored diamonds. Unique colored diamonds are rare, and expensive wherever they are found. It follows then, that engagement rings made from such rare-colored diamonds would tend to cost more.

4. Unique diamond enhancements tend to be employed in making these rings. The value of diamond-based jewelry can be increased through the use of diamond enhancements. To the extent that the same are employed in the diamonds which are in turn used to make luxury diamond rings, the total value of such rings goes up – hence the justification for the higher prices associated with such rings.

5. Uniquely clear and florescent diamond tends to be employed in making these rings. The value of diamond is further determined by its florescence and clarity. And to the extent that only the clearest and most florescent diamonds are used in making luxury diamond rings, it follows that the value of such rings would tend to be higher; hence the ultimately high prices associated with them.