Guide to buying the Perfect Diamond Ring in Singapore... at 10% Off
Congratulations! You’re ready to take the plunge and propose to the love of your life. But before you get down on one knee, there’s one important thing you need to do: buy an engagement ring.
Purchasing a diamond ring is no easy feat, especially in Singapore. It’s a high expense item in an industry with plenty of marketing BS. No worries though - with a little planning and research from this guide, you can find the perfect ring for your special someone.
Your 5 steps in buying the right ring
- Set your budget
- Understand her requirements
- Research online
- Shop together in-store
- Buy alone, potentially abroad
Step 1: Set your budget
Setting a budget helps narrow down your options and avoid overspending.
The budget for an engagement ring is a highly personal decision and can vary greatly depending on individual circumstances. Some people may choose to spend several months’ salary on an engagement ring, while others may opt for a less expensive ring or even choose to forgo a ring altogether. You usually hear the benchmark of ‘spending 3 months of your salary’, which can be very low or very high depending on how much you earn.
Ultimately, the most important factor is to choose a ring that reflects your love and commitment to your partner, and fits comfortably within your overall financial plan. It’s important to prioritize your financial stability and avoid overspending on a ring, especially if it could lead to financial stress in the future. Communication with your partner about expectations and preferences can also help ensure that you both feel comfortable with the budget and the ring you ultimately choose.
Step 2: Understand her diamond requirements
Here’s a top tip every man should know - there’s an inverse relationship between surprising your lady with a ring and getting the ring that she wants. I’m in the camp of ‘getting it right’ given I’ll be spending a hefty sum. This means asking all the right questions beforehand, researching online for inspiration and going into the store for further exploration and fitting. The element of surprise that you should fall back on is the proposal itself versus what the ring looks like.
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| Surprise versus getting it right |
As part of understanding what she wants, here’s my list of seven ultimate questions to make sure you’re hitting her requirements
- Does she want a diamond?
- Does she want a natural or lab diamond?
- Does the brand of the ring matter?
- Does she want to design her own ring?
- What are her 4C, shape and setting expectations? (more on that below)
- Can she tell the difference between the 4Cs, i.e. between a D and H in colour?
- What is her ring size?
Let’s unpack some of these.
Diamond or something else
Diamonds are a classic and traditional choice for engagement rings, but other gemstones can offer unique and beautiful alternatives. Some popular gemstones for engagement rings include sapphires, emeralds, and rubies. These stones are known for their vibrant colors and can add a pop of color and personality to an engagement ring.
Natural vs lab diamond
TLDR - there’s not a huge difference between the two appearance wise. I’d recommend buying a lab diamond if your partner is ok with it given it’s much cheaper.
Lab-grown diamonds are created in a laboratory setting by replicating the conditions that result in the formation of natural diamonds. They are made up of the same material as natural diamonds, which is pure carbon arranged in a crystalline form. Natural diamonds, are formed over millions of years deep in the earth’s mantle under intense heat and pressure. They are mined from the earth and can vary in quality and size depending on where they were formed. Both types of diamonds have the same physical and chemical properties and can be virtually identical to the naked eye. Lab-grown diamonds are MUCH cheaper than natural diamonds (up to 4X) less than natural diamonds of the same quality and size. Please don’t buy a moissanite or some cubic zirconia. Your partner deserves better than that.
4Cs
Carat weight - This refers to the weight of the diamond and is often the most well-known of the 4Cs. One carat is equal to 0.2 grams, and diamonds are typically sold in fractions of a carat. Carat usually ranges from 0.5 to 2.5, with inflection price points at 1, 1.2, 1.5, 2. For example, a 1 carat diamond is disproportionately pricier than a 0.95 carat diamond given its nice rounded number.
Cut - The cut refers to how well a diamond has been cut and shaped to maximize its brilliance, fire, and overall beauty. A well-cut diamond will reflect light and sparkle more than a poorly cut diamond, even if the other 3Cs are the same. Cut grades range from excellent to very good to good, fair then poor. Ignore marketing BS that says your diamond has a heart and arrow pattern (example) - all excellent cut diamonds will naturally have this.
Color - This refers to how colorless or “white” a diamond is. The less color a diamond has, the more valuable it is. Diamonds are graded on a scale from D (colorless) to Z (light yellow or brown). Aim for something in the range of D to H for a less yellowish diamond.
Clarity - This refers to the presence or absence of blemishes or inclusions, which are internal or external flaws in the diamond. Diamonds with fewer inclusions and blemishes are considered more valuable. The acceptable range I see is between Fl and VS2.
Whilst cut and carat may be more visible to the naked eye, clarity and colour is not. Check if your partner can tell the difference as a tier in colour or clarity can mean the difference in a few hundred or a thousand dollars. More on this later, but it shows the importance of knowing what factors can be traded off whilst working with your budget.
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| Source - vrai |
Setting and shape
When it comes to choosing a ring shape and setting, there are many options available. Here are some of the most popular ring shapes and settings:
Ring shapes:
- Round - This is the most popular and classic diamond shape, known for its brilliant sparkle and versatility.
- Princess - This square-shaped diamond is also popular and has a modern look with sharp corners and brilliant sparkle.
- Cushion - This diamond shape has rounded corners and is known for its vintage-inspired look and romantic feel.
- Emerald - This rectangular diamond shape has long facets that create a “hall of mirrors” effect and a sophisticated, elegant look.
- Oval - This diamond shape is similar to round but has an elongated shape that can make fingers appear longer and more slender.
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| Source - Diamonds Factory |
A ring setting is the part of a ring that holds the gemstone in place. It is typically made of metal (such as gold, platinum, or silver) and may feature prongs, bezels, or other types of clasps to secure the gemstone. The setting can play a big role in the overall look and feel of a ring. For example, a simple and classic prong setting can highlight the beauty of a center diamond, while a more intricate and ornate setting can add character and personality to a ring. Each luxury brand has their signature setting so be sure to check them out!
Step 3: Research online
To ease into the subject with your partner, I’d recommend first starting off with online research, whether that’s looking at jewelry sites or taking a peak at your friend’s engagement ring photos. Take the chance to feel out what she likes and make a mental note of it.
Step 4: Shop together in-store
Alongside the traditional jewelry powerhouses, more and more boutique / local brands have popped up.
Local Singaporean brands
- Lee Hwa Jewelry: Around since 1970 and is one of the largest fine jewelry retailers in Singapore. They offer a wide range of jewelry pieces, from traditional to contemporary designs
- SK Jewellery: Affordable and trendy jewelry pieces that are perfect for everyday wear. They offer a range of designs, from minimalist to statement pieces.
- Jann Paul: JannPaul’s signature product is the “Super Ideal Cut” diamond, which is cut to perfection using precise mathematical calculations to maximize the diamond’s brilliance, fire, and scintillation
- Love and Co: One of Love & Co.’s signature product is the “LVC Promise Diamond,” which is a diamond that has a special inscription on the girdle of the diamond. This inscription is only visible under a special magnifying glass and serves as a symbol of the couple’s promise to each other
- Carat 55: Carat 55 offers a personalized service where customers can work with their team of expert designers to create unique and custom-made jewelry pieces.
These brands have a mix of lab / natural diamonds at various price points, and are great value options. The quality of the diamond may vary but you’ll still be able to get top end stuff if you select the right rock.
International brands
These brands may cost up to 3-6X more than the local brands listed above. You’ll be paying a premium for the guarantee of a quality diamond, stellar craftsmanship and brand prestige.
Each brand has its own rich history and heritage. Cartier has been around since 1847 and has a long history of creating iconic jewelry pieces for royalty and celebrities. Harry Winston is known for its high-quality diamonds and has been a favorite of celebrities for decades. VCA was founded in 1906 and is known for its unique and intricate jewelry designs. Tiffany has been around since 1837 and is known for its iconic blue box and classic designs. Graff is a relatively newer brand, founded in 1960, but has quickly gained a reputation for its exceptional diamonds and innovative designs. Note - DeBeers is no longer in Singapore but you can always order them online. Chopard does exist but selection is limited.
Try these brands on! As much as similar designs exist amongst them, the emotional feeling for each ring differs.
How pricing works
For local brands - here’s a pricing guide from Jann paul that I really like. For a 1 carat diamond ring price, lab grown will be around $3500 SGD and natural will be around $10000 SGD.
For international brands, pricing really varies. However, I can give you the directional economics behind pricing for one of these international boutiques
- Change in carat: +0.01CT → $200 SGD
- Change in clarity: +1 range in clarity (VS1 to VVS2) → $700 SGD
- Change in colour: +1 in colour (H to G) → $3K SGD
- Change in metal: Rose Gold / Yellow Gold to Platinum Gold → $600 SGD
Again, these are factors you can trade off to best fit the ideal ring in your budget.
Resale value of diamond rings
I would not bank on it reselling for the same amount, unless you’re buying a high quality diamond from an international brand. Overall, the resale value of a diamond can range anywhere from 20% to 60% of its retail value, depending on the factors mentioned above. It’s always a good idea to get an appraisal from a reputable diamond dealer or jeweler to get an accurate estimate of the resale value of your diamond.
Step 5: Buy alone
First off, I recommend buying the diamond alone to maintain the surprise factor and to keep the price of the ring under wraps. Second, I recommend buying the diamond outside of Singapore if you are buying from one of the international brands. Prices are generally the same internationally, but tax refunds will allow you to save up to 12% (country dependent) of total price. Say you are looking to buy a SGD $30,000 ring. Instead of buying it in Singapore, buying it in Paris will cost you $26,400 instead. That’s $3,600 in savings. You can totally fly to Paris for the weekend, pick up the ring and fly back to Singapore and you’ll still be spending less than buying in town! Even if you declare and pay 7% GST when you bring the ring back to Singapore, you are getting a 5% discount. Always buy abroad if you have the option. It’ll make your expensive ring feel like an affordable ring.
In conclusion, buying a diamond ring can be a significant decision that requires careful consideration. It is essential to understand the different aspects of diamond quality. Whether purchasing an engagement ring or a piece of jewelry for a special occasion, it is crucial to work with a reputable jeweler who can provide guidance and advice on selecting the perfect diamond ring. With proper research and a clear understanding of your needs and budget, buying a diamond ring can be a memorable and meaningful experience that will bring joy and happiness for years to come. I know I loved my ring shopping journey.
I hope this guide is helpful to provide a glimpse into ring buying in Singapore. Let me know if you have other ring shopping tactics. In case you missed my last post, I talked about best places to buy gorceries in Singapore. Subscribe now so you won’t miss out on the next post.