There are many factors to consider before purchasing a diamond engagement ring, and one of the most practical aspects of this process is the question of financing the purchase.

The old fashioned rule stating that an engagement ring should cost three month's of a man's wages, is now a thing of the past. There's no hard and fast rule dictating what percentage of your income you will spend, though you can expect to spend at least $2,000 (with the average American engagement ring running near $4,000).

For example, you can get a sophisticated three-stone engagement ring, like the ArtCarved ring at right, for $1,735. In the middle of the price spectrum lies the the gorgeous, contemporary-feeling Bella Vita engagement ring, from Mervis's Halo Collection, for a little more than $3,000. On the higher end of the price range, consider the Tacori HT from the Channel collection at around $13,000--and have her feeling regal as a queen.

So now that you've found the perfect cut and style of diamond, how can you take it home with you to surprise your sweetheart? You've got two main financing options:

Through Your Jeweler

• Does this store have any lines of credit available?
• Are you partnered with any credit card companies that are running credit lines for purchases like these?
• Are there any seasonal promotions going on right now? (Usually winter holidays and Valentine's Day give rise to such promotions.)

Through Your Bank, or Other Financial Institution

Don't be intimidated by taking out a personal loan! In the world of banking, the loan for an engagement ring is relatively small (compare it with the price of four years of college tuition or a new house).

Also keep in mind that the interest rates on personal loans tend to be less than those on credit cards. Research the terms at your current banking location, and determine if it's wiser to charge the ring on your current credit card, or to take out a personal loan.

Finally, know that your personal loan options from a bank are a secured, or an unsecured, loan. In a secured loan, you will offer the bank collateral--which they can repossess if you are unable to make loan payments. In an unsecured loan, you offer no collateral, but will pay a higher interest rate. 

At Mervis Diamond Importers, we believe in forming a personal relationship with our customers. Contact us today or stop in to one of our three locations in Maryland, Washington DC, or Virginia for consultations on the style and quality of your engagement ring, as well as your options for financing this purchase. We know that this is an exciting time in your life--so let us be there for you while you take the next big step: committing to the partner you love.

Engagements and weddings are important life milestones steeped in tradition and etiquette. One such tradition relates to the placement of wedding and engagement rings on the bride's ring finger.

It’s customary for brides to receive two rings. An engagement band before the wedding, and a wedding ring during the ceremony. Your first ring is a promise of marriage. The second solidifies the promise. Sometimes knowing which one goes where can be a bit confusing.

Day of the Wedding

On your wedding day, you should switch your engagement ring to the third finger on your right hand. During the ceremony, your future spouse places the wedding ring on your ring finger. The custom of the third finger on your left hand being your ring finger originated in Egypt, where people believed the vein in that finger led directly to your heart. By placing the wedding ring on that finger, the groom ensures that it is in the position closest to your heart. Yes, definitely romantic!

 
Engagement Ring Etiquette

Once you’re married, tradition dictates that your engagement band be moved back to the third finger on your left hand. When you do so, your wedding ring should remain closest to your heart (where your spouse placed it on your wedding day) and your engagement ring is placed next to the wedding ring.

Some women choose to ignore ring etiquette, and instead infuse their own style on the custom. Some variations on the traditional ring placement include:

• Continue to wear the engagement band on the right hand 
• Forego wearing the engagement band 
• Weld the rings together 

Regardless of how you choose to wear your ring, the most important thing is that it be comfortable for you and sized properly.

Follow Tradition or Become a Trailblazer

Years ago, it was tradition for a man to purchase an engagement ring with a diamond setting. However, times have changed. Other precious stones are also acceptable on an engagement ring.

Another tradition is for you and your spouse to have matching wedding bands. For instance, if you have a gold wedding band, then his would be gold as well.

Many couples are choosing to incorporate their unique style with traditional ring etiquette.
There are no rules for most faiths on how to wear wedding rings. Whether you want to become an engagement band trailblazer or stick with tradition is up to you. 

Engagement and wedding rings are more than beautiful, sparkling pieces of jewelry. They are symbols of your love and future and should be treated with care and respect.

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Those buying diamond engagement rings for the first time can feel a bit intimidated. There are a lot of things to consider beyond just your budget. Every diamond is unique, as is the person purchasing it and the person who will be wearing it.

My husband purchased my diamond engagement ring about 15 years ago. He did it secretly all on his own and bought the most brilliant and romantic diamond that, in my eyes, is something Wonder Woman could have used as a secret weapon to temporarily blind her opponents.

A few years later, we had to have the ring appraised to renew the insurance policy. My husband pulled out this certificate (who knew diamond engagement rings came with certificates?) and he told me how nervous he was back then to venture out and make this big purchase all on his own. It was his first foray into what he thought would be an intimidating diamond purchasing adventure. He went to the Mervis location in downtown DC and said he had to walk through a special doorway and worried briefly that he wouldn’t pass muster to go further. But they welcomed him in, sat him down and put him at ease by giving him a little intro on what to look for in a diamond.

The 4Cs -- Cut, Color, Clarity and Carat Weight

CUT:

The cut is the most important of the 4Cs. The cut of the diamond affects how much light it refracts and reflects. A meticulously cut and polished diamond will manipulate the light to make for the utmost beauty and brilliance, as light reflects from facet to facet and pours out of the top (or “table”). A poorly cut diamond, on the other hand, will be less brilliant as light spills out of the bottom and sides. The cut goes way beyond the shape alone -- oval, princess, round brilliant, emerald, etc. The cut is the only factor of the 4Cs that is not dictated by nature, so it is important that you seek a diamond that was cut by the hands of a master craftsman. Gemological Institute of America (GIA) assigns grades to the cut: Excellent, Very Good, Good, Fair, Poor.

 


 

COLOR:

“Aren’t all diamond engagement rings the same color?” you ask. No, they aren’t. The ideal diamonds are colorless, like water. They are the most expensive, because they are the rarest. The color of diamonds range from colorless to yellow, and each diamond is assigned a color rating from D (colorless) to Z (yellow). But remember that the 4Cs work together. Just because a diamond is not completely colorless on the scale, it does not necessarily mean it can’t be beautiful. Again, a meticulously cut diamond can make all the difference in the world.

Another factor in grading the color is fluorescence, or the emission of visible light when exposed to ultraviolet radiation. On a diamond certificate, you will see fluorescence exhibited as none, faint, medium, strong, and very strong. Flourescence can have a positive or negative effect on the beauty of a diamond, depending on where the diamond is on the color scale I mentioned in the previous paragraph.

 

CLARITY:
Most diamonds have tiny imperfections or “inclusions.” The fewer and less detectable those imperfections, the more valuable (and rare) the diamond. Like the previous Cs, there is a grading scale for clarity, ranging from internally flawless to imperfect:

IF - Internally flawless
VVS1, VVS2 - very, very small inclusions, category 1 and 2
VS1, VS2 - very small inclusions, category 1 and 2
SI1, SI2, SI3 - slightly included, category 1, 2, and 3

 

CARAT WEIGHT:
This seems to be the factor most people emphasize and remember when they talk about diamond engagement rings. “How many carats?” Carat weight is indicated by points, with each carat being 100 points. If a diamond is 150 points, it weighs 1.5 carats. But don’t go by weight alone. As you just learned, there are many factors that affect the beauty of a diamond and it is about so much more than just the number of carats. The 4Cs will help you determine the diamond that sings to you.