This Is The Best Time To Buy An Engagement Ring

Don't get gouged by high prices when it's time to pop the question.

Buying an engagement ring can be an exciting process. A ring symbolizes the clear intention of walking down the aisle, whether it's picked out secretly by one partner, or chosen as a couple. However, considering that an engagement ring is meant to signify a lifelong commitment, it's rarely an inexpensive purchase. In fact, according to a study from The Knot, the average engagement ring costs north of $6,000—that's 21 percent more than the average price in 2011. Still, with a little advanced planning it's possible to get that ideal piece at an equally-ideal price.

Like most items, jewelry operates seasonally, with better and worse times to purchase. It's no surprise that buying a winter coat on sale at the end of winter is generally cheaper than buying a coat just as the cold season starts, and it's no different with engagement rings. Unsurprisingly, the holidays are the busiest diamond buying season, and that includes engagement rings. Sales stay up through February with plenty of proposers planning to pop the question as Valentine's Day rolls around. Every year, November through February is prime diamond ring buying season, and since vendors can count on a steady stream of buyers, prices are at a premium.

However, after the holidays many vendors are looking to clear out leftover inventory to make room for new styles. While catalogues and stores advertise more 'sales' during the fall and winter holiday season, prices actually tend to be lower from March through October. One thing to keep in mind is that high-quality diamonds never really go on significant sale; most fine print reveals that promotions rarely apply to center stones. Still, a lower price on the rest of the ring or a slightly lower overall price is better than paying the all-time high.

Buying an engagement ring during the off season, March through October, can offer a better value even if you are planning to pop the question during the holidays. Rings often need to be resized or altered, which can take longer than expected, so leaving yourself some lead time just in case is the safest bet. Now that you know the best time to buy, it's time to browse The 20 Engagement Rings For Every Budget.

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