NYCWD was interviewed for the latest featured article on the website Beyond4Cs.com. A fascinating article that gathers information from some of the industries biggest players and asked them “When is the Best Time of the Year to Buy a Diamond Ring?”
Ever since Beyond4cs.com was launched, the site had helped thousands of people around the world find their perfect engagement ring. Interestingly, some of the questions I get asked repeatedly are “When is the best time of the year to buy a diamond ring?” and “Are there any diamond sales that take place during certain times of the year?”
Speaking from my own shopping experience, I can definitely empathize with readers asking questions like these. After all, a diamond ring purchase usually embodies an emotional attachment as well as a significant financial commitment.
I mean, who wouldn’t want to save money on a big-ticket item when possible?
If you had been shopping around, I’m sure you would notice a spike in jewelry ads screaming “50% off your diamond ring!” during the festive season. You probably also notice sprawling banners in jewelry stores offering “huge discounts” during certain times of the year.
Could it be true that there are certain months or certain days of the year that would be ideal for purchasing a diamond ring? Are there certain periods of the year where you can get a better deal for engagement rings?
Well, that’s exactly what we set out to discover…
Where Better to Get Answers Than to Ask Professionals in the Industry?
I figured it would make the most sense to get answers directly from people working in the jewelry industry.
After all, you would expect to get the most accurate answers straight from the source and directly via professionals who understand the business.
Over the last 3 months, I reached out to jewelers, appraisers, gemological associations and businesses on a global scale. I asked each of them the same question: “When is the best time of the year to buy a diamond engagement ring and why?”
And guess what? Some of their replies might actually come as a surprise to you.
Keith Saxe, President and Founder, NYC Wholesale Diamonds
“There are many wonderful times of the year to best buy a diamond at the most significantly discounted pricing.
To best succeed in this quest, it is most wise to first avoid buying at ‘wrong time of year’.
Avoid making your purchase at these two time frames:
1. Avoid early February. Most retailers represent markdowns for Valentine’s Day but actually are selling at higher pricing.
2. Avoid Thanksgiving to Xmas. Most retailers represent markdowns for the holidays but actually are selling at their highest pricing.
Best Times:
The best time for lowest pricing is after these two periods, especially in January after the holidays. Retailers are burdened with inventory, and have bills to pay. Perfect combination for the buyer.”