August 20, 2014

Best Time to Buy Jewelry

When Is the Best Time to Buy Jewelry?
This article contains references to products from our partners. We may receive compensation if you apply or shop through links in our content. You help support CreditDonkey by reading our website and using our links. (read more)

Diamonds can quickly change from a girl's best friend to her worst nightmare. By timing the purchase just right, you could end up with a token that gives you great joy ever day and not a financial heartache.

It doesn’t matter how irresistible that pair of earrings, tennis bracelet, or wedding band looks through the shiny glass case. If you or your significant other buys it without having the funds to cover the cost when the bill comes, the interest charges on that pricey gem will add up month after month.

This doesn’t mean the jewelry of your dreams can’t be yours one day.

Did you know: You can save over 40% by buying a diamond engagement ring online? Read our analysis on the best places to buy engagement rings online.

Here are the best times of the year to buy jewelry:

March

January is the month to take advantage of the post-holiday sales, but chances are you don’t have the money to put down for new jewelry. February ushered Cupid into the homes, hearts, and wallets of consumers, when deals on jewelry are not necessarily their best. But March stands out as the perfect opportunity to get a great deal on jewelry since the shopping and gift-giving mayhem has blown over. While you may not see a sale on every corner, buyer power is at an all-time high because of the decline in customers coming into the stores to make a purchase.

Late May

If you didn’t get a chance to pick up your bling in March, try again in May after Uncle Sam collected his taxes and is giving out refunds. You should be able to find a good deal during this window because retailers know many Americans have some extra cash in their wallets. And retailers may be especially eager to make a deal if their Mother’s Day sales did not live up to their expectations.

July and August

These two months are also rather slow for jewelers since consumers are focused on wrapping up the summertime fun and preparing for the upcoming school year, but not on decorating their necks and fingers with shiny objects. Look for price reductions on items throughout stores, ranging from 15 to 40 percent off.

Where is the Best Place to Buy an Engagement Ring?

ForDiamond Retailer
Best Place to Buy OnlineJames Allen
Biggest Selection & PriceBlue Nile
Best QualityWhiteflash

How to Save Money on Buying Jewelry

  • Don’t forget about the clearance items.
    We’re not just referring to the advertised sale items in the weekly circular but the actual clearance section in the department stores, such as J.C. Penney, Macy’s, and Dillard’s. And if you can pair your item with a coupon, you could easily save up to 75 percent off the original price.

  • Expand your horizons.
    Instead of patronizing jewelry stores in the mall, try branching out and exploring the options available in warehouse clubs, such as Sam’s and Costco. You could easily save 20 percent or more on select inventory. (For more information about buying jewelry from Costco, see how the wholesaler ranks in our article about the best places to buy an engagement ring.)

  • Visit the outlet mall.
    If there’s one in your area, look for price reductions of up to 50 percent on fine jewelry throughout the stores. Many of the jewelry outlets like to send out coupons to their email subscribers and regular customers, giving you a bigger bang for your buck.

  • Avoid gift-giving seasons.
    With gift-giving seasons come increased demand and prices, so avoid the busier shopper periods around Valentine’s Day, Mother’s Day, and Christmas. The exceptions to the rule are Black Friday and Cyber Monday.

  • Shop online.
    For diamonds: Online retailers such as Blue Nile, James Allen, and Whiteflash are worth considering. We like Blue Nile for their wide selection, James Allen for their 360 degree photos, and Whiteflash for high-end diamonds.

    Tip: Thinking of buying an engagement ring? Read our guide on how to buy an engagement ring.

    For second-hand jewelry: I Do Now I Don’t is an online retailer that comes to mind. It offers great values on second-hand fine jewelry, and its story is quite unique. It gives jilted jewelry givers a way to sell their regretted purchases (return policies at major jewelers are not very forgiving) and get back some of their investment. Regardless of which online retailer you use, confirm the website is legit and that all diamonds are certified by a licensed gemologist.

  • Be realistic.
    You may possess a wine taste on a beer budget, so enjoy the shopping experience, but let your wallet be your guide. You’ll be better off in the long run if you stick to how much you can afford (remember the warning about interest charges!).

Allison Martin is a contributing writer at CreditDonkey, a diamond jeweler comparison and financial education website. Write to Allison Martin at allison@creditdonkey.com. Our data-driven analysis has been recognized by major news outlets across the country and has helped women make savvy financial and lifestyle decisions. (read more)

Disclaimer: Opinions expressed here are those of the author's alone. Please support CreditDonkey on our mission to help you make savvy financial decisions. Our free online service is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content.

More from CreditDonkey:


Diamond Prices


How Much to Spend on an Engagement Ring


Best Place to Buy Engagement Ring

More Articles in Money Tips

    Best Place to Buy an Engagement Ring

    May 28, 2014 - Reviews for Diamonds
    Buying an engagement ring is one of the biggest purchases you'll ever make. It comes attached with deep emotions, major nerves, and perhaps even uncertainty. It might also be one of your first major purchases at a time when your income is far ...

Leave a comment about Best Time to Buy Jewelry?

Name
Email (won't be published)


Interracial Marriage Statistics

17% of married couples today are interracial. This wasn't the case just 50 years ago, though. Richard and Mildred Loving helped make it possible with their sacrifice and willingness to fight.
More Articles in Love









About CreditDonkey®
CreditDonkey is a diamond jeweler comparison website. We publish data-driven analysis to help you save money & make savvy financial decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the card offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.