Consider other shapes
Round, brilliant-cut diamonds are the most popular shape for engagement rings - and perhaps not coincidentally, the most expensive per carat, says Matlins. Opt for a significantly less expensive oval, marquis or pear cut, which carry more of the carat weight at the top, thereby appearing larger. At Diamonds.com, you'd pay $8,209 for a round diamond （1.01 carats, F, VS1, very good cut） set in white gold. In comparison, you'd pay $5,717 for the same ring set with a pear-shaped stone of the same attributes; $6,174 for a marquis, or $5,803 for an oval.
Not all shapes offer such a great deal, though. Steer clear of radiant and princess stones if you don't want to stretch your budget. "These shapes, though popular, tend to have a lot of carat weight at the bottom, which can make them look smaller," she says.
Go generic
Tiffany & Co. boasts of its "Lucida" stones, Kay Jewelers showcases the "Leo Diamond" from Leo Schachter Diamonds, and Hearts on Fire's eponymous diamonds are sold by independent jewelers nationwide. Such branded diamonds employ trademarked precision cuts to maximize brilliance. As a result, these stones cost 15% to 20% more than a generic （i.e. unbranded） diamond of the same attributes, says Martin D. Fuller, an independent jewelry appraiser based in McLean, Va. You're paying for the name, not necessarily a better stone. And should that brand lose favor with fickle consumers, there's no added value down the line.
Cut loose
Buying a loose diamond from a wholesaler can save you hundreds of dollars. The savings will more than make up for what you'd pay to have the stone put in a setting. A half-carat stone （G, VS2, very good cut）, for example, has an average retail price of $2,238, but could cost as little as $1,272 when purchased through a wholesaler, according to Diamond Review, an independent diamond education and pricing web site. Shenoa & Co. in New York City's famed diamond district has several that fit the bill, ranging in price from $1,140 to $1,458.
Skimp on the setting
No one will be ogling your fiancé's ring for the band, says Mauer. "Focus your spending on the center stone, rather than the setting," she says. At Diamonds.com, a platinum setting with a half-carat in accent diamonds is $2,205, while a simple cathedral setting in platinum is $875. If you have your heart set on a fancy setting, consider swapping pricey platinum for white gold or palladium （a member of the platinum family）, which offer a similar look for less than half the price. In 18K white gold, those same Diamonds.com bands would be $1,107 and $490, respectively.
Hone your haggling skills
The markup on engagement rings can easily be 300% over wholesale costs, so there's plenty of wiggle room when it comes to negotiating a lower price, says Matlins. "Mall chain stores have the highest markup, ironically because they're so competitive," she says. "To afford the occasional 50%-off sale, the regular retail price has to be much steeper." Independent jewelers tend to have slimmer profit markups, as well as more leeway to offer discounts. In such a competitive market, many jewelers will give you a deal for buying the whole ring （instead of having them set a loose stone you bought elsewhere）, or for agreeing to come back later to purchase wedding bands. Because credit-card merchant fees are high, some stores will even give a 3% discount if you pay by cash instead.liuxuepaper.com