The Hidden Costs of Owning a Diamond Engagement Ring
Diamond engagement rings are often seen as a timeless symbol of love and commitment. However, while the sparkle may be captivating, there are hidden costs associated with owning one. Beyond the price tag at the jewellery store, diamond engagement rings can bring about financial, ethical, and emotional considerations that many buyers might overlook. 1. The Financial Burden Diamond engagement rings are notoriously expensive. The price often depends on the diamond's size, cut, clarity, and colour, with costs ranging from a few thousand dollars to tens of thousands. But the financial impact doesn’t end there: Insurance Costs: Many owners purchase insurance to protect such a valuable item, which adds an ongoing expense. Maintenance: Diamonds require regular cleaning and inspections to maintain their brilliance and secure the setting. These services can add up over time. Resale Value: Diamonds typically depreciate in value, making it easier to recoup your investment if you ever need to ...