It is probably safe to say that most people consider diamond engagement rings as a financial investment. However, these are also an emotional investment. The same can be said about wedding rings and other pieces of jewellery with great sentimental attachment. Therefore, when it comes to upgrading, it can be a struggle to decide whether doing so is appropriate or not.
There is some practical advice we can offer our readers and customers about diamond upgrades. Right from the start, remember that upgrading any sort of diamond jewellery is a very personal decision. There is no right or wrong choice here. If you have what you believe to be very valid reasons for upgrading, then by all means speak with your jeweller about the options available to you. If you feel as if you want to upgrade just for the sake of doing so, step back and think about it. Here is a list of things to consider:
Reasons for Upgrading
On any given day, a customer may come into our jewellery store in Toronto thinking of upgrading a diamond ring. Some want to upgrade because they want a new ring that fits with today’s trends and styles. Others might want to upgrade in order to increase carat weight. In the end however, it all comes down to how you feel about your diamonds.
Because diamond engagement rings and wedding rings are so personal, it is important that you always have jewellery pieces you feel good about. So do not upgrade just because there are new style trends in today’s market. If a new style will make you feel good about your rings, go for it. Nevertheless, if not, do not do it. Your new style will be out of date in just a year or two anyway.
You might also be considering an upgrade for investment purposes. The question is, would you ever sell your rings? If not, then you are not really putting money into investment. So don’t look at your rings that way. Instead, look at them as pieces of jewellery that bring you a sense of enjoyment and satisfaction as you wear them.
If it is true that couples can easily get themselves in debt purchasing diamond engagement rings, it is also true they can do so with diamond upgrades. This is why it is vitally important to consider your budget before upgrading. Make sure you can afford whatever options you choose, before you choose them. Nothing ruins a diamond upgrade faster than finding yourself in an unmanageable debt situation.
The last thing to consider is the statement you want your jewellery to make. In other words, upgrading a smaller stone to a larger one simply because ‘big’ is in is not necessarily a wise decision. Sometimes subtle changes can make for very impressive upgrades without being ostentatious. You might opt for adding a few smaller stones to your existing band, for example. On the other hand, perhaps you might decide to leave your current diamond completely untouched in favour of purchasing a companion band to be worn on the same finger. There is a lot you can do without actually modifying your current diamond.
Diamond upgrades are something we do at Engage Diamond Studio. We are a customer-oriented jewellery store in Toronto making only custom pieces designed for each individual client. Please visit our Toronto showroom to see what we offer in personalized diamond engagement rings and wedding rings.