Diamonds, emeralds, rubies, sapphires – when jewelry shopping, the number of gems, and certainly their prices, can seem overwhelming. Gemstones are priced the way they are because of the laws of supply and demand: more people want gemstones than are readily available. This is why a diamond can cost $500, while a bicycle at Target can cost $79. More people want a diamond than a department store bike. The trick when buying jewelry is to get the most for your money.

Generally, there are a few situations when you shouldn’t try to skimp, like when you are buying an engagement ring, or an emerald for your 50^th anniversary. However, most of the time you could be paying too much for your jewelry.

First of all, think about what piece will look good with most, if not all, of your outfits. Sure, that flashy ring with the giant emerald is beautiful, and definitely expensive enough to show off, but if you wore it with anything red or orange, you would look like either a strawberry or a pumpkin, which is definitely not the look that you’re going for.

Secondly, in the world of jewelry, name brands don’t always equal quality. Many times, a piece of jewelry almost identical to that $2000 Tiffany piece can be found at your local jewelry store for a quarter of the price, and you’ll be able to form a relationship with your local store, and support your local economy. Plus, if your $500 necklace breaks, you’re guaranteed to get much better customer service with your local jeweler than you are at the department store in Chicago where you bought it.

Finally and most importantly, you need to consider which gem is the most appropriate for your situation. For weddings, diamonds are far and away the best and most traditional choice, but for other occasions, tradition usually dictates that a colored stone be given as a gift. Visit my blog soon for an article all about traditional and contemporary anniversary gifts.