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Posted by on Apr 2, 2013 in Blue Nile, Cash Back, Ring, Top Cash Back | 0 comments

Massive Savings on Diamond Engagement Rings through Blue Nile

I always feel that buying a diamond engagement ring is like buying a car. A lot of people don’t know what they should be looking for or how to negotiate for the lowest price. Before they know it, they’ve spent a lot of money and the salesperson has somehow convinced them that they got a great deal. The diamond industry is probably the savviest industry that exists. For example, they artificially hold down the supply of diamonds to force prices up. Then they propagate the idea that the amount you spend on a diamond engagement ring is a correlation of your love for your future spouse.

So it should come as no surprise that they tried to crush Blue Nile when it first came on the scene in 1999. Blue Nile is the largest online retailer of diamond engagement rings and because of more efficient operations, they are able to offer diamonds at significantly lower prices than a traditional store. Of course, retailers in the diamond industry did not like that and circulated the idea that it’s safer to buy a diamond in store or that the live customer service is valuable in making such an important purchase. Somewhere along the way, the notion that buying a diamond online is taboo or not as romantic also emerged.

The truth is Blue Nile sources their diamonds from the same place that every other diamond retailer does. By purchasing from Blue Nile, however, you won’t have to deal with pushy sales people and you will get a way better price than if you went shopping at Tiffany’s or even a store in the diamond district, which supposedly has better prices (but really doesn’t compared to Blue Nile). Also, you can save a ton of money by using cash back portals.

 

Example

I’m not going to run through what the four Cs are as I am far from a diamond expert. Besides, Blue Nile will teach you all about diamonds on their education website. Instead, I’m going to walk you through buying a diamond engagement ring from beginning to end.

Step 1: Go to your favorite cash back portal search engine and search for, “Blue Nile.”

Cashbackmonitor - Blue Nile

Cashbackmonitor – Blue Nile

 

Step 2: Since Top Cash Back is offering the highest cash back at up to 12%, you’ll want to go through Top Cash Back. You’ll notice that orders up to $499 receive 12% cash back while orders $499.01 to $7,500 get 7% cash back. Still not bad! You’ll also see a coupon code, “SPECIAL20”, at the bottom. Keep that in mind for later.

Top Cash Back - Blue Nile

Top Cash Back – Blue Nile

 

Step 3: Once at Blue Nile, just build your own ring using the criteria filters. For the purpose of this example, I searched for an ideal cut diamond that was at least 1 carat and had a color of F or higher and a clarity of VS2 or higher. You can hover your mouse over the diamonds that show up to learn more about their individual details, then select your diamond. As of this post, Blue Nile has 87,912 diamonds! You won’t find that kind of selection at a normal diamond store.

Blue Nile diamond

Blue Nile diamond

 

Step 4: Once you’ve selected your diamond, you’ll need to pick a setting. For this example, I chose a classic six prong platinum setting for $520.

Blue Nile setting

Blue Nile setting

 

Step 5: Now this is the interesting part. You’ll notice from the first arrow that I tried to use the SPECIAL20 coupon code. In this case, it doesn’t work since the coupon code was meant for regular jewelry and you are buying a diamond engagement ring, but sometimes you will come across a coupon code that works. At the next arrow, you’ll see that it says, “your order is eligible for affiliate reward.” If you see that, it means success and you followed the steps correctly; you will be receiving cash back from Top Cash Back. If you don’t see that, then you did something wrong along the way so cancel the order and start over. Finally, the last arrow points to the sales tax information. Sales tax will be collected for orders shipped to New York and Washington.

Blue Nile checkout

Blue Nile checkout

 

Step 6: Now I’m not suggesting you do this as a way to avoid sales tax, but if you live in New York or Washington, you can have the ring shipped to a friend or family in a nearby state, such as New Jersey or Oregon. You won’t pay sales tax now, but you will have to declare that when you file your taxes next year and pay sales tax then. So you do get the benefit of not having to pay sales tax for the rest of the current year. Yes, some people probably don’t pay sales tax by doing the above and don’t declare it come tax time, but that would be lying on your taxes. Again, I am not an accountant, and my comments should not be taken as tax advice.

 

The Main Point

The total of our example order came out to $7,395. With the 7% cash back you will receive by going through Top Cash Back, your total amount spent comes to ($7,395 * .93) = $6,877.35 saving you $517.65! That is not small change and hence why I suggest you get in the habit of only shopping through a cash back portal, especially for large purchases.

I dare you to find a diamond store that will sell you a diamond engagement ring with those specifications for $7,395 let alone $6,877.35. It’s just not going to happen. By going through Blue Nile, you’ll avoid all the sales pressure, shop in the comfort of your own home, and save so much more money. If you’re worried at all, Blue Nile has a hassle-free 30 day return policy, and they will also send you a free ring sizer in the mail if you need that.

 

Disclaimer: I receive referral credit for some of the links above if you sign up through them, which I appreciate

 

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