- Courtesy of Pura Soul Photography
- Nicole Wegman started Ring Concierge, a fine jewelry business specializing in bespoke engagement rings, in 2013 by posting and selling diamonds on Instagram.
- The biggest misconception Wegman sees when people buy diamonds is understanding the four C’s: cut, clarity, color, and carat weight. She said most people want a colorless diamond without inclusions.
- Wegman likes to suggest prioritizing carat weight in the budget over color and clarity.
Now, Wegman and her NYC-based team of six sell hundreds of engagement rings a year. The fin-jewelry business specializes in custom engagement rings that start at $10,000 and can go into the six figures. For comparison, the average cost of an engagement ring in the US is $6,000, Wegman told Business Insider.
Wegman said the biggest decision behind each ring is, unsurprisingly, the diamond itself – but that people come in with certain misconceptions, too.
“The biggest misconception is, people will come in and say, ‘I did research online and I read about the four C’s and I think I need to have a colorless diamond with barely any inclusion,'” Wegman said.
The four C’s refer to a diamond’s cut, clarity, color, and carat weight. Diamond clarity reflects a lack of blemishes or inclusions, which many stones naturally have. The GIA International Diamond Grading System assigns grades that range from flawless to obvious inclusions, which affects the stone’s value.
“In reality, I always suggest dropping lower in color and clarity and allocating a bit more of the budget toward carat weight,” she continued.
Part of the Ring Concierge experience is a one-on-one meeting with Wegman and her team, whether that is in person or remotely. Wegman sees clients that come in and request a specific grade of diamond with a set budget. But when they try on the diamond they think they want, she said they are often times underwhelmed.
“They say ‘this isn’t as big as I thought it was going to be.’ And I’m like, ‘you know what, for the same price you can get a three-carat diamond if you’re just a little more flexible with color and clarity,'” Wegman said.
Creating a ring that suits the client’s tastes – and their lifestyle
Once a diamond is chosen, Wegman works with clients to understand how the ring will be worn to create a setting that is fashionable, durable, and timeless – but also lifestyle-appropriate.
“Let’s say they want the thinnest possible ring covered in diamonds … but they have three kids, they go to the gym every day, and they never take their ring off. That’s probably not the best decision,” Wegman said. “That’s too delicate a ring for your lifestyle. So, we’ll think of ways to get them that look they want, but cater towards the way they are going to be wearing it.”
Wegman added: “We like to get clients the most bang for their buck without sacrificing the look of the ring. So, we like to find ways to drop down on the paperwork a little bit, not have it impact the diamond visually, and then just get them a large carat weight – which, ultimately, the women want.”