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Ounce for ounce, fine jewelry costs more than any other major purchase you're likely to make. At its most expensive, jewelry can cost as much as a new car or even a house, yet you can cover it with the palm of your hand. Fortunately, you can also find more budget-conscious adornments that cost less than the car you drove to the jewelry store.

Choose Lookalikes

Precious diamonds, rubies and emeralds are royalty among gemstones, and their prices reflect their status. However, like any royal family, they have plenty of noble relatives with less regal aspirations. Semiprecious stones cost less than their precious counterparts, but they're still genuine gemstones. Garnets, green sapphires, moissanites and some varieties of blue topaz closely resemble precious gems.

Change Your Metal

Check the gold you're buying. Lower-karat gold costs less than higher-karat versions but looks just as beautiful. Opting for silver or white gold instead of costly platinum can also save you money on jewelry purchases.

Prioritize

For wedding jewelry and anniversary presents, sometimes only diamonds will do. Jewelers grade diamonds by cut, color, clarity and carat weight. Decide which one or two characteristics are most important to you and shop accordingly. It's easier to find a beautifully clear white diamond for a good price when you're willing to scale down.

Of all the C's, color may offer your best opportunity to economize. Diamonds set in yellow gold take on a warm hue anyway, so a diamond in a lower color grade is hard to distinguish from a whiter diamond in the right setting.

Negotiate

You're unlikely to pay list price for a car or a home, and the same principle applies to major jewelry purchases. Jewelry retailers in chain stores typically increase the wholesale price of an item by 40 to 70 percent. While you're unlikely to get the wholesale price, you can negotiate a discount.

Know When to Shop

Holidays mean discounts in retail jewelry stores. Sales associates work on commission, but during holiday sales, they also get special incentives to sell featured items. Shop for mother's rings or birthstone jewelry near Mother's Day, diamonds near Valentine's Day and anniversary jewelry throughout June to get the best prices.

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