Cutting Costs on Jewellery

The cost of buying jewellery, whatever the occasion, can quickly add up. Check out our handy ideas on how you can still give someone the perfect gift without costing a fortune.

A close up of a woman's neck with two minimalist gold necklaces along with her hand with a small, gold ring on.
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Whatever the occasion, jewellery is the perfect gift for a friend, family member, or loved one, but it might cost you a small fortune. That’s why we’ve compiled a list of some of the best ways that you can cut down the cost of jewellery, so you can still make someone’s day extra special, without breaking the bank. 

Avoid Big Brands

A pair of dainty silver rings in a white ring box with black velvet inside.

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Although big jewellery companies have beautiful pieces, they’ll likely run up a serious bill as they often have a higher markup on their products. This is something to watch out for, particularly around seasonal periods like Valentine’s Day.  

Moreover, while this is not true for all larger corporations, it is important to acknowledge that some may not be transparent about how they source their jewellery and may use unethical practices that are harmful to their workers and the environment. 

So, next time you’re purchasing jewellery, do your research beforehand and look for companies that take pride in their transparency, sustainability, and ethical practices. 

Choose Plated Metal Jewellery

A close up of silver rings inside a jewellery box.

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When shopping for silver or gold jewellery, cut the cost in half by opting for silver-plated or gold-plated jewellery. 

The main difference between solid-metal jewellery and plated-metal jewellery is the percentage of metal in the item. The smaller the percentage of silver or gold, the more affordable the jewellery. 

The one caveat to this is that plated jewellery tends to tarnish faster over time and may not last you as long as solid gold or silver. With that said, according to Learning Jewelry, generally, gold-plated jewellery lasts for about two years, while silver-plated jewellery can last up to five, if not longer with good care. 

So, for those who want the look of silver or gold without the luxury price tag, it’s the perfect alternative.

Shop the Sales

Letters spelling SALE stacked on top of each other, next to a pink shopping trolley in front of a peach background.

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Most retailers hold regular sales where you can save yourself some serious cash. In particular, though, Black Friday is a great opportunity to bag some extra savings on those high-ticket items. 

During the Black Friday sales in 2023, Pandora offered 30% off charms, Goldsmiths offered up to 50% off bracelets, Swarovski had up to 40% off sitewide, and Beaverbrooks offered up to 50% off all jewellery and watches, so it is likely that they will offer discounted prices this year too. Just keep your eye out around Friday 29th November so you don’t miss the chance to save on potential future gifts. 

Opt for a Coloured Gemstone

A large sapphire diamond ring.

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Generally, coloured gemstones tend to be less expensive than colourless gemstones. This is because the price of gemstones depends on the rarity, colour, clarity and cut. When it comes to colourless gemstones such as diamonds, they are high value because of their rarity.

Meanwhile, according to Chroma Gems, coloured gemstones such as Amethyst, Peridot, Turquoise, and Opal, are typically less rare which makes them more affordable, but equally as beautiful.

It is worth noting that the price of coloured gemstones can also vary depending on the quality of the stone, so it’s worth doing some research before making your final decision. 

Shop Pre-Owned and Vintage

A variety of pre-loved silver and rose gold jewellery on a white background.

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When shopping for jewellery, don’t forget to check out secondhand shops and online platforms like eBay, Vinted, and Depop. Although you won’t be purchasing from brand new, you never know what you might find in local charity shops. 

You might find a few nicks or scratches, but you can easily make secondhand items feel brand new with a polishing cloth or soap and a toothbrush. That said, it’s always a good idea to find out how to clean your jewellery safely before doing so. 

Purchase Jewellery at The Best Time of The Year

A calendar page with the month March printed.

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According to Martin Busch Jewelers, jewellery prices are typically higher around seasonal periods such as Valentine’s Day and Christmas when the demand is high. Instead, as we recommend in our Best Time to Buy Calendar, they suggest shopping for jewellery during March and late May, as this is where you’ll tend to find the most affordable prices during the “slower times of the year”. 

Additionally, if you’ve missed the March period, worry not. Martin Busch Jewelers also suggests that “with no romantic or gift-giving holidays [...] July and August are often a slow time in the [jewellery] business and a perfect time to buy.”  

Reduce The Number of Karat in Gold Rings

A pair of simple, gold wedding rings.

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Like stones and metal, prices can vary when it comes to purchasing gold jewellery depending on the karat. When gold is used in jewellery, it can be either solid gold or a gold alloy - which means it has been mixed with other metals like copper or silver, to name a few. 

The karat (i.e. 24-karat gold) refers to the amount of gold in the item of jewellery. So, for instance, 24-karat gold is pure gold, while 22-karat gold is made up of 22 parts pure gold, and 2 parts of another metal. 

Thus, the higher the karat, the higher the price. So, when purchasing gold jewellery, it’s better to look for pieces with a lower karat which means you’ll be able to get the look and feel of gold, without the big expense.

Shop Lab-Grown Gems Instead of Diamonds

A close up of a woman holding a large diamond ring.

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Diamonds might be a girl’s best friend, but they’re certainly not your bank account’s best friend. Diamonds are rare gems that take billions of years to be formed in the earth, so naturally they come with a high price tag. 

If you’re looking for an alternative option where you’ll still get the look and feel of a diamond, without having to remortgage your house, then maybe lab-grown gems are the answer. 

According to The Diamond Guys, there are two main types of lab-grown diamonds:  

  1. Cultured Diamonds: These are “lab-grown diamonds that are identical to natural diamonds. They are made with carbon [and] as a result, their chemical, physical, and optical properties are the same as natural diamonds. To the naked eye, it’s impossible to tell the difference.”
  2. Simulant Diamonds: These are lab-grown diamonds which have “different chemical, physical, and optical properties to natural diamonds [but] have the same gemological properties [meaning] they are often referred to as imitation diamonds,” as they look the same. Examples include Cubic Zirconia and Moissanite. 

Lab-grown diamonds are not only better for your wallet, but they’re a more ethical and environmentally friendly alternative too. 

Consider More Affordable Metals

A silver diamond ring along with two rose gold rings, on a grey velvet stand.

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Like stones, some metals tend to be more expensive as a result of their rarity, durability, and finish. When it comes to metals such as gold and platinum, they tend to have a higher price point because they are rare and strong. 

In contrast, metals such as silver, copper, brass, nickel, and aluminium are typically more affordable as they are less rare. So, if you’re not after gold jewellery specifically, it’s worth looking into other types of metal jewellery made from more affordable materials which can be found on the likes of Etsy

What’s more, if you’re on the hunt for more unique or novelty jewellery items,  copper pieces are worth looking at which are sure to make the perfect gift, without meaning you have to spend a lot. 

Opt for Rose Gold Over Gold

A rose gold diamond ring on a cream, fabric background.

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Generally speaking, rose gold jewellery tends to be a more affordable option than gold jewellery. With its beautiful, warm, coppery shade, it’s certainly something that will be admired by many. 

Made from pure gold and copper, rose gold is differentiated by its stunning orange-pink tone, as opposed to the more yellow tone found in gold jewellery. That said, rose gold is still typically more expensive than other metals such as silver because the cost is determined by the amount of gold in the piece. Thus, the less amount of gold in rose gold jewellery, the lower the cost.

This makes it the perfect alternative if you or your special someone is after a similar look to gold, with a hint of copper, without having to fork out a large sum of money. Some retailers with rose gold jewellery options include Pandora, Swarovski, Abbot Lyon, The Jewel Hut, Beaverbrooks, and Etsy.  

Choose a Versatile Design

A close up of a woman sliding her simple silver wedding ring onto her finger.

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Sometimes it pays off to go safe when purchasing higher-ticket items, and it’s no different when it comes to jewellery. Whatever the occasion, if you’re buying for someone else, make sure you know what kind of jewellery they like - Pinterest boards come in handy here as well as having a peek in their jewellery box. 

What’s more, if you go for a more versatile design, they’ll be more likely to get more wear out of it, whether it’s a pair of earrings, a bracelet, or a new ring. 

Purchase From Small Independent Businesses

A close up of a person's hand wearing a unique, silver, statement ring.

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There is an abundance of perks when it comes to purchasing from smaller, independent businesses. Not only are you supporting a family business rather than a corporate company, but you’ll likely receive more personalised customer service, better quality items made with more care, and be able to shop unique designs. 

So, the next time you shop for jewellery, take a look at retailers like Etsy where you can shop an impressive range of smaller businesses, and make someone’s day.  

Protect your Jewellery From Wear and Tear

A close up of a jewellery cleaning a diamond ring with a microfibre cloth.

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It’s a well-known fact that protecting your jewellery will help it last longer, but if you don’t know the do’s and don’ts of maintaining jewellery, it’s definitely worth reading on to find out:  

Do:

  • Keep silver jewellery in an airtight container to prevent it from tarnishing. 
  • Use a polishing cloth to help your jewellery look as good as new. 
  • Reduce exposure to humidity. 
  • Store your jewellery in dark, dry locations.
  • Prevent contact with lotions, liquids, or aerosols. 

Don't:

  • Store your jewellery in direct sunlight.
  • Store your jewellery in humid rooms like the bathroom. 
  • Wear your jewellery in the shower. 
  • Wear items of jewellery that are more prone to tarnishing every day. 

Try Making Your Own Jewellery

A close up of a pair of hands crafting a silver necklace with a pair of pliers.

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If you’re up for a fun, affordable activity, whether you’re looking for an idea for a date night on a budget, or a girl’s day out, then try making your own jewellery. 

There are plenty of free, accessible resources when it comes to making jewellery, as well as video tutorials on online platforms such as YouTube, Instagram, and TikTok. Not only can this be an enjoyable new skill to learn, but in the long run it can be a more affordable option to buying jewellery. Making your own also means you can customise it exactly how you like to create an item that is truly as unique as you. 

Some great retailers to check out include Hobby Craft, which has an entire section dedicated to affordable supplies for jewellery making, as well as Shein, Temu, and Amazon.  

Use a Discount Code

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Whether you’ve got your eye on something a little out of your budget, or you fancy saving some extra money here and there, it’s always worth looking for a discount code before you purchase. 

At MyVoucherCodes, we have an offers page with over 250 live offers on jewellery and watches alone. From 20% off for key workers at Goldsmiths, 25% off for first-time customers at Abbott Lyon, and many more unique discount codes to help you save, it’s an offer that’s too good to miss.  

Opt for a Gift Card

A person holding a pink gift card in front of a pink background.

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If you’re unsure of what kind of jewellery to gift your special someone, it’s worth considering a gift card instead. You can find gift cards at most retailers, including Pandora, Swarovski, Abbott Lyon, Beaverbrooks, and more. 

When you opt for a gift card, you’ll be giving your recipient the gift of choice, for a fraction of the cost. What’s more, with most retailers you have the freedom to choose any amount, from as little as £10 to as much as £500, based on whatever works best for you and your budget. 

Layla Al-Ani
Home & Garden Writer

I’m Layla, the home and garden editor, and I started working at MyVoucherCodes in November 2022. I have always loved to write, especially after getting my degree in English Literature and Creative Writing, and since getting my own place, I’ve gotten stuck into all things home and garden.

When I’m not writing about saving money on homely purchases, I’m either sitting with my head in a new book, painting a piece of art for my walls, or binge-watching an interior design programme on Netflix. I love to get inspiration and transform my space, usually with the help of a few Pinterest boards and a couple of tins of paint.