Future Grooms Seek Fake Diamonds to Save Cash

Posted in News by Admin on April 20th, 2009

Brides in New York appear to be among the victims of the recession, with retailers saying more grooms are buying cubic zirconia rings instead of diamonds. New York diamond district retailers said that an increasing number of would-be husbands are purchasing the fake diamonds for their brides’ engagement rings to save money during the economic downturn.

“There are people who will buy a setting and put a cubic zirconia in it for now, hoping to replace it later,” Shella Eckhouse, a private jeweler, said of the recent trend. Luxury jeweler Kara Ackerman said some of those grooms not purchasing cubic zirconia settings are instead turning to one-carat diamond rings instead of the more traditional and expensive two-carat rings. “The budget used to be $65,000. Now it’s closer to $10,000,” she said.

Ackerman added that not all brides appear to be happy with the cost-cutting measures of their potential spouses. “The women are little hostile about it,” Ackerman said. “They have been waiting a long time for a ring!”