Diamond Promotions, Discounts and Promo Codes 2023

Last updated on April 24, 2023

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Waiting for the sales is an almost daily part of life in times where money is tight and there are so many things we need or want. We get used to the concept of things constantly updating and the older stuff being sold off cheaply to make way for the new.

In this article we are going to look at sales and special offers on diamonds. Are they legitimate, how often do they happen and how much if anything can you save? We will look to answer all of these questions and more as well as perhaps steer you towards some good deals.

Do Diamonds Go on Sale?

Prepare yourself to peak behind the curtain of the diamond industry slightly as you may be about to learn something you may not want to know. So you probably think diamonds are super rare, correct? Actually no they are not that rare. In fact, there is still a huge amount of raw diamonds sitting in mines around the world.

The truth is the diamond industry is so well controlled that when supply for diamonds dwindles they cut production to make it seem like this gemstone is rare. When diamonds become more sought after they increase production. Essentially this process of controlling production based on demand keeps the value of diamonds pretty much static.

Why is this all important? Well simply put diamond prices do not fluctuate by much and because they are a commodity that does not suffer from going out of fashion. Consequently, there are seldom special offers on diamonds.

What then are we saying? Well basically because the diamond market is so heavily controlled you will rarely see high-quality diamonds discounted or find promo codes to get a better deal. Dealers can often afford to sit on inventory until it sells because decades of clever ad campaigns have made diamonds a highly sought after item.

Warning: If you see heavily discounted supposedly high-quality diamonds be cautious. Never buy a diamond unless it has a grading report from one of the main gemology labs to back up its value. If they are being sold below value there may be something suspicious going on so you should walk away.

Promotions and Special Offers

As mentioned diamonds are seldom discounted but this does not mean you can not find special offers on your purchases related to diamonds such as ring settings. In this section we will look at some of the deals available as of April 2023:

James Allen

• Signing up for the James Allen emailing list will get $100 of your first purchase with the company
• Free engraving is available on all purchases
• A 100% credit is available toward the purchase price of an engagement ring purchased from James Allen if it is used in part exchange for another engagement ring that is at least twice the value of the first
• Referring a friend to James Allen who makes a qualifying purchase will get you either $150 off your next purchase, a $50 Amazon gift card or a charity donation option
• Free lab-created cluster earrings on purchases over $1000

Blue Nile Promotions

• $50 off of your first purchase over $1000 when you sign up with your email
• 15% Discount for military, healthcare, first responders and educators “ As a thank you for your service, we offer an exclusive discount of 15% off regularly priced jewelry to verified military members, medical professionals, first responders, government employees, nurses and teachers in the United States.”
• 15% Discount for enrolled students “Blue Nile offers discounts to enrolled United States college, graduate, and trade students verified through UNiDAYS.”

Brilliant Earth Promotions

• Free pair of lab-created diamond stud earrings worth $225 with a purchase over $1000
• Verified students receive a pair of silver stud earrings with purchases over $250
• Military, medical, first responders and education professionals receive a pair of silver stud earrings with purchases over $250
• Mothers Day Sale: “This Mother’s Day, we’re celebrating moms everywhere by gifting exclusive jewelry that accompanies your purchase and amplifies its value. As each piece of Brilliant Earth jewelry is priced fairly year-round, we opt to include extra gifts for the holiday rather than a sale or deal that simply minimizes price. Unlike short-term sales and deals, our gifts make the most of your purchase with the addition of a complementary and sparkling souvenir made to be gifted on Mother's Day and cherished every day thereafter.”

WhiteFlash

• A credit of $100 on your first purchase over $2000 when you register with your email address
• 3% discount on prices if paying for large purchases via wire transfer
• $100 credit for customer referrals that result in a sale
• Customer loyalty program
• Ritani
• Use promocode TAXFREE2023 to save on taxes for purchases up to $10,000 (loose diamonds either natural or lab grown are excluded from this)
• Friend referral program

How Often Do Diamonds Go on Sale?

You likely noticed that the above sales and promotions were mostly not related to diamonds specifically. This is because as we mentioned diamonds seldom go on sale. There is no real reason to do so, no legitimate jeweler would ever sell a diamond for below its actual worth.

Any deals will generally come by purchasing the diamond as part of a piece of jewelry for which the setting may be discounted. Loose diamonds have a set value and of course the company's own mark up for their profits.

Diamond dealers use the Rappaport price list which is a daily pricing guide to set the prices of their diamonds. To stay competitive they will try to charge enough to make profit but not too much as to turn people away.

There are some diamond dealers who can sell for more because of their brand name such as Tiffany or Cartier. Their name recognition and the prestige that is associated with owning something from their inventory allows them to charge often well above actual value.

If you see diamonds discounted by anything more than 15% chances are they are poor quality pieces and were not actually worth the original price in the first place. Most large discounts will be on the settings which can go out of style.

How Often Do Sales Happen?

There are certain times of the year to look for discounts and sales from companies like James Allen, Blue Nile and other diamond sellers. Again the discounts won't really cover loose diamonds but they may decrease the cost on jewelry with diamonds set into them.

Black Friday/Cyber Monday sales will inevitably happen at pretty much all stores across the world including online. You will also see sales pop up around Valentine's day, Mother's Day, and sometimes Sweetest Day.

As a great piece of advice I would suggest you sign up for newsletters from the jewelers you favor as they will often announce sales and promotions through these email blasts.

Final Thoughts

If you see a heavily discounted loose diamond our advice is to run, not walk away in the opposite direction. Diamonds are stable in terms of price and no honorable diamond seller would take a loss on something as valuable as a diamond.

Your discounts are going to come from things like settings and being part of loyalty programs. It should also be noted that many special offers come with terms and conditions so a 15% off offer for the military may not apply to buying an expensive loose diamond. Always read the rules of such deals to ensure you qualify for the discount.

Reference Diamond Size Chart

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