It is Official: Millennials Prefer Alternatives to Diamonds for Engagement Rings

We have seen this trend emerging for a while. Yet CNBC now makes it official. Millennials are not looking for diamonds when buying engagement or wedding rings. Rather than going with the old conventions and customs, they choose jewelry that appeals to them on a personal level. In fact, these buyers frequently pass over diamonds for colorful gems.

Why Diamonds Do Not Spell “Forever” for Millennials

To borrow a phrase coined by De Beers, “a diamond is forever,” younger jewelry buyers no longer shop based on ads, and the "forever" term is just one example. Moreover, they like the idea of bucking a trend and being different from the generation that bought engagement rings before. Standing out and starting their traditions is now a major factor in the way these consumers relate to the gemstone trade – much to the chagrin of diamond marketers.

Meeting Somewhere in the Middle

Our experience has shown that this demographic does have some affinity for the diamond left, but it looks for the unusual pieces. Colorful diamonds, for example, are in favor. Case in point would be this yellow diamond engagement ring with a white diamond pave. Set in platinum, it features a rare 1.07cts dark orange to yellow diamond. Along the setting, you notice a pave consisting of 30 round full-cut diamonds weighing a combined .25cts.

Another example is this brown diamond in a platinum setting with white diamonds. This ring is an Art Deco piece that features an antique cushion-cut brown diamond weighing in at 1.37cts. Adding a bit of sparkle to the mix are six single-cut, white diamonds with a combined weight of .10cts. We sell this piece, as well as others, in our store under the term “fancy diamond rings.”

At times, it is the rarity of a piece that appeals to the millennial shopper. Since this group waits to say “I do” until later in life, brides and grooms have formed a good understanding (and appreciation) of the rarity that some stones bring to the table. Take for example this gray diamond set in platinum. The center stone could be hundreds of years old, based on the faceting alone. We know from the prior owner that the setting stems from the 1930s. The gray diamond weighs 8.31cts. Four baguette-cut diamonds augment its good looks. They weigh a collective .40cts. When you look at the center stone under the right lighting conditions, you notice the letter “X” or a cross. This rarity appeals to a millennial more than an off-the-shelf diamond ring.

At Peter Suchy Jewelers we are experts in all types of vintage, estate and antique jewelry. We hope you’ll stop by our showroom located at 1137 High Ridge Road in Stamford Connecticut.

Or, hop on over to our top-rated BigCommerce Store where you’ll find all the vintage engagement rings you see here. If you find a listing has ended, please email us at info@petersuchyjewelers.com as we may still have the item in stock.

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