Tempe, AZ -- (SBWIRE) -- 12/01/2011 -- On November 15, 2011, the world’s largest yellow diamond fetched approximately 6.89 million Euros or $10.9 million at a Geneva auction. The pear-shaped110.3 carat Sun-Drop Diamond, with the highest possible color grading, was discovered and sold by New York-based company Cora International and bought by a telephone bidder.

Unlike the fortunate bidder who purchased the infamous Sun-Drop Diamond, most people in the current economy are looking for ways to save money on their impending diamond ring purchases.

And according to CheapDiamondRingsOnline.com, although sometimes difficult to locate, it is possible for people searching for cheap diamond rings to find their ideal jewels at a price that will not break the bank. But it is important for people in the market for diamond rings at entry level prices to understand the different quality levels and reasons some diamond rings are more affordably priced than others before making a purchase.

Diamonds are by definition luxury items, and therefore priced as such. However, given the different quality levels available, finding cheap diamond rings priced for less than $1,000 or even as low as $500 is possible. But people may have to sacrifice one of the “Four C’s,” cut, color, clarity and carat, of the diamond in order to find a cost-effective diamond ring.

Sometimes even the smallest imperfection in one of these main qualities can equal a huge cost saving. And many times, these imperfections are only visible by experts examining the diamond ring under a magnifying glass.

But as the saying, “Caveat Emptor,” or “Let the Buyer Beware,” states, CheapDiamondRingsOnline.com says people should make sure they are purchasing a diamond ring based on research and avoiding those that seem too good to be true.

“Stay away from purchasing rings which are so cheap it’s almost unbelievable. In those cases, the rings might be stolen or not real diamonds,” states the site. “Some cheap diamond rings might actually be real but they can be blood diamonds, meaning that they come from illegal exploitations where people are treated like slaves by rebellious groups which then sell the diamonds at very low rates on the black market in order to fund the purchase of weapons. So think twice before buying any cheap diamond rings which seem too good to be true!”

People interested in purchasing diamond rings at an affordable price can find listings on CheapDiamondRingsOnline.com by selecting their budget, starting at $400 and going up to more than $1,000, and browsing the products from a variety of reputable resources.

In addition, people interested in the latest trend of diamond nails can find information about the most cost-effective ways of emulating the admired accessory made popular by Katy Perry and Serena Williams.

About CheapDiamondRingsOnline.com
CheapDiamondRingsOnline.com is aimed at helping people find cheap diamond rings without sacrificing their desired look. The site provides visitors with valuable information about the numerous ways in which to purchase cheap diamond rings and the important things people need to consider to ensure they are getting the best deal on their hidden gem. For more information, visit http://www.CheapDiamondRingsOnline.com