Indianapolis Engagement Destination

About Master Jewelers

Since 1990, Master Jewelers has been dedicated to celebrating life’s most meaningful moments with exceptional craftsmanship and timeless design.

For over three decades, we have provided an extensive selection of loose diamonds, exquisite bridal jewelry, custom-designed pieces, expert jewelry restoration, and distinctive fashion jewelry. Every piece we offer reflects our commitment to quality, precision, and lasting beauty.

Whether you are selecting the perfect diamond, designing a one-of-a-kind engagement ring, restoring a treasured heirloom, or discovering a unique statement piece, our experienced team is here to guide you with care and expertise.

At Master Jewelers, we believe fine jewelry is more than an accessory — it is a symbol of love, legacy, and personal expression. We are honored to help you create and preserve pieces that will be cherished for generations.

Knowing More About Diamonds

At Master Jewelers, we believe that choosing the right diamond is about more than appearance alone. It is about understanding quality, origin, value, and what matters most to you. That is why we take time to guide our customers through the essentials of cut, color, clarity, and carat weight, while also explaining the important differences between natural and lab-grown diamonds.

Natural diamonds are formed deep within the earth over billions of years, making them rare, timeless, and deeply connected to tradition. Lab-grown diamonds are also real diamonds, created with advanced technology that gives them the same physical, chemical, and visual properties as natural diamonds. Both can be beautiful choices, and the best option often depends on your priorities, whether that is rarity, price, symbolism, or overall style.

Since 2020, the diamond market has changed significantly, and many customers are surprised to learn that pricing is not always as simple as they expect. While lab-grown diamonds are often positioned as the more budget-friendly option, retail pricing can vary widely depending on the stone, the setting, the design, and the piece as a whole. In some cases, the final price of a lab-grown diamond ring can feel closer to a natural diamond piece than many shoppers anticipate, which makes education and side-by-side guidance even more important.

At Master Jewelers, we are proud to offer honest guidance on both natural and lab-grown diamonds so you can make a confident and informed decision.

Under $500

Reviews

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Ryan Papandria profile picture
Ryan Papandria
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Extremely helpful throughout the entire process of buying an engagement ring. Very friendly staff and would recommend to anyone looking to buy jewelry!
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Jonathan Holden profile picture
Jonathan Holden
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Friendly staff helpful.
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Erin Todd profile picture
Erin Todd
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I walked into Master Jewelers as nervous as I could be… in my hand I had 2 VERY special rings. A solitaire from my grandmother and cluster set from her mom (my great grandmother). These 2 items were priceless. The moment I met Arlene I knew this was the place to trust with my treasures. She sat down with me and we designed a ring that used all the components of the 2 rings. She let me know up front it was a process and would likely take 6-8 weeks to complete. She sent me texts/videos of the process along the way. Yesterday my husband picked up the ring… I cried. It far exceeded my expectations. It is BEAUTIFUL. A big thank you to Arlene and Master Jewelers for making my family heirloom into a beautiful ring that I will pass along to my daughter someday.
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John Wartenberg profile picture
John Wartenberg
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Wonderful experience shopping for my wife’s Christmas gift. Mike and his crew did a wonderful job in finding the best gift. Tons of options to choose from, and the best advice about diamonds. It is always a pleasure going to Masters Jewelers.
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Jeff Hodson profile picture
Jeff Hodson
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Arlene helped us create the perfect wedding ring. We looked at multiple stores and Master Jewelers was the most creative and helpful. We were able to custom design exactly what we wanted. She even sent me video updates of the process.
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Laura Redman profile picture
Laura Redman
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I had the best experience working with Allison. We worked together re creating my engagement ring. She was so kind and helped me create the perfect design. I am absolutely in love with my ring, which we combined my ring with the diamonds from two other rings. So happy!

Get in Touch

Whether you’re searching for the perfect diamond, designing a custom piece, or restoring a treasured heirloom, our team is here to assist you with care and expertise.

Mother’s Day Special Celebrate Her with Color

Celebrate Mother’s Day with a meaningful gift she can wear and treasure. Enjoy 20% off in store on colored fashion jewelry, and custom orders are also available for a more personal touch.

Offer: 20% Off In Store
Custom Orders: Available
Limited Time

20% OFF

Save 20% in store on colored fashion jewelry for Mother’s Day, with custom order options available to help create something even more personal and memorable.


Deal expires 05/11/2026, the day after Mother’s Day.
Mother's Day jewelry promotion

Have a great Labor Day weekend!