Macy's offers its Macy's 1.3-Total Carat Weight 3-Stone Ring in 14k Gold in several styles (Sapphire pictured) for $480 with free shipping. That's $720 off and the lowest price we could find. It features .25-tcw of diamonds and comes in select sizes from 5 to 9.

Update: The price has increased to $600; however, coupon code "LOVE" "PRES" drops it to $480.