How much to spend on an engagement ring

How much to spend on an engagement ring ?

Engagement Ring - man presenting ring

If you are planning to propose to your loved one and wondering what to do about the ring – and how much an engagement ring should cost – then here are some tips to help you buy the ideal sparkler for your girl – and without breaking the bank!  

Average Cost of Engagement Ring 

Most people have heard that the cost of buying an engagement ring should be one or two times your monthly salary.  However, bear in mind that this was only ever intended to be a guideline and was put forward by De Beers, the diamond company, as part of their marketing campaign. 

Times have changed somewhat since then. These days, with so much choice available, it is advisable to spend what you can afford, rather than put yourself into so much debt that your impending marriage comes under financial strain. 



Simply Princess Solitaire Princess Diamond 14K White Gold Ring


Simply Princess Solitaire Princess Diamond 14K White Gold Ring

Black diamond $1,045; this white diamond $2,445

Product 2
LABEL – TEXT DESCRIPTION
Price
Product 3
LABEL – TEXT DESCRIPTION
Price

 


Product 1
LABEL – TEXT DESCRIPTION
Price
Product 2
LABEL – TEXT DESCRIPTION
Price
Product 3
LABEL – TEXT DESCRIPTION
Price

 


Product 1
LABEL – TEXT DESCRIPTION
Price
Product 2
LABEL – TEXT DESCRIPTION
Price
Product 3
LABEL – TEXT DESCRIPTION
Price

 


Product 1
LABEL – TEXT DESCRIPTION
Price
Product 2
LABEL – TEXT DESCRIPTION
Price
Product 3
LABEL – TEXT DESCRIPTION
Price

 


 

 

 

This does not mean that you should aim for the cheapest engagement ring you can find.  Quite the opposite!  Your loved one deserves the best. The quality of her ring should be such that it will last through your many years together as a married couple. 

According to jewelry industry research, the average man pays from $3,000 – $5,000 for an engagement ring. Furthermore, approx 75% of rings purchased feature a diamond.  However, no problem if your budget can’t stretch that far. Why not choose a beautiful gemstone like a sapphire, a ruby or an emerald. These are far more traditional and you can find a gorgeous engagement ring at a much lesser cost than a diamond ….. and you can still WOW  your girl. 

The cost of your engagement ring will be governed by many factors such as the type of metal setting and the quality and size of the stone – whether it be a diamond, another gemstone. or a (so-called) semi-precious stone.  Jewelers such as Gemvara enable you to interactively change the metal and gemstones so that you can create your perfect ring at the price that suits you.  

 IMAGE

Average Size of Engagement Ring 

Industry research indicates that the average choice of carat size for a solitaire engagement ring is between 1/2 – 2 carats.   Subject to diamond quality and the metal setting, you can expect to pay upwards of $2,000 for a good quality diamond solitaire around 0.50 carat and upwards of $5,000 for a quality 1 carat diamond.  

Your girlfriend’s ring size is another consideration to think about.  If you don’t know her ring size then read our article “How to Find Out Your Girlfriend’s Ring Size for some helpful tips.  

Diamond Engagement Rings 

IMAGES

 

According to market research, 75% of men opt for a diamond solitaire when choosing an engagement ring.  However, although a diamond solitaire is a popular choice, there has been a noticeable trend in recent years towards engagement rings with more interesting settings.  For example: 

Halo rings with a centre diamond surrounded by a halo of smaller diamonds create added sparkle and make the center stone look bigger than it is – a good way to get more wow for your buck! 

Another ring style – and the favourite of many celebrities – is the studded diamond ring shank which also creates extra sparkle.  

Alternatively, take a tip from celebrities like Angelina Jolie and Jessica Simpson and opt for a ring with gorgeous diamond side stones.  

For more ideas, look at our feature on Celebrity Engagement Rings and make your girl feel like a celebrity too! 

Diamond Quality 

If you wish to buy a diamond then there are some guidelines to follow when deciding on price and quality.  You may have heard about checking out the “Four C’s” (ie the Carat, Cut, Clarity and Color) before buying a diamond.  But if not, our article, “How to Choose a Diamond Ring” will provide you with all the information you need to know.  

IMAGES

 

Diamond Color Chart 

Another recent trend in diamonds has been for colored diamonds (or fancy colored diamonds) – initially with celebrities such as Maria Carey and Beyonce – and now by other women, as alternatives to clear diamond engagement rings.  

Whereas the color grading of clear diamonds follows the CIA’s color grading scale fancy colored diamonds are graded for their Hue, Tone, Saturation and Distribution.  

Although natural colored diamonds are quite rare and expensive, many beautiful man made or specially treated ones can now be found in jewelry stores.  Laboratory made colored diamonds make excellent engagement rings, since they are structurally the same as natural diamonds but can be less expensive.  

Some of the most popular fancy diamond colors are: blue, black, champagne, chocolate, pink and yellow.  Styles complemented with sparkling clear diamonds make for stunning engagement rings and are excellent choices for women who want something just a little bit different, so that their engagement ring becomes the envy of their friends.   

IMAGE _ COLOR CHart

Gemstone Engagement Rings

IMAGES

 

Another way to get the most for your money is to buy a gemstone engagement ring.  The Kate Middleton Ring (previously belonging to the late Princess Diana) has become an iconic engagement ring that has been much admired and replicated throughout the world.  As a result, sapphire engagement rings have become the gemstone of choice for many women.  

As with the Kate Middleton Ring, gemstones such as the blue sapphire, look particularly stunning when surrounded by a halo of diamonds, diamond side stones or a diamond studded ring shank. 

Other popular gemstone engagement rings are: ruby, emerald, aquamarine, white sapphire and pearl.  Choosing a ring with your loved one’s birthstone – or one combining your birthstone colors with hers – is a wonderful way to make your proposal even more romantic and special.   

Research for Success

IMAGE

 

 

Of course, one of the most important things to do when buying an engagement ring is to understand the style of jewelry and gemstone preferences that your girlfriend prefers.  Does she prefer silver metals like white gold or platinum? Does she wear mostly yellow gold or will she prefer the latest trend for rose gold?  

If you’ve not taken too much notice of your girlfriend’s jewelry before, then now is the time if you want to get your choice of engagement ring right.  Check out whether she is wearing modern styles or traditional and the colors she prefers.  However, if you really haven’t a clue then take some advice from one of her close girlfriends that you can trust with your secret.  Doing some research beforehand is as important as deciding on how much to spend on an engagement ring.

Online Jewelry Stores

IMAGE

 

 

 Buying an engagement ring has never been easier to do in the comfort of your own home.  Compared with most local jewelry shops, many established online jewelry stores have an extensive selection of ring styles for you to browse and choose.  

However, it is important to buy from reputable online stores – particularly if you are planning to buy a diamond – and ensure that your ring will come with a Diamond Grading Certificate from one of the recognized jewelry industry accreditation boards, such as the GIA, AGS, EGL or IGI.  Some of our favourite online stores that provide certification include Gemvara and Zoara, who produce beautiful engagement rings.  

Even more helpful and exciting, Gemvara, also allows you to have fun creating your own personalized ring by changing the metals and gemstones to suit your girlfriend’s preferences and the price you can afford.  

Here is a selection of some of our favourite diamond and gemstone engagement rings: 

IMAGES

 

 

 

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *