How much should you spend on an engagement ring? A few methods to calculate reasonable engagement ring prices have been published, ranging from income to the price of your car. The true answer is this: Buy the highest quality engagement ring that is possible within your budget.
Factors That Impact Engagement Ring Prices
Types and Qualities of Precious Metals
- Platinum is the most expensive metal because of its rarity, weight, natural shine and durability. Platinum engagement rings are the upper echelon of bridal jewelry.
- 24K gold prices are comparable to platinum because this gold is the purest available. Pure gold jewelry is in very high demand, because it’s valuable and also uncommon.
- 18k and 22k gold jewelry is less expensive than 24k gold, but still relatively pricey.
- 14k gold and sterling silver are very affordable, and these metals still make for beautiful settings for engagement rings.
Varying Grades of Diamonds
Diamonds are usually the most expensive because the demand for diamonds is the highest. Within the diamond category, engagement ring prices really depend on the cut, clarity, color and carat or weight of the stone.
- Diamonds are graded for clarity by the Gemologist Institute of America. A perfect diamond has no flaws that interfere with its brilliance or ability to refract light. All else being equal for cut and color, the flawless stone, F-IF, will cost the most with the price declining as you go down the scale.
- The diamond rated VS1-VS2 has flaws that cannot be detected with the naked eye. S11-S12 probably cannot be detected. To detect flaws in 11-12-13 with the naked eye, you would need to know what you are looking for.
- Color- or lack of color- impacts the price. The color scale goes from bright white to degrees of yellow diamonds, and even to orange and brown. Some prefer the look of colorful diamonds, and others are drawn to them because they cost less.
If you have ever wondered why one diamond ring is priced at $500 and another seemingly identical one costs $5000, it’s a combination of the cut, clarity, color and carat!
Lower end of engagement ring prices
The average stone size for an engagement ring is just over one carat for the diamond. However, smaller gemstones within the range of clarity and color can be beautiful for engagement rings.
Here are some really good tips:
- Even on a tight budget, you’ll find an affordable, good quality ring by making some sacrifices.
- Choose 14k gold instead of platinum or 22k gold.
- Diamonds under 1k are significantly lower in price.
- Select nearly colorless instead of flawless diamonds.
- A superior cut from an excellent designer will make a diamond ring appear larger.
- Some brides prefer having a ruby, emerald, or sapphire at the center or their engagement ring. These gemstones may cost less than diamonds but they are beautiful in their own right, especially with white diamond details set in to contrast.
This 18k white gold three stone ring features an oval ruby with a round brilliant cut white diamond set on each side. Carat weight .30
Engagement Ring Prices by Designer
When Less is Less
Be forewarned that buying a cheap engagement ring is almost never a good idea. Even if the ring looks good to the naked eye, you would likely have buyer’s remorse sooner or later. The gold is probably gold plated. The ring’s flimsy prongs will become loose. The diamond itself may not be natural, and you can bet that it will be very low quality in any case. When your bride’s engagement ring setting starts to discolor and the diamond becomes dull, she is going to be disappointed. Worse yet, you won’t be covered for repairs, so when the diamond falls out due to poor design you will have to come out of pocket for a new ring.
Choose from the reputable established designer brands that are known for their high standards. You may need to buy a smaller diamond in a 14k gold setting instead of choosing a top of the line engagement ring. Still, this ring will have stunning brilliance, durability to last a lifetime, and natural diamonds that are responsibly sourced.
Both of these upper tier engagement ring designers offer high quality, conflict-free natural diamond engagement rings and some styles are priced below the national average price for engagement rings of $3500-$5000. Look for these two brands:
- Hearts On Fire diamonds are a top choice for the highest quality diamond engagement rings. Their consistently superior diamonds are perfectly cut from an extremely rare class of diamonds, so they will cost more than other brands. Hearts on Fire Designers have widely impressed customers with their unique designs, creating a strong demand even though the company is less than two decades into existence.
- Forevermark by DeBeers also creates valuable, fine diamonds in beautifully designed settings. Forevermark diamond engagement rings are usually less expensive than the Hearts on Fire rings. DeBeers, the parent company has been in the diamond business for 125 years. Their beautifully cut Fire & Ice diamond with extraordinary whiter-than white color and outstanding sparkle is an industry favorite.
Insist on Fair Engagement Ring Prices
Where you shop can make a big difference in the amount that you pay for an engagement ring. Bernie Robbins offers the highest quality engagement rings, like Hearts on Fire and Forevermark, at the best price that you can find for the same quality of engagement rings.
- Bernie Robbins owns all the jewelry available for sale in their stores, so they are motivated to move inventory. Prices are fair which appeals to a wide range of customers.
- They buy their jewelry direct from the 80 DeBeers site holders, thereby eliminating the middlemen brokers and dealers and avoiding the inevitable price markups.
- Your dollar goes further at Bernie Robbins because they pass their savings onto the customer without needing to sacrifice profits. It’s a win-win for everyone.
Bernie Robbins Will Assist You – on ANY budget
Make the most of your engagement ring budget with quality rings by reputable name brands. Luxury jewelry brands are very selective about choosing the best jewelry stores to showcase their jewelry. Hearts on Fire, Forevermark and other well-respected brands of designer engagement rings are available at Bernie Robbins Jewelry. No matter how little you have to spend, the down to earth employees at Bernie Robbins want to help you with the process of buying an engagement ring that she will absolutely love- without breaking the budget.