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What Should an Engagement Ring Cost?.

Updated: Sep 11, 2023

Engagement rings are a symbol of love and commitment, and they can be a significant financial investment. But how much should you spend on an engagement ring? There is no one-size-fits-all answer to this question, as the cost of an engagement ring will vary depending on a number of factors. However, there are a few things you can keep in mind when determining how much you want to spend on an engagement ring.

Wedding Rings
Yellow Sapphire Engagement Ring

What are you comfortable spending?

This is the most important question to ask yourself. How much money do you feel comfortable with to spend on an engagement ring? It's important to be realistic about your budget, make it a personal sacrifice but not put you in un-manageable debt.

What are you willing to sacrifice?

Are you willing to sacrifice the size of the gemstone, the quality of the cut, or the clarity of the gemstone in order to save money? It's important to decide what's most important to you and be willing to make some compromises. For example, if you're willing to sacrifice the size of the gemstone, you may be able to find a ring that is within your budget.

What are you wanting to achieve?

What do you hope to achieve with your engagement ring? Do you want a ring that is flashy and expensive, or do you want a ring that is more simple and understated? It's important to think about what's most important to you and let that guide your decision-making process. For example, if you want a ring that is meaningful, sentimental or deeply symbolic, you may be willing to spend more money on it.

The big determining factors:

Diamonds : The four Cs of diamonds are cut, clarity, color, and carat weight. These factors will all affect the price of the diamond. Cut refers to the way the diamond is shaped and polished. Clarity refers to the number and size of imperfections in the diamond. Color refers to the natural hue of the diamond. Carat weight refers to the weight of the diamond in carats.

Coloured Gemstones: Colour plays the biggest role followed equally by clarity, carat weight and cut. These factors will all affect the price of a gemstone the most. Gemstones with vivid colour are already rare, combine this with good clarity and large size and they become super rare, which also makes them more valuable.

When it comes to considering your budget, it is important to get personal advice and design a bespoke ring to get the best value and quality. Most retail jewelers are trying to sell what they have in stock at the time, and entice you with "false discounts". The jewellery is also usually mass-produced in factory somewhere. This means that you are not usually getting a unique and high quality ring, and you may be paying more than you need to.

Round diamond engagement ring
Ultimately a ring will cost what you want it to.

When you work with a jeweler who specialises in bespoke rings, you will get the personal attention and advice you need to choose the perfect ring for your partner that fits your budget best and maximizes value. The jeweller will work with you to understand your budget, your partner's style, and your unique needs. One that is well qualified with diamonds and gemstones will also be able to source the best quality gemstones and diamonds for your ring.

Ultimately, the decision of how much to spend on an engagement ring is up to you. There is no right or wrong answer. The most important thing is to choose a ring that you love and that is within your budget.

If you're still not sure how much to spend on an engagement ring, I'm happy to help you. Just contact me or book an appointment in Harrogate or London and I can advise you based on your individual circumstances.

For all your fine gemstone and diamond needs in Harrogate, the UK or worldwide.

Clayton Delville Hood

Clayton is a GIA Graduate Gemologist, Diamond and Coloured stone grader and dealer with over 20 years experience in the Diamond, Gemstone and Jewellery business. More...

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