Diamonds are a girl’s best friend, but what is the price of that friendship? The question of how much he should spend on an engagement ring is a make or break issue for many ladies. Now if you’re trying to drop a few hints in the right direction and get yourself a dream ring, there are a few things to consider!
Your partner’s financial situation
When he decides to pop the question, there so many emotions are running through his mind. The burden of debt when getting engaged is only the starting point… you have a wedding to plan after all!
Social Media has skewed our perception to believe that size = price. This is definitely not the case. The idea of spending three months salary is a good starting point, but remember, rules are made to be broken. Think about what you actually want instead, because that matters more than how many likes you’ll get on a picture!
The sales pitch many jewelers use is the “highest quality diamond is an investment.” It might not be like real estate or stocks, but we agree. This is an emotional investment, so do your research. Consider the price of other similar engagement rings. Different rings will cost different amounts. For example, Canary or pink diamonds will be more expensive than a black diamond. By doing this, you’ll get a more accurate idea of what the price is likely to be.
If you’ve got an expensive taste but he doesn’t have the budget, consider smaller diamonds in a cluster. This will provide the perfect distraction from that big rock focus. Another option might be using your birth stone.
The style you’re lusting after
Your ring is a symbol of the love you share with your partner and it’s something to wear all day, every day, forever. So the best thing to guide your ring choice is your style. Find something that works for you now, but also consider this ring needs to suit you in 20 years time too.
Trends come and go with wedding rings, but we suggest choosing something that is classic in cut. Make sure it’s not too obtrusive so it doesn’t overwhelm your style. Remember, a diamond isn’t the only engagement ring option. You could opt for your birth stone as an alternative.
Look at your friends and their ring choices. You’re friends for a reason after all and there’s a good chance the items they like are ones you will too. Being able to direct your partner to a style that suits you will save him stress and even money too!
Consider alternatives as well. Your mother might have a perfect heirloom or his grandmother could. An antique store could also provide you with the perfect unique piece.
The value you place on price
After surveying Australian jewelers as well as our brides, we can say that $5,000 is an average price. But what makes a ring that expensive?
There are two major factors that contribute to the cost of a diamond. The first is a ratings system called the “Four Cs” and the second is ASG/GIA certification.
The Four Cs refers to the diamond’s colour, cut, clarity, and carat size. As a general rule, as a diamond increases in size and clarity, and decreases in colour, the price of the diamond rises. Also, diamonds that are ASG/GIA certified are also more expensive.
Most jewellery stores follow this pricing structure:
- Quarter carat or less diamond will set your partner back anywhere from $125 to $500
- .3 to half carat diamond is between $750 to $1,000, sometimes more if the diamond is ASG/GIA certified
- For diamonds up to .75 carat, ASG/GIA certified stones will vary from $1,000 to $2,000
- For diamonds up to 1 carat, you will be looking at somewhere between $2,000 to $3,500.
- High quality 1 carat diamonds will be $4,000 or more
These prices also include setting the diamond, either in gold or platinum.
Find a cut you like and then your partner can shop around for the size/colour/clarity depending on his budget. Another tip is to buy your wedding bands at the same time as the engagement ring. This often means the two rings will fit together and could also save your partner a little extra money.
For your partner, it’s important that he sets a budget and sticks with it. He loves you, it’s not worth bankrupting him to prove it!
Diamond wholesalers are a great way to find the real price of the diamond itself, cause that’s the important part). If you can think outside the square (or in this case the princess cut diamond) this might be a perfect way to get involved yourself. Your partner can find the diamond and together, you can create a ring that is a perfect match for you.
We’ve discovered that 40% of grooms propose without a ring, so if you decide on this route, you’re definitely not alone. We know for some brides to be, this is the perfect solution and for others, it’s the start of a nightmare. It all depends on you and your partner.
No matter how it happens, once there’s been a proposal, you’re engaged. It doesn’t matter if there’s no ring, a fake ring or the diamond of your dreams, congratulations! Now, have you thought about your dress?