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Budget Guide - How much should you spend on an engagement ring
- UPDATED:
Average cost, engagement costs myths and mostly... how to cut engagement ring costs!
Engagement rings tend to be expensive and choosing one can be a daunting task. Deciding on the budget is one of the first crucial things to undertake before choosing a ring. This article will answer the most common questions surrounding the budget topic!
What does the price of a diamond ring consist of?
The price for an engagement ring includes:
- The setting (also called "shank")
- The diamond
- The manufacturing
The price of a setting varies depending on:
- The Material (e.g. 14k gold, 18k gold)
- The complexity of the design and the number of smaller stones set into the ring
The price of a diamond depends on the famous 4Cs:
What is the average spent for an engagement ring in Germany?
Our customers are primarily based in Europe - mostly in Germany, spend an average of € 2,500 and choose a 0.50 to 0.80 ct diamond.
NOTE: We do not believe a fixed price to be the right metric. Most men who want to get engaged are just beginning their careers and may have debts, future projects, etc. Do not fear if you spend less or if the diamond you choose has a smaller carat weight.
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What matters more than the price?
When looking at an engagement ring it is actually very difficult to know how much it may have cost - and that is because diamonds of the same size can have a drastic price difference depending on their quality.
What matters first and foremost is:
- the emotional value: the engagement ring is the most beautiful and romantic proof of love you can give her. After all, through that ring, you are telling her that you want to spend the rest of your life with her.
- the ring´s style: a ring could be extremely expensive and yet not fit your partner´s taste. Our advice is to choose a ring that fits her style and personality!
MORE: Start our Ring Style Quiz - find suggested models in only 7 questions!
How to cut engagement ring costs?
- Buy your engagement ring online: engagement rings online are up to 40% cheaper than in physical stores, for the exact same quality.
MORE: A comparison - buying an engagement ring online vs offline
- Configure your own engagement ring: configuring your ring not only makes it way more personal but also allows you to choose your own diamond. By doing so, you can play with the stone´s quality and select a diamond that meets all your requirements in terms of quality AND price.
LEARN: How to configure your own engagement ring - 3 steps to your perfect ring
LEARN: All the diamond buying guides you need to find your perfect diamond
- Choose a fancy shape diamond instead of a round one: round diamonds are the most expensive ones because of their high popularity.
MORE: Diamond shapes and pricing - most expensive vs cheapest diamond shape
MORE: 9 Expert tips for how to save money on an engagement ring