How Much Should You Spend On A Diamond Engagement Ring?

When you visualize a diamond engagement ring what comes to mind? For some it’s an 8mm 2 carat F VS1 Excellent Cut diamond set in a platinum setting, for some it’s a smaller diamond with a diamond halo in yellow gold, and for others it’s a lab grown gemstone in rose gold. All are heart-felt and equally romantic, the choice is all about the two of you, and your lifestyle.

So what does a round 2 carat F VS1 Excellent Cut diamond cost? In 2017 around 28,000.00. A one carat 6.4mm round ethical diamond of the same quality costs around 8,000, and a half carat (also of the same quality) 5mm round ethical diamond is around 2,000.00. What size diamond should you buy depends on your future brides expectations and your personal aesthetics. When my parents were engaged in the 1960’s a 0.30 carat was a common center stone, today a 1.0 carat is an average size center stone. A one carat diamond costs between 6000.00 for an H SI2, to 8,000.00 for an F VS1, both Very Good to Excellent Cuts. We make diamond engagement rings every day with center stones ranging from 0.40 to 2.0 carats, or 4mm to 8mm. That is a huge visual range in jewelry, and in the cost of the diamond!

How much should you spend on your diamond engagement ring? Decades ago De Beers set about on a marketing campaign suggesting you spend two month salary on your diamond engagement ring. That campaign is still remembered today and while the advice is subjective, kudos to a brilliant marketing success. As mentioned above diamond prices are all over the map, but what about the setting? Our gold engagement rings start at 895.00 for our elegant Grace to 3,300.00 for our amazing diamond baguette Natalia. The setting all depends on her personal style and the size of the center stone (a diamond halo can enhance the scale of a smaller center stone).

A diamond engagement ring is not a small purchase. Whatever your budget, this may be the most expensive single piece of jewelry you purchase in your lifetime. Prepare yourself for the purchase in advance by educating yourself to a diamond’s 4 C’s, looking at diamond prices using our Ethical Diamond Search Tool, and to mount prices by browsing our Ethical Engagement Rings. Armed with the knowledge of what an diamond engagement ring costs, you can plan for your purchase whether it’s 2000.00 or 20,000.00.

Payment options for your diamond engagement ring are; you can save, put it on your credit card or finance your purchase using PayPal Credit with 6 months to pay with no interest. If you plan to put your purchase on your credit card, call your bank in advance. Most banks will not approve an unusually high dollar purchase, like a diamond engagement ring, especially if your most common purchases are a few hundred dollars at a time.

A diamond engagement ring purchase can be an intimidating if you go into it without any preparation, or if you shop in an atmosphere that is skewed more towards the size of the sale than the client’s comfort and education. See what our client’s have to say about us on Yelp, or spend a little time browsing our Ethical Engagement Rings or our Ethical Diamond Collection.