Everyone has their distinct taste when it comes to fashion. Our tastes in clothing, footwear, and accessories can be wildly dissimilar to those of others. As expected, the selection of engagement rings is vast and varied.
In more ways than one, an engagement ring is a once-in-a-lifetime investment. An engagement ring is more than just a symbol of love and devotion at Brilliant Earth; it's also a financial commitment.
It would be best if you didn't let the price of an engagement ring stop you from proposing. In fact, "affordable" can mean different things to different people. Although everyone has a different financial plan, here's how to maximise yours.
Don't stress if you find yourself smitten with a red carpet stunner but can't bring yourself to take out a second mortgage to afford it. We'll help you out by giving you some exclusive tips and tactics. You don't have to go into debt to buy us the ring of our dreams.
An adage states that the ring should cost the equivalent of three months' pay. Spending a quarter of a year's pay on an engagement ring is no longer customary. The amount you spend is entirely up to you and how much money you are willing to part with. There are ways to cut costs on your engagement ring without sacrificing style if you're concerned about cost, as it is for most people.
Since everyone's financial situation and sense of personal style are unique, there is no longer any consensus on how much someone should spend on an engagement ring. So, how does one choose the ideal ring for themselves or their loved one?
In other words, the previous regulation was simple and straightforward. However, there are no longer any guidelines, so finding the perfect ring may take a little longer than expected. And if you put in the extra time and effort, you can find the ring of your dreams at the price you've been hoping to pay.
Why Are Diamonds The Perfect Stone For Engagement Rings?
A genuine diamond is the most dazzling gem of them all. Each stone sparkles like the sun when cut and polished, making them perfect for eye-catching jewellery designs. In contrast, diamonds' one-of-a-kind nature makes them such a potent symbol of commitment. True gems are one of a kind. This classic "present from nature" is as beautiful as it is unique, making it an ideal sign of long-term devotion. Although diamonds are traditionally used for engagement rings, other gems have also been used.
In the past, diamonds weren't always the standard engagement ring. Once Archduke Maximillian of Austria commissioned the first diamond engagement ring for his fiancee Mary of Burgundy in 1477, the trend took off. There was an explosion in the availability of diamond engagement rings just before the turn of the century. Not until the 1930s did diamonds, long known and appreciated for their perpetual glitter, become the prefered stone for engagement rings.
Around the same time, the "one month's pay" requirement for buying an engagement ring emerged, then became "two months' salary," and is currently commonly understood to be "three months' salary."
Average Engagement Ring Costs
The typical cost of an engagement ring in Australia is hard to nail. The average price was roughly $5,134, according to a poll of more than 3,000 couples conducted by Easy Weddings.
Some specialists have deemed this estimate too low, while others find it too high. Despite this, three months' wage for the typical Australian is around $15,500, showing that fewer people are adhering to the three-month guideline.
And yet, the desire to buy a pricey ring to demonstrate one's devotion remains a popular motivation. It is common knowledge that George Clooney ponied up $600,000 for an engagement ring for Amal. Kim Kardashian's ring, which Kanye gave her, was estimated to cost $9.9 million, while Heidi Klum's canary yellow diamond ring was purchased for $150,000.
Finding a ring that symbolises your love and the special bond you have with your significant other is more essential than the price tag on an engagement diamond. No matter how tight your budget is, you may rest assured that the right ring is out there waiting for you and your future spouse. And if it ends up being a little more than that, our layaway plan and 0% interest financing plan will come in handy. If you use our advice, you should be able to locate the perfect ring.
Guide For Buying Diamond Engagement Rings
The following are the most significant aspects for you and your partner to take into consideration:
- taste (especially the taste of the wearer),
- your financial circumstances, and
- the objective quality of the jewellery.
While each diamond is one of a kind, they all have specific characteristics that may be compared and contrasted by looking at their cut, clarity, colour, and carat weight. These are the "four Cs" used to grade diamond quality.
A diamond with a larger carat weight will cost more than one with a lower carat weight if the two diamonds are of equal quality in every other way. Diamonds with a smaller carat weight with a rare or attractive colour, such as Argyle pink diamonds, will sell for more than those with more considerable carat weight.
When it comes to determining the value of a diamond, clarity has the least of an effect. Even if a stone has many imperfections, like an inclusion, it will still look lovely and brilliant to the untrained eye. The price of a stone is more likely to be affected by its cut and colour than by any other factor.
Diamonds with no colouration on them are the purest. As a result, they are more wallet-friendly than uncommon, eye-catching diamonds like the Argyle pink diamond due to the absence of the same imperfections.
The superb cut is the most expensive option available. Expert craftsmanship is required for this cut, which results in a more brilliant and eye-catching stone due to the increased number of facets that capture light. Because of this, engagement rings typically have brilliant-cut diamonds.
Diamonds with an oval or emerald shape are typically the most cost-effective since less of the stone is lost during the cutting process.
The final price of an engagement ring is determined by some factors, including the ring metal and diamond setting and style. Rings made of platinum and palladium are the most expensive, while those made of silver are typically the cheapest. Similarly, the price of a setting that can accommodate more than one stone will be higher than that of a solitaire setting.
It's essential to think about the other colours of metal you wear when deciding which metal to use for the ring. You may have trouble accessorising your yellow gold wedding band with a white gold engagement ring. Consider your current collection before settling on a ring style to make future jewellery coordination a breeze.
You've got all the information you need to discover the perfect ring now that you know what factors appraisers use when setting a price.
FAQs About Engagement Ring
Round-shaped diamond. This has and will continue to be the most popular choice for diamond shapes in engagement rings. Round diamonds represent roughly 75% of all diamonds that are sold worldwide.
A round diamond is cut in a way that amplifies the brightness and sparkle of the diamond the most. The most popular diamond shapes for this setting are the brilliant round and princess cut. It’s possible to personalise this setting with coloured side stones, such as sapphires, rubies, emeralds, or other birthstones.
How To Find An Affordable Engagement Ring
An attractive ring can be selected without compromising on quality or cost. We hope that the information presented here will be helpful to you as you search for an affordable engagement ring. By selecting one of these alternatives, you can put your savings towards the next phase of your life together.
The engagement jewellery you purchase is the beginning of the many costs associated with your wedding. And if you're getting married soon, it's natural to be more careful with your spending.
Feel free to relax, knowing you do not need to spend a fortune to purchase an attractive ring. Read our advice to make sure you don't go overboard while looking for an engagement ring.
Research.
Knowing how much an engagement ring typically costs can be challenging to decide how much you should spend. Do some investigating before deciding on a budget. Do you feel safe inquiring as to the spending habits of your friends? Find local jewellers and check out their prices if you want a personalised ring manufactured. A jeweller can email you a list of their diamond pricing to give you an idea.
Set A budget
This is a crucial section; if you're worried about going over budget, take the time to plan. Please put it in writing and explain why you arrived at this number.
If you're going shopping, you should think about your finances first. Despite what you may have heard, there is no hard and fast rule about how much you should spend on an engagement ring. The degree of the expenditure comfortable for you is unique; do not expect others to conform to your preferences. Before you begin your search, it is crucial to have a firm grasp on the budgetary constraints imposed by this acquisition and the personal preferences dictating those constraints.
Compare Apples With Apples.
Be sure you are comparing "apples with apples" when shopping for engagement rings online. If the price of a diamond or engagement ring seems too good to be true, it probably is. Diamond prices are based on some factors beyond the four Cs (cut, colour, clarity, and carat) that are listed on diamond certifications. Diamonds lose their value for the most basic reason that they look different when exposed to various conditions. You get what you pay for is a true adage that should be kept in mind.
Reveal Your Budget
When first shopping for jewellery, it is up to you if you want to let the jewellers in on your budget. However, keep in mind that simply providing a ballpark amount. And guide you to choose stunning diamonds or jewels that won't break the bank.
Avoid Temptation
Don't give in if someone tries to sell you a stone that's just a little bit bigger or more expensive. It's difficult to say no to the glittering allure of a diamond.
Look At Alternatives
If a large diamond is beyond your price range, but a large centre stone is essential, you may want to look into other options. The most vital tip is to have fun while looking for an engagement ring. You can alleviate some pressure by establishing a spending limit; keep in mind that a lovely ring can be had on any budget.
Choose A Diamond Wisely
Find a reputable jeweller with a wide selection of diamonds and pieces that fit various budgets and tastes.
Opt For A Lab Created Diamond
Physically, chemically, and optically, laboratory-grown diamonds are identical to diamonds extracted from the earth. However, lab-grown diamonds should not be confused with diamond simulants such as cubic zirconia. However, the price is still lower than that of a mined diamond of the same size and grade. They're an excellent choice for an engagement ring if you're on a budget.
Consider All Precious Metals
Although platinum is often used for engagement ring settings due to its durability and attractive sheen, there are other metals that can be just as suitable. White gold, yellow gold, or the increasingly popular rose gold are all beautiful alternatives to platinum that won't break the bank. White gold settings are a more affordable alternative to platinum if you want the same gleaming white colour but aren't willing to spend as much on the precious metal.
Step Up The Setting
Choosing a more intricate setting for your engagement ring is a definite method to make it more eye-catching without breaking the bank. Given that the price of a diamond rises exponentially with its size, lesser diamonds used as accents are far more reasonably priced. If you want a show-stopping ring without breaking the bank on a massive centre stone, consider a setting with diamond embellishments (many brides-to-be are more interested in a sparkling ring setting than the size of the centre gem).
A halo engagement ring is a great choice; it has a larger-looking centre stone ringed by smaller accent diamonds. An engagement ring of rose gold featuring a halo design is lovely and practical. Even if the centre diamond is small and the total price of the ring is low, it is possible to get an expensive appearance by adding elaborate features like hand engraving, filigree, or milgrain.
Select A Sapphire For The Centre Stone
Because of its vivacity and individuality, you can't go wrong with a sapphire as the centrepiece of your engagement ring. Consider a sapphire instead of a diamond if you're on a tight budget but still want a show-stopping centrepiece gem. Although sapphire engagement rings in vivid blue hues are a popular choice, it's important to remember that these stones also exist in stunning yellow, white, and pink tones. You can't go wrong with a pale yellow or pink sapphire as the centrepiece of your engagement ring if you're going for a delicate colour scheme. Sapphires look incredibly gorgeous when set with a tiny diamond for accent.
Consider A Ring Without A Centre Stone
Numerous would-be brides prefer non-standard engagement rings, which often lack a centralised gemstone. There has been a rise in the popularity of these stunning diamond bands as an alternative to the traditional diamond engagement ring. Because they do not have a larger centre gemstone, these rings are more reasonably priced without sacrificing quality; they still have exquisite detailing and the beautiful sparkle of diamonds. It's a popular choice among those who want to stand out or maintain a uniform appearance while maintaining an active lifestyle.
The Custom Ring Solution
By understanding the role of the four Cs in the appraisal process, you can modify various features of your search for the ideal ring without breaking the bank.
In this way, if the size of your dream diamond is more important to you than its precise shape, you can get a more substantial oval-shaped diamond. If silver is your style, you'll have more money to splurge on the gem of your dreams.
Perhaps a huge, glittering diamond set in gold has always been your ultimate bauble choice in your fantasies. A high-end piece like this becomes more affordable when you stick to fewer settings and go for a more see-through diamond. This might help you achieve a sleek, understated design that draws attention to the centre stone of your engagement ring.
Conclusion
When purchasing a piece of fine jewellery, it is imperative that you find a jeweller who has a solid reputation and can be relied upon, regardless of the size of your budget.