How Much Should An Engagement Ring Cost?
Sitting at my desk this morning, 2 espressos in, Season 2 of The Witcher on as background music (Can you believe they’re replacing Henry Cahill with Liam Hemsworth? Couldn’t they at least have gotten Chris??), I realized I needed new ideas for content. So I Googled “How much should an Engagement Ring cost?” and almost spit out espresso #3 when I saw what the retail jewelers were charging (Tiffany’s LOL). Below we’ll tackle 5 of the most common questions regarding Engagement Ring pricing.
Spoiler: Diamonds cost a lot less than you thought they did, at least from us ????????
#1. What is a good average price for an Engagement Ring?
AKA “What’s the most popular size/quality of an Engagement Ring and how much does that cost?”.
Let’s start with Lab Diamonds. The most popular kind of Lab Diamond for an Engagement Ring is an IGI Graded, 2.55 carat, “E” Color and “VS1” Clarity, perfectly-cut, Round Diamond. The one pictured here has all those specs but is 2.53 carats, and goes for $3,000.
For Natural Diamonds, the most popular Center Diamond for an Engagement Ring would be a GIA Graded, 1.20 carat, “I” Color and “VS2” Clarity, perfectly-cut, Round Diamond. The one pictured here is exactly that, and goes for $6,000.
For the Setting, our most popular model is the Classic Accented Engagement Ring in 14kt White Gold. After you join the Proposers Club, this setting is $1,035 with matching Lab Diamonds and $1,125 with matching Natural Diamonds.
So, an “average” Lab Diamond Engagement Ring costs around $4,000 and a “average” Natural Diamond Engagement Ring costs around $7,000 with us.
Check us out on Instagram to see what Rings we’re working on right now.
#2. How big of an Engagement Ring can I get for $10,000?
Well clearly you were not impressed with the averages above. How big of a Lab Diamond Engagement Ring can you get for $10,000?
Try this one on for size.
This is a 4.19 carat (you read that right), IGI Graded, “E” Color and “VS1” Clarity, perfectly-cut Round Diamond that costs $10,000 exactly.
How big of a Natural Diamond Engagement Ring can you get for $10,000? Here’s a 1.50 carat, GIA Graded, “I” Color and “VS2” Clarity, perfectly-cut Round Diamond. This one costs $9,900.
The 1.50 carat is still a beautiful Diamond, but there’s a massive difference in size from the Lab 4.19 carat to a Natural 1.20 carat. If you’re just starting your Engagement Ring search and not too familiar with Lab Diamonds, read all about them here. Same physical and chemical properties as Natural Diamonds, but the price tags are wayyyy different. Different like the last season of Game of Thrones versus literally any other one. Different like the Bulls after they drafted MJ. You get the idea.
#3. What is the value of a 1 carat Diamond?
How much should an Engagement Ring cost with a 1.00 carat Diamond? Let’s use the qualities outlined in our 10 Step Perfect Diamond Guide for both Lab and Naturals.
If you want a 25 minute course on how to buy a diamond, minus all the fluff you don’t want and/or need, give it a read ????
An IGI Graded Lab-Grown, 1.00 carat, “G” Color and “VS2” Clarity, perfectly-cut Round Diamond costs between $700 and $900. This 1.02 carat pictured goes for $700.
A GIA Graded Natural Round Diamond, 1.00 carat, “J” Color and “SI1” Clarity, perfectly-cut costs between $3,500 and $4,000. This 1.03 carat is $3,600.
#4. What is the value of a 2 carat Diamond?
To find out how much a Natural Diamond should cost at 2.00 carats, we’ll use this GIA Graded, perfectly-cut, 2.00 carat, “H” Color and “VS1” Clarity as an example. We’d sell it for $23,250. But, expect to spend anywhere from $20,000 to $25,000 on a GIA Natural Round Diamond of similar quality.
How much should an Engagement Ring cost with a 2 carat Lab Diamond? This 2.05 carat, IGI Graded Lab Diamond, “E” Color and “VS1” Clarity goes for $1,700. Nope, that’s not missing a “0” at the end. You can expect to pay between $1,600 and $2,200 for a similar Diamond.
#5. How much of a man’s salary should he spend on an Engagement Ring?
As much as he damn well pleases ???? “How much should an Engagement Ring cost?” does not have a one-size-fits-all answer.
- You’ve seen above that a gorgeous Ring with a perfectly-cut Diamond is achievable for $4,000 and well under.
- You can create a 2.00 carat Lab Diamond Engagement Ring, with our most popular setting (an additional 0.25 carats of accent diamonds) in 14kt Gold, for ~$3,000.
- You can opt for a less-pricey Diamond shape (like an Emerald-Cut) or a simple Solitaire setting, to craft a beautiful Ring around $2,000.
- On top of that, we’ve partnered with Affirm to offer up to 6 months of 0% interest financing on your Engagement Ring (after approval by Affirm).
- I recommend starting with our 10-Step Perfect Diamond Guide to get the most bang for your buck on a beautiful Diamond.
How much your Engagement Ring costs is totally up to you. Prioritize saving money to create a wonderful, debt-free life with your soulmate. Pay off student loans, start an emergency fund, invest, put away money for a down payment on your first home.
Set aside whatever you’re comfortable with, and we’ll use that to make a Ring she’ll adore forever ????
Javi Perez,
President
I’m here to help you create the PERFECT Engagement Ring for thousands off retail price. Keep saving for a lifetime with your soulmate while creating a Ring she’ll adore forever.
- Call me at 888-596-6380 (I’m extension 2)
- Hit the DMs @gabrieledwardjewelers
- Email me at javi@gabrieledwardjewelers.com
Why Gabriel Edward Jewelers for the Ring?
