How much should an engagement ring cost?

Question

Is there some unspoken rule to work out the right price?

Answer 1

That depends. My hubby and I were on a strict budget when we got engaged (I was working in a low paid reception job and he was at college) so we agreed that our rings would cost no more than £100 each and even then it took us three months or more to save for them! My ring in the end cost £60 and his £70 and its still in one piece now and i wear it every day!

If your future fiance knows about it, and you're getting rings each discuss your budget and let her choose but if its a surprise you might have to use your discretion as to how much you want to spend for what you can get/what her taste is.

good luck and congrats ;)

Answer 2

The unspoken rule is that it should be 2 months salary. Depending on the circles you socialize in, however, it is becoming common that anything less than 1 carat is "too small." You can get an approximate size by looking at the rings of friends in your circle. I've known women to look down on others and make snap judgements based on the size of the ring, so keep in mind that it is a status symbol for a woman.

However, listen to the people who say it's an issue of love not money. Recognize that you can do many things with the money that may help you establish a household as a new couple, and only buy what you can afford. It is not uncommon in this day for a second ring to be purchased later that is bigger than the first, so you have time to buy up if you want to.

I end with a story: My grandparents - happily married for over 50 years were too poor when they married to buy any rings at all. My grandmother never had an official ring, but she's bought herself a new one every year for the last 20 years, as a reward for being such a good wife. My grandfather smiles every time she says it and never once grumbled about the bills :)

Answer 3

£2

Answer 4

Read a book on the gem industry - there is a book out on the history of diamonds. This will give you an idea on what is valuable or not. Very small diamond are of low value and as the stone gets bigger the value got up steadily per carat. The largest diamonds are the most expensive per carat.
It would be a good idea to get the ring made for you by a designer. I recommend my cousin who runs EC One. Jos is a really nice guy and has made all our families engagment rings. I will be worth the extra you pay.

EC One jewellery
The original Clerkenwell store was opened by husband-and-wife team Jos and Alison Skeates in 1997, but it’s lost none of its freshness over the years and there’s now a branch in Notting Hill. The imaginative range features more than 50 designers, but Jos designs much of the jewellery (priced up to £5,000) and big cocktail rings are the order of the day. The most fun to be had is with the semi-precious stuff. A bespoke service is available.
Best buy ‘Hope’ bird necklace by Arena, £64.
EC One, 41 Exmouth Market, EC1 (020 7713 6185/www.econe.co.uk

Sorry I ignored the question but I think you should work out a value for yourself, if it is made for you then it will be special. If you got and get one off the shelf then just get the cheapest you can bye.

Hope this helps

Answer 5

the traditional answer would be an entire salary for the month,
but these days in the time of bling, bling!!! I suggest that you buy the largest ring you can afford, because it shows ho much you love your girl, and to be honest if you are planning on proposing you should at least have been saving up for a while.......... I have several friends that are engaged at the moment, and one has this tiny ring, with a really small diamond, I mean i didn't even realise she was engaged............ until she told us, you want something that will stand out and make women go ahhh,, and ohhhh when your girl tells them that you have proposed to her...
also have you ever considered another type of stone, rubies, emeralds, not all women actually like dimonds so you could buy her another stone, which may well be cheaper
hope this helps and good luck,,
and I hope a soon to be condgratulations

Answer 6

When I was a young girl it was supposed to be one week's salary of the man, other things being equal. But the ante has been upped and upped.
You should ask yourself where this information comes from. It comes from the full page advertisements taken out by jewellers and diamond merchants. It is all hype. If you are getting engaged a huge rock will not help your marriage last. You would be better off to get one with a cubic zirconia which looks just as good for a fraction of the price, and spend your other money on something practical like a decent washing machine or helping with the cost of your wedding so your parents don't have to mortgage their house. Or get a coloured stone like amethyst or garnet which look lovely and are not expensive.

Answer 7

The engagement ring should cost what the buyer can afford. 2 months salary is a made up idea by a marketing company to get guys to spend more on a diamond - - it has no basis in the real world. My wedding ring has aquamarine stones in it, not diamonds. But I do see alot of women choosing diamond eterinty bands for their wedding rings. The wedding ring is usually very affordable - - around $100 to $200 for a plain band and more if there are stones.

Answer 8

Traditionally it was one months salary but my engagement ring cost a lot less than that - £85 13years ago. To be fair if your girlie really loves you price is irrelevant - if its that much of an issue is she really worth it.
I have a relation who insisted that she would not get engaged until she got the ring she wanted and then spent about £3000 on cosmetic surgery before she got married to look good in the photos. Her fiance told her if it was that important to her to go out and earn the extra money herself so she did!

Answer 9

Here's an excerpt from bluenile.com:

"The classic engagement ring is composed of two parts, a diamond and a setting. For the best value, find the setting she'll love then devote the remainder of your budget to a beautiful, certified diamond.

This is an emotional event, and a purchase that will last a lifetime. The two-months salary convention is a common starting point, but we believe that regardless of the amount you budget, your most important considerations should be quality and value."

Answer 10

Depends on what you can afford.
The value of the ring doesn't matter but a ring that is going to last and not fall apart would be advisable.
Platinum rings are good and vary in price depending on the size of the diamond.
If she loves you and wants to marry you then the value of the ring won't matter anyway.