What Should Be the Diamond Engagement Ring Price on Average?

What Should Be the Diamond Engagement Ring Price on Average?

Getting engaged with the person you love is probably the biggest moment in one’s life, as from that moment onwards, everything changes permanently. For this memorable turning point in your life, you need a diamond engagement ring that would be as memorable. However, at the same time, the diamond engagement ring price should be affordable for you, so you don’t lose all your important savings.

Factors to Consider When Determining the Ring’s Price

If you want to get a diamond engagement right with a price suitable for you, you must consider these factors discussed below:

The Type of Gold Used

Keep note that 3 types of metals may be used when buying a ring. Those metals are yellow gold, white gold, and platinum. Out of all these, platinum rings generally cost higher because they are purer and more durable, followed by yellow gold and white gold. Yellow gold is generally purer, while white gold is more durable because it’s mixed with another strong metal like Zinc or Copper.

The Four Cs of the Diamond

The diamonds usually have to go through a rigorous amount of testing to get certified or earn a distinctive grade in the market. The four Cs determining the price are the diamond’s cut, clarity, color, and carat (i.e., a unit of mass). Diamonds with a beautiful and clear look, with a perfect cut, and greater carat (ratio with density), are usually of better quality and thus have a higher price.

Your Overall Budget

Lastly, you should not disregard your budget. We all want a good ring, but we do not want to get overboard with the buying product. The price of the ring is not as important as the moment that will be cherished and the cost of living together for the rest of your life. So, prioritize the latter both to the former, and buy a ring with a diamond engagement ring price that will not put you under pressure.

Average Prices of Different Grades of Rings Today

As it may be quite obvious, not all the diamond rings in the market are of the same price. Depending on their grade, some may be more expensive than others. Below we have discussed the diamond engagement right price of different rings in the market today, from high-quality cut and clarity:

  1. The simplest petite diamond rings will require at most $500 in budget.
  2. A tapered Baguette diamond ring with 14k white gold will cost around $1150.
  3. A simple diamond engagement ring with 14k yellow gold costs around $1000.
  4. A halo diamond engagement ring price may be around $2000 (usually slightly higher).
  5. A platinum ring with a diamond may be around $1500 on average.

Conclusion

While we discussed the diamond engagement ring price of many rings out there, the question is on how much budget should be kept initially when shopping for it. A good and decent one will certainly be above $1000, about $1200 in particular. You can get a decent ring right around it.