Price of an Engagement Ring: One Design, Different Diamonds

Following on from part one of our series “Cost of an Engagement Ring” we will take a look at a sample ring from our collection and discuss varying the weight and grade of the central diamond so that we can accommodate differing budget levels. In each case you will see how the price of an engagement ring can vary depending on your diamond selection.

Let’s look at the Ellissi “Dora” Oval Cut diamond halo engagement ring:

The Cost of the Ring Mount and Smaller Diamonds:

So now if we look at the costs involved in making the “Dora” ring without the central diamond, we can work out how much of the budget is left over for the main diamond.  This will determine what weight and grade is possible for the central diamond.  For the diamond halo ring made in 18ct gold, with F/VS diamonds in the halo and band, the mount cost will be around $2,000 – $2,300.  We always use F+/VS+ grade for these smaller diamonds, as being small, they really need to be high grades to stay looking great, especially once the ring is being worn and gets a build up of soap residue from hand washing/moisturiser, etc.  Lower grade diamonds (such as the jewellery chain stores use), will look fine in the special lighting of the shops, but quality really counts, and once the ring is being worn and subjected to everyday use, these low grade diamonds really start to look very ordinary indeed.

Selecting a Diamond That has High Lustre, is Non-Milky and has no Brown or Green Tinge:

As mentioned in our blog cost of an engagement ring, the 4 C’s covers only the very basics of diamond grading. There are actually about 20 factors that we look at when assessing a diamond’s quality, some factors are more important than others, but it is essential that a diamond must have high lustre, not be milky looking, and have no brown or green tinge to it.

The Price of an Engagement Ring Varies Depending on the Diamond Selection

For more information on some of the many issues associated with diamond grading.

The Cost of Three Different Weight Options

The ring costs outlined below are for diamonds that meet the high standards that we apply to all the diamond purchases we make. It should be noted that diamond prices vary on a daily basis, and that these prices were current as at the time of publishing. Diamonds are traded in world wide markets in US dollars, so the cost will be affected by the prevailing exchange rate, and the level of market demand.

1) Main diamond 0.70 – 0.74 ct F/VS2 makes the price of an engagement ring $7,200. If we dropped the grades to G/SI1, the cost would be around $6,400.  Very careful selection is required at the SI1 level, as there is a wide range and degree of inclusions that fall within the SI1 grade, and a low end SI1 will cost less, but could have inclusions that have a really negative effect on the overall look of the diamond.

2) If the main diamond to be in the 1.00 ct area with grades of F/VS2, the total ring cost would be around $10,200.  We can reduce the price of an engagement ring if we drop the grade levels back. For example, if we drop to G/SI1, the cost will be around $9,800.

3) There are a lot of options in oval diamonds that would sit between the two weight areas outlined above, so just for comparison, if I do a search of the mix presently with cutters we use, and with an eye for the best value, it would throw up options like this one:  0.91 F/VVS1 total ring cost $9,800 and some 0.80 ct options in F/VS1 making the price of an engagement ring around $8,400.

The price of an engagement ring depends on the weight and grade of the diamond.
The 0.91ct. F/VVS1 oval diamond in 3) above

I hope that is helpful info.  Please feel free to contact Ellissi if you have any further questions about the “Dora” Oval cut diamond engagement ring, or engagement rings in general and we will be happy to answer your query.