This is a question that is often asked of us – “what should you spend on an engagement ring?” Or, commonly, “What is the average cost of an engagement ring?”. It is a question that is hard to answer, as for everyone, the answer is different, depending on their circumstances.
The issue was brought up in a fairly unpleasant way this week. It was revealed by a young bride in the US that her and her husband-to-be had bought a ring set from a popular chain store. One of the sales assistants in the shop, obviously not realising that the couple were purchasing the rings to be worn as an engagement ring and a wedding ring, said that it was “pathetic” that some men bought these rings as engagement rings. The couple overheard her comment and naturally, they were devastated.
They later wrote about what had happened to them in a Facebook post. The young bride said that she would have still married her husband if he had got her ring from a 25 cent gumball machine. The post went viral. Since then, the chain store has since issued a statement expressing their “regret” for the comment. They said that comments such as these are not what they expect from their sales staff. And I can only imagine how terrible the sales assistant would have felt when she realised what she had said.
The young Tennessee couple are just starting out and money is tight for them. They bought what they could for the money they had. And they chose two really pretty rings! So they did well. You do have to be comfortable with the amount that you are spending on a ring. It does not matter what that amount is.
What Should You Spend on an Engagement Ring?
It is helpful if we know what a couple is comfortable spending on their engagement ring. Then we can work out what is going to give them the best possible diamond ring for that budget. Of course as we custom make each ring, we can cater to a range of budgets. Custom making gives us the freedom to choose the best balance in the size and grade of diamond for the available funds. We do only work in precious metals and sapphires and diamonds. This means that we simply cannot cater for every budget level. These materials cost what they cost. You can’t get around that if it is gold, platinum and diamonds that you want.
Probably the starting price for the work we do would be around the $3K mark for a solitaire diamond ring in reasonable grades. The exact cost will come down to the weight and quality of the diamond chosen. For us, it does not matter if you are spending $3K or $30K or $300K, we are always striving to give the best result and the best service that we can along the way.
An engagement ring is a symbol of your love and commitment to each other. It would be a very great shame and a great indictment on our society if what you spend on an engagement ring became more important than what the ring actually symbolizes.
The young bride, Ariel, had the last word when she said “It isn’t the ring that matters, it is the love that goes into buying one that is”. What a great response! That says it all, really.