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How Much Do Diamond Engagement Rings Cost’

September 17th, 2020

You’ve found that special someone and can picture spending the rest of your lives together, but there’s a little more legwork to do before the question is popped. If you’ve been researching how to buy an engagement ring, chances are you’ve come across a lot of conflicting information and budget suggestions.

That’s because, when it comes down to it, there’s no one right way to buy an engagement ring. Ultimately, the ring you decide on is based on what you can afford, your lifestyle, and your tastes as a couple. But don’t worry, we’ve created this outline to help you figure out average prices, what to look for in an engagement ring, and some common misconceptions.

What are the Average Costs of Engagement Rings?

With an engagement ring, the ultimate cost is up to you. Each ring is unique in style and price - and at Huntington Jewelers there are endless price ranges and styles. In 2019, diamond retailer, Ritani, looked into statistics to find the average price for an engagement ring across the US $7,750.

Starting your new life together shouldn’t include being in debt from buying the ring. If your soon-to-be-bride wants a more luxurious option and you have the means to support that, there’s nothing wrong with spending a little extra. On the contrary, a more frugal couple might want to set that money aside for buying a house and supporting a family instead.

Set Aside a Budget For Diamond & Setting

It’s important to note that when you’re buying an engagement ring, you’re looking for both the diamond itself and the setting. These two items will be priced separately so this element should be worked into your budgeting plan as you’re on the search for your dream engagement ring.

As you’re beginning to finalize your budget, remember to think about what you’re looking for in an engagement ring as well. Do you want a more luxurious center diamond or a memorable setting? Keep in mind that certain settings can be more expensive. If your future spouse is (understandably) obsessed with Meghan Markle’s three-stone ring, this type of setting can easily cost you a pretty penny and affect the size of your center diamond.

Instead, if you’re intending to focus the bulk of your budget on a ring’s diamond center stone, consider more affordable setting options and metal choices. Whichever ring decide to go with, it should fit comfortably into your budget.

Affordable Setting Options

One of the trendiest settings on the market right now is a solitaire ring. This is a classic and straightforward design that allows you to spend the bulk of your budget on finding the diamond of your dreams as the center stone. There are still options to add more diamonds around the band, but this way, you’ll be able to save a little bit of money.

This style suits someone with a chic and sleek persona. Solitaires, often set prong style, are the most popular option and give maximum exposure to your diamond; they are essentially a pedestal for your stone. This will ensure the quality of your diamond is excellent and gives a little extra glimmer at every angle.

Types of Metal to Save Money

Typically, delicate or thin bands tend to be less expensive, because less metal is required. While you are browsing, keep an eye out for this style as it can be an easier option to fit most couple’s budgets. There’s still a range of possibilities to decide between, but it’s important to know which aspects you should be spending the most on like your metal choice.

14k gold rings adorned with beautiful diamonds can be found starting at $1,800 making them a more affordable option, rather than pricier 18k gold or platinum. Another way to stick to your budget is to consider bands that feature intricate metalwork rather than rows of diamonds. These still provide a stunning design without accelerating the price point.

Additionally, you have the opportunity to look into utilizing different gemstones and adding a pop of color to your ring. As you can see, there’s a variety of possibilities that’ll help you to stay right on track to meet your budget.

Luxurious Possibilities

If you have the means to support a bigger budget and want to go on a more luxurious route, there’s definitely room for this as well. Ultimately, you want to spend money on characteristics that will give your ring a ‘wow’ factor like a hefty carat weight without sacrificing the color, cut, or clarity, and glittering side stone options.

Specifically, within the Tacori RoyalT collection, you will find dazzling pieces that make you feel transported to an era of elegance and luxury. These bold and beautiful settings are crafted to hold diamonds of 2cts and larger and stand out for their exquisitely crafted frames. If you are looking for something sophisticated and timeless, you will find a wealth of options from blooming three stone rings to the specially designed “Founder’s Rings” crafted by Haig Tacorian himself. Browse this collection of engagement rings and you will understand why these might be a little more costly than other rings on the market.

Find Your Dream Ring with Huntington Fine Jewelers

Overall, the engagement ring buying process can be strenuous, but also exciting! With the help of Huntington Jewelers, you’ll be able to find a ring that’s right inside your budget and encompasses everything you’re looking for. Our team is dedicated to helping each one of our clients and new customers find pieces that perfectly capture what they’re looking for. Stop by our three Oklahoma City jewelry stores today, and get started on your journey to forever.