Diamonds are one of the most valued and sought after gems, especially for engagement rings. But with diamonds being so highly valued, it makes them more expensive than other gems. This means that diamond engagement rings are expensive as well. But you want to uphold the tradition of a diamond ring to celebrate your engagement, but you don’t know how much you should spend! Follow these tips and you will be on your way to buying a diamond ring in no time!
Tip #1: Know Your Price Point
A 1-carat diamond engagement ring costs an average of $5,500 and the prices can vary from there based on the diamond cut, carat, setting, etc. For some people, paying $5,500 is reasonable and doable, so they pay it without batting an eye. For others, the thought of spending that much money gives them a panic attack! With this tip, the biggest question you can ask yourself is- How much am I willing to spend on the ring? If the thought of paying $5,500 for a ring doesn’t feel comfortable to you, then don’t spend that much. If it feels comfortable, then there’s your price point. But with a limited price point, you need to keep your expectations realistic. You won’t get a champagne ring on a wine box budget!
Tip #2: Know Your Partners Taste
You know your price point, but that’s only half of the equation. The other half of the equation is knowing what your partner wants in a ring. Pay attention to what styles and stones they seem to gravitate toward. If you notice them pointing out platinum settings with a princess cut stone, then that’s your best bet when choosing their ring. And keep in mind that synthetic diamonds and financing options do exist, so you don’t need to break your budget or their heart!
Tip #3: Educate Yourself
Once you know your price point and your partner tastes, it’s time to educate yourself on diamond rings. By educating yourself, you will have a better understanding of how every characteristic affects a ring’s price. Understanding how the size, setting, and precious metal used affect the cost will help you choose the right ring for both your needs. If your fiance doesn’t have any preferences for their ring, this will help you decide what sizes and styles fit your budget. And remember- There is always the opportunity to upgrade the ring later on in life.
Buying a diamond engagement ring for your beloved can be easy once you know your price point, their tastes, and you educate yourself as much as possible. With some patience and research, you will be able to find the ring that ticks off every criterion on your checklist, making the night you propose a memorable and joyous one.
