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Truths and Myths of Engagement Ring Pricing

Feb. 17 2014
An affordable engagement ring is still affected by the truths and myths of ring prices.

I would love to buy the biggest, most expensive engagement ring I can possibly find for L. Unfortunately, I fall prey, like many others, to the subconscious belief that this will show her just how much I love her.

Of course, on a logical level, I know this is rubbish and knowing L and her frugal inclinations, if I went through with that kind of outrageous purchase she would throw it at me and then tell me to take it back! Affordable engagement rings are a positive reality and might convey an even better message; one that says ‘I care about the security of our financial future and all the opportunities I hope it will provide for us’.

Banknotes, money, cash by Howard Lake, used under a Creative Commons License (http://creativecommons.org/licenses/by/2.0/legalcode)

Spending a 3-months salary on an engagement ring is no longer necessary as long as you get creative.

On average, engagement rings cost around £1,800 these days.

In research conducted by jewellery insurers LV, they have found that 38% of men tell their partner what they have spent on the ring.

Only 3% of men have lied to their bride and exaggerated the price.

Many people obviously believe that the ring price is a private matter, but more and more couples are making the decision together. An affordable engagement ring doesn’t have to break your bank. There are plenty of options out there that allow couples to stay within a reasonable spending zone and still get the ring of their dreams.

Surprising Facts about Diamond Prices

Another myth is that the bigger the diamond the better it is, and consequently the more expensive it is. The fact is that a diamond could be 5 carats and just horrible. It really comes down to the 4 C’s, which are cut, colour, carat, and clarity. A smaller stone with a better colour is going to be more expensive than a bigger one with poor colour.

It is more sensible to get a smaller but higher quality diamond than waste your money on a bigger one that doesn’t have all the glitter and shine it should.

Many couples also mistakenly assume that a gemstone like a sapphire, opal or coloured diamond is going to be less expensive than a white diamond. Although this can be the case in some instances, many times a coloured stone can be more expensive than a diamond. It is interesting to know that only one out of one hundred diamonds are coloured which makes them extremely rare. Rare high quality rubies and sapphires are also more often than not marketed as a high luxury items, and are priced high if not higher than a regular diamond.

Finding affordable engagement rings is not a complicated matter. Researching alternative, more affordable stones can open up a world of options as can working with a bespoke designer.

Bespoke rings are inherently more affordable engagement rings as the designer is able to work within your budget, provide less expensive options, and create the most exquisite, 100% unique ring customized just for you.

Their expertise in the field will also provide you with the hard facts you will need to be able to easily differentiate between the myths and the truth.

Meet Independent Jewellery Designers

Ruth TomlinsonLondon
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