“Your engagement ring should be worth 2 months of your fiancées salary”
This theory has been around since the 1980’s but where did it come from?
It was clever little marketing ploy from Debeer’s – the largest diamond company in the world, to increase spending and let’s just say it worked!
A survey conducted across Australia in 2017 found the average cost of an engagement ring is $6000 which generally speaking, fits into Debeer’s theory but what happens when you have your heart set on a 5 carat cushion cut but your budget doesn’t allow?
Do not despair, we have compiled a list of engagement ring design options that will blow your mind (not your budget)
If your dream ring design consists of a large stone, a halo design is a great option.
The halo design consists of a circle of diamonds, “a halo” around a stone giving the illusion of a larger stone. Each gemstone or diamond is set in a pave or micro pave setting, allowing the centre stone to shine. You have one, two or even three halo’s around a stone.This unique design can make the appearance of the centre stone up to half a carat bigger.
Lab Grown Diamonds
Ethically sourced lab grown diamonds are wallet friendly without compromising on quality.
Created using the DNA of a natural diamond, lab grown diamonds have the same light refractoriness as a natural diamond but are better for the environment. A lab grow diamond is around 30% cheaper than their natural counterpart, enabling you to purchase a bigger stone for less.
The traditional engagement ring gemstone of choice is a white diamond but in recent years we have seen a rise of the coloured gemstones.
Using coloured gemstones can drastically reduce the price and even provide you with a bigger stone. Stones like morganites, sapphires, salt and pepper diamonds and moissanites, make stunning alternatives to the traditional engagement ring.
Selecting a gemstone alternative also opens more doors for a unique and different style, one not achieved through a white diamond.
For every different diamond cut, the price can vary. A round brilliant cut can cost up to 35% more than fancy cuts. This is largely due to the popularity of the cut as well as the way in which is cut. The light refraction of a round brilliant cut is superior than any other stone. By selecting an alternative cut, this can reduce the final price and save you money on the final piece. (This is largely dependant on the colour, clarity, carat weight and cut of the chosen stone)
The word custom immediately flashes up dollars signs, but it doesn’t always have to be the expensive route.
Choosing a custom ring allows you to spend your budget on the elements of your engagement ring that you do want vs what you don’t. For example your ring design may include no shoulder stones in the band, this saves you money on labour, gold and stones. You might prefer a dainty band to compliment your solitaire, thus saving money on less gold used.
Overall custom design allows you the freedom to design your dream piece all while putting money back in your pocket.
So there you have it, some budget friendly tips when purchasing your engagement ring. From choosing a different cut, to a coloured gemstone alternative there are many ways in which you can still have your dream engagement ring. If you would like to know more about how we can help, we offer free design consultations in which we go through in detail your design and options that fit within your budget. To book contact us firstname.lastname@example.org