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How much should

you spend on an

engagement ring?

How do you establish how much money you should spend on a diamond engagement ring ? Vashi.com gives you our simple guide to working out a sensible budget, giving you the best diamonds and value to get the perfect dream ring.

If you are already browsing for diamond engagement ring, you will no doubt have come across ‘helpful guidelines’ recommending that you spend two or even three months’ salary on engagement rings – this is often touted as a ‘guideline’ but doesn’t take into account affordability or quality.

The price you pay for your diamond engagement ring shouldn’t be the main focus of your purchase or your engagement. You’re looking for a ring you will fall in love with and be happy to wear for a very long time; look for sparkle and quality.

It will come as no surprise that high street jewellers would like you to spend as much as you possibly can on an engagement ring.  You are the only person who can decide what you can comfortably afford.

Consider other current life events which require money, such as planning your wedding, bringing up your children, buying a house or going on your honeymoon.

Do your research to find what you really want in a ring and then shop around for the best deal on your diamond engagement ring.

Your engagement ring is probably the most important and possibly the most expensive jewellery purchase of your life, a symbol of your love and commitment for many years to come, so it makes sense to buy an engagement ring that will stand the test of time, both in terms of quality and durability.

Online jewellers have lower overheads, they don’t employ sales assistants and security for  expensive retail space.  This often means that you can get a better deal and that online jewellers will be more flexible on the price.  Your diamond engagement ring purchase should come with a free valuation for insurance purposes, money back guarantee and free return shipping.

Decide whether your ring will be made in platinum, white gold, yellow gold or a combination of precious metals.  This will give you an idea of how the price of the setting will affect the overall cost. Platinum is the most expensive precious metal, a similar look can be achieved using White Gold as an alternative. If you are looking for yellow gold, 9 carat will be cheaper, than 18 carat but will still have the same rich colour. Once you have an idea of the price of your setting you can budget for the price of your diamond.

A staggering 14,000 different grades are used by the diamond industry to classify the quality of a diamond.  Relatively small differences in colour and clarity, for example, can make a dramatic difference in the price of your diamond engagement ring.  Only a diamond expert would be able to tell the difference between many of them and even then only under ten times magnification.

The average person is unable to tell D, E and F colour grade diamonds apart unless they are seen together; everyone can tell the huge difference in price. Within their setting, all of these will look dazzling bright white and absolutely stunning.

If your budget is flexible, you can get incredible deals on diamond engagement rings if you look out for diamonds with an F colour grade and a clarity grade of VS1 or VS2 (very small inclusions).  An Ideal cut diamond will give you a really beautiful sparkle and brilliance on a diamond engagement ring of this quality.

If you’re after a larger diamond size for roughly the same budget, it becomes a matter of balancing size and quality.  A Good cut diamond with slightly more of a colour hint (e.g. I or J colour grades) or a diamond with slightly more blemishes and inclusions (SI2 clarity grade) will give you more carat weight for your money without compromising too much on the overall quality of your diamond engagement ring.

Our advice is to work out your price range and stick to it.  Don’t be pushed into spending more than you can afford.

Find a ring you love and feel will look beautiful which you know you can afford. 

Find a ring you feel will look nice and you know you can afford. Our engagement ring and diamond experts will be delighted to provide you tips to help you decide your engagement ring budget, and they are available for live chat (online, on the phone or in person) 7 days a week. You can also email us on: service@vashi.com