How much should an engagement ring cost?

An engagement ring is more than just a piece of jewelry: it is a symbol of love, commitment and a future together. A common question couples ask is: "How much should an engagement ring cost?" In this guide, we'll look at the different factors that affect the price of an engagement ring and give you tips on how to get the best value for your ring.

1. The 3-month rule: an outdated standard?

Traditionally, the rule was that an engagement ring should cost about three months' salary . This rule of thumb dates back to the 1930s and was popularized by the diamond industry. But in today's world, this rule is no longer necessarily up to date. The price of an engagement ring should primarily reflect your budget and individual preferences.

2. Important factors that influence the price

To make an informed decision, you should consider several factors that affect the price of an engagement ring:

• Diamond quality: The four Cs (carat, cut, color, clarity) are crucial for the price of a diamond.

  • Carat: Larger diamonds usually cost more. One carat equals 0.2 grams.
  • Cut: The cut affects how well the diamond reflects light. An excellent cut can increase the price.
  • Color: Diamonds vary in color. Colorless diamonds are more expensive.
  • Clarity: The number and visibility of inclusions and flaws affect the price. Higher clarity means higher price.

• Ring material: Engagement rings can be made of different materials such as gold, platinum or silver. Platinum is usually more expensive than gold or silver.

• Design and brand: A custom-made or branded engagement ring can cost more than a standard model.

• Lab-grown diamonds: Lab-grown diamonds offer a more cost-effective alternative to natural diamonds without compromising on quality. They are often up to 50% cheaper than natural diamonds, even though they are the same.

3. Set a realistic budget

A realistic budget for an engagement ring depends on several factors:

• Financial situation: Think about how much you can afford without jeopardizing your financial stability. You want to have enough money for a nice honeymoon and a good start to married life.
• Personal preference: What is important to you or your partner? A larger diamond is not always the best choice if the design and symbolism are more important.
• Long-term planning: Remember that the engagement ring is a long-term investment. Also plan for future expenses such as wedding, honeymoon and shared goals.

4. Price range for engagement rings

Here is a rough overview of engagement ring price ranges based on different budget categories:

• Entry level (CHF 1,500): In this price range you will find smaller diamonds or lab-grown diamonds in simple designs.

• Mid-range (CHF 1,000 - CHF 5,000): Here you can find larger diamonds or more unusual designs. Lab-grown diamonds often offer the best price/performance ratio between size and quality.

• Luxury range (over CHF 5,000): This price range includes large diamonds with excellent properties & tailor-made designs.

5. Tips for buying

• Compare prices: Use different online and offline providers to find the best deals.

• Seek advice: Get expert advice to find the best ring for your budget.

• Purchasing options: Consider whether you want to buy a ring directly in the store or online. Online stores often offer cheaper prices and a larger selection. This is because online stores do not have the costs of a physical store.

6. Conclusion: Quality over quantity

The most important consideration when buying an engagement ring is not the price, but the meaning of the ring to you and your partner. An engagement ring should symbolize your love and your future together. Set a budget that suits you and choose a ring that comes from the heart.

I, the founder of Stellini Diamonds, gave my wife a smaller diamond when we got engaged. As I was still in training there, I didn't have a big budget. 10 years later, I upgraded to a large 2.5 carat ring. :)