How Much Should I Expect to Pay for an Engagement Ring?

Engagement rings are a great way to express your love and commitment to your fiancĂ© or girlfriend, but they can also be expensive!  According to, the average cost of an engagement ring is $3,500-$4,000, depending on the type of stone you choose. However, that does not mean it has to break the bank.

You do not have to spend thousands of dollars on an engagement ring, especially if you are looking for something affordable. The most important thing to remember when shopping for an engagement ring is that there’s no one size fits all. That means you need to find out what kind of style best suits your personality and lifestyle before you start shopping.

If you want something classic, then you should look at antique-style engagement rings. These rings tend to come in smaller sizes than modern styles. Therefore, you may not feel as overwhelmed by the selection. On the other hand, if you prefer contemporary designs, then you will probably enjoy browsing through options that are more modern.

High-End Diamond Engagement Ring Options 

The diamond industry is a multi-billion dollar business, with many companies competing fiercely to sell their diamonds. In fact, some companies will even offer free shipping just to get your attention. While this might seem like a good deal, it is actually a bad idea because it often comes with a high price tag. When choosing between two similar engagement rings, always opt for the cheaper option. This will help you save money while still getting exactly what you want.

Diamond jewelry solutions are the most expensive, followed by platinum, gold, silver, and titanium. Here are the reasons as to why:

  • Availability. Diamond is a rare metal, which makes it difficult to mine. As such, it is much harder to obtain. Because of this, the price is higher than other metals.
  • Costly mining methods. Mining diamonds requires special equipment and techniques. It takes a lot of energy and time to extract them from the ground.
  • Maintenance costs. Diamonds require constant maintenance. Dealers keep them clean and polish them regularly to keep their shine. Therefore, this adds on to its final cost at the retail shop. 

Best Diamond Alternative – Moissanite Rings 

It is obvious that diamond is quite expensive due to its rarity. So, what do you do if you are working on a tight budget? Well, you can consider a diamond alternative and this is moissanite. Moissanite is a synthetic gemstone that looks very similar to real diamonds. It is available in different colors and cuts, making it suitable for any occasion.

Best of all, Moissanite is less expensive than diamonds. Unlike diamonds, moissanites are lab-grown using a chemical process, which makes them completely natural. As such, they are hypoallergenic and non-porous. In addition, they are durable, scratch resistant, and easy to maintain.

Moissanite is ideal for those who want a beautiful piece of jewelry without breaking the bank. The price of moissanite is around $100 per carat, compared to diamonds’ average price of $1,000 per carat. Here is why: the gemstone is lab-grown unlike for most diamonds. Again, it is easy to maintain hence little additional costs to its retail price. 

Engagement Ring Buying Guide 

If you are looking for a truly unique engagement ring, then you should consider buying a custom design from a jeweler who specializes in creating personalized jewelry. A customized ring allows you to select the exact setting and gemstone combination that you want. It is a much better investment than a pre-made ring because you can customize everything down to the last detail.

If you want a traditional engagement ring, then you might want to go with a solitaire setting. Although these rings are usually less expensive than a center stone, you will not be able to change the diamond later. Instead, you will have to buy another ring to replace the original.

Final Thoughts 

When selecting an engagement ring, you need to make sure that you choose something that reflects your personality and style. If you do not know where to start when shopping for an engagement ring, then you can check out our guide here. Stones such as moissanite afford you affordable custom designs suitable for your specific budget.