How Much To Spend On A Diamond Engagement Ring?

Author: DeGem | 2023-06-12

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how much to spend on a diamond ring - DeGem


Nothing beats a good old diamond engagement ring. It's an expression of a shared future and a beautiful way to show someone how much you care. 

Traditionally it represents financial and emotional security provided to your loved one, as natural mined diamonds have a store of value due to their scarcity. Lab-grown diamonds on the other hand, do not retain value due to their rapidly decreasing costs of production. 
To clarify, this article applies only for a ring with natural diamonds

If you have decided on sealing your commitment with a natural diamond ring, it only makes sense you want to get it right. And while buying a diamond ring is an emotional investment, it's a financial one, too. At the end of the day, a natural diamond ring can inevitably become a treasured heirloom — a timeless gift that keeps on giving.

But before you pop the big question, perhaps you'll first be faced with another. And that's: "How much should I spend on a diamond ring?" That's a great question, even if the answer varies quite a bit. Here's what you need to know.


How much should you spend on an engagement ring?


create a budget before buying an engagement ring - DeGem


The simple answer is to spend what you feel comfortable with. Talk to your partner about both your financial and style inclinations. And after you've created a budget that's comfortable for both of you, try your best to stick to it.

Also, steer clear of engagement/wedding ring “rules”, such as the three-month salary formula. Because let's face it — it's all marketing fluff. Consider your overall financial situation and ask yourself exactly how much you can afford to spend on a ring without putting a strain on your finances. Remember that not all diamond rings have to be priced at a fortune, either. A more modest ring, such as this DNA Diamond Ring from DeGem, can sometimes be just as beautiful and unique as any extravagant piece.


What affects the cost of a diamond ring?


4C's can help estimate the cost of buying a diamond ring - DeGem


Here are the essential pricing factors you should consider, especially if you're looking for the perfect ring at the best value:


Diamond Characteristics

The four C's (cut, clarity, carat, and colour) can help you estimate the cost of purchasing an engagement ring that fits you and your fiancé.
Cut: Often considered the most important of the four C's, a diamond's cut determines how light reflects between its facets. Cut quality determines the diamond's symmetry, brightness, fire, and how brilliantly it sparkles.
Clarity: How many blemishes or inclusions and how visible they are. Inclusions are things like feathers, crystals, clouds, or other imperfections inside the diamond.
Carat: The size of the diamond. Engagement ring diamonds usually range from 0.20ct onwards.
Colour: The colour of the diamond on a scale from D (no hue) to Z (yellow-hue). Diamonds with little to no hue are generally considered the most valuable and rare.


Diamond Shape

Diamonds come in all sorts of shapes, and not all are created equal. Round diamonds are the most sought-after and the most expensive shape because more weight is sacrificed to achieve this shape. For a diamond ring at a lower price, consider a princess, oval, or emerald cut.


Colour Of Jewellery Setting

The right colour of jewellery setting (the metal base your diamond sits in) can either enhance or detract from your diamond's appearance. White gold and platinum are the timeless choice to set diamonds because the cool metal hue enhances and complements the whiteness of diamonds. Yellow or rose gold settings are making a fashionable comeback because it makes a stylish statement. 


Final Verdict


purchase a diamond ring that you are comfortable with - DeGem


What's most important is that you feel comfortable with your purchase. Don't let anyone pressure you into spending more than you're comfortable with — it's your money and your ring, after all. Remember to avoid myth such as spending three months of your salary on an engagement ring. Compare options and allow yourself to see in person how the diamond looks like in different settings before making any decisions. 

Some couples also opt to purchase a more affordable diamond ring for their budgets and then upgrade their diamond later in life as an affirmation of their married life. 

To get the most beauty and value out of your diamond, shop online at DeGem or visit any of our physical stores. Find a stunning diamond engagement ring in Malaysia like the DeGem Brilliant Blossom Diamond Solitaire Ring or DeGem Trio Emerald-Cut Diamond Solitaire Ring at excellent prices. You can also use DeGem's Build Your Diamond Ring tool to customize every aspect of your ring, down to the perfect setting and stone. If you are a perfectionist and believe in maximising your diamond’s sparkle and value, consider BrilliantC diamonds for a consistent and patented cut that produces ultimate light perfomance. 


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