What’s your Engagement Ring Budget?


With a beautiful blue diamond Cartier engagement ring – thought to be the world’s most expensive - expected to fetch £20.3 million pounds when it goes to auction at Sotheby’s, we’ve recently got to thinking about how much you should spend on an engagement ring, and what you can get for your budget.

Traditionally it’s said that an engagement ring should cost one month’s wages. This is rather outdated nowadays, however, with some couples spending more, and some spending less, depending on their priorities. And there are plenty of ideas for rings out there that can influence your budget: from alternatives to diamonds through to bespoke jewellery pieces.

So just what can you get on a budget, as a mid-range ring and as a more luxurious ring, nowadays? We round up our favourite engagement ring ideas to suit all budgets!

Beautiful Budget Options

As a budget option, you could go down the route of a synthetic diamond, such as cubic zirconia.

However, we’d strongly recommend that you make sure that your fiancée-to-be is completely on board with this idea, perhaps by talking about where else the budget could be spent by saving on the ring. It’s ingrained in society that diamonds are both forever and a girl’s best friend, so you need to make sure that your partner is comfortable with the idea of a fake one.

Instead, why not forgo the diamonds – fake or otherwise – altogether? You could opt for a simple ring – such a as a Celtic knot style – or a bespoke ring made with alternative gemstones. A lovely idea we’ve seen recently is his and hers birthstones set together. Choose a local jeweller that specialises in bespoke jewellery and work with them to create your ideal piece.

Mid-Range Rings

If you’d like something a bit more flashy but don’t have the budget to boot, consider pavé diamonds. Pavé diamonds are tiny stones which are more common to find, but still give a beautiful, crushed-ice look to any jewellery that they adorn. Choose one larger stone and then surround it with pavé diamonds to create some bling.

As an alternative, look at the carat size of any diamond you’re buying. The cost increases considerably with every half and full carat that you purchase, so as a tip buy a stone which is just shy of the next carat up. So for example, buy a stone which is 1.9 carats instead of 2; you’ll still get a very similar look to a 2 carat ring, but at a fraction of the price hike that 2 carats brings.

Speak to a local jeweller if you’d like a piece of bespoke jewellery with a slightly different sized stone such as this, as they may be able to help in sourcing it and setting it.

Push-the-Boat-Out Budgets

There’s plenty of choice if you have a large budget for an engagement ring. If you’re going down the traditional diamond route, discuss with your local jeweller the clarity, carat and cut of the diamond that you’re after so that you know where your money is going.

Alternatively, choose a rare stone such as tanzanite and set it with diamonds surrounding it for something different, or opt for a more expensive precious metal for the band of your ring, such as platinum.

Make sure that you know your partner’s taste well, or get her involved with the process: sometimes less is more, even with a big budget, so check whether she wants something flashy or something slightly more subtle.

No matter what budget you have, and whether you want something ready to wear or a piece of bespoke jewellery, engagement ring shoppers in Ilford, Hainault, Chigwell and surrounds can find something to suit their needs at Hainault based EK Jewellers. Don’t be afraid to ask about our bespoke services or talk about budget with us: we’ll be happy to help.


Posted on by Ian Tubby.