CostHelper.com > Weddings > Engagement Ring

Engagement Ring Cost

How Much Does an Engagement Ring Cost?

Low: $125-$500

Medium: $1,000-$2,000

High: $3,500-$5,000+

Typical costs:

For an engagement ring, on the low end, expect to pay $125 to $500 for a quarter carat, or smaller, solitaire diamond set in 14-karat gold, or for diamond alternatives such as other gemstones, moissanite or cubic zirconia. Examples include this moissanite "Russian Brilliants Solitaire Ring" from RussianBrilliants.net and this "white gold cross over diamond ring" from Mondera.com.
In the mid range, the cost would be $1,000 to $2,000 for mid- or high-quality solitaire diamond up to .75 carats in a simple platinum setting or maybe a carved or filigree 18K gold band. An example is this platinum diamond solitaire ring from BlueNile.com.
And, at the high end, $3,500 to $5,500 buys a high-quality one-carat diamond set in 18-karat gold or platinum, such as this princess-cut diamond solitaire ring from BlueNile.com.
Sometimes smaller side stones are included, such as in the "round brilliant with pear sidestones" ring from Tiffany & Co.Of course, prices can go much higher for a diamond larger than one carat, a center diamond flanked by diamond baguettes or a band with channel-set diamonds.
The Gemological Institute of America offers tips on how to make a wise purchase.

What should be included:

Additional costs:

Like all valuable jewelry, engagement rings should be insured. Before buying insurance, get an independent "replacement value" appraisal and check to see whether your homeowner's insurance covers loss for reasons other than theft and, if so, what is the dollar limit. Check to see if you can add a rider to your insurance to more fully cover the ring. WeddingSolutions.com offers ten tips for appraising and insuring an engagement ring.
With vintage or antique diamond rings, sizing might cost $20 to $50 extra. Also, depending on the condition of the ring and whether it has been sized before, a jeweler might not be willing to risk damaging the ring by altering it more than a size or two.
For a custom-made engagement ring, expect to pay a design fee of at least $200.

Discounts:

Tip: Look at jewelry stores for post-holiday sales right after Valentine's Day, Mother's Day and Christmas.

Shopping for an engagement ring:

Consider choosing a stone separately and having it set. If you really want to save money and avoid jeweler mark-ups on diamonds, The Association for Wedding Professionals International suggests checking pawnshops for a diamond ring and having the stone reset.
DiamondTutorials.com has a guide on how to buy an engagement ring. And The Knot.com has a primer on different styles.
If you or your future fiance is concerned about "conflict diamonds" that might come from a war zone in Africa, you have several alternative options. Polar Bear Diamonds are government-certified to be mined and cut in Canada under fair labor practices.
Moissanite, a laboratory-created gemstone, resembles a diamond but costs less. Moissanite.com offers a retailer locator, and Weddings.About.com offers a primer on moissanite. Or, Greenkarat.com, sells rings made from recycled gold and recycled or lab-created gemstones.
Websites such as Topazery.com and AntiqueJewelryMall.com sell vintage and antique diamond and non-diamond engagement rings. FayCullen.com offers a guide to styles of antique engagement rings.
Popular online engagement ring sellers include BlueNile.com, which has a build-your-own ring feature, DanforthDiamond.com and JamesAllen.com