According to The Knot’s most recent Jewelry and Engagement Study, the average carat size of engagement rings is 1.7 carats. Meanwhile, the average cost of an engagement ring of this size is $5,200. This can be important information to know, whether you shop for the jewelry yourself or if you and your fiancé-to-be decide to go engagement ring shopping together, as it will let you compare and contrast various options against the national averages and, ultimately, get the best bling for your buck.
What You Will Learn
What Is a Diamond's Carat Size and Why Does It Matter?
When considering the average engagement ring size, it can be helpful to know what carat size actually is and how it impacts the look and cost of that important center stone. Carats refer to a diamond’s weight — not necessarily how big it appears once it’s in the engagement ring setting. As such, you can have two rings of the same carat weight side by side, and one will look like a dramatically larger stone, depending on the diamond’s shape.
While, ultimately, yes, you should pick the ring that’s going to look best on you or your partner and that you or they will love the most, the carat size still matters because it’s one of the primary factors that will influence the price and value of a diamond engagement ring.
How the 4 Cs Come into Play
The four primary factors that will influence ring quality and price are the 4 Cs:
- Cut
- Color
- Clarity
- Carat weight
As mentioned, carat weight is the weight of the diamond, clarity refers to how free the diamond is of inclusions or imperfections, color refers to how color-free the diamond is, and the diamond cut refers to how well the diamond has been cut to reflect light.
How to Buy the Perfect Engagement Ring for Less Money
Carat weight is naturally important to some people, and having an engagement ring with a diamond larger than the national average may influence its value over time. But, of course, the more you increase engagement ring carat size, the higher the price tag will be.
However, if the typical engagement ring size isn’t something you are concerned with and appearance is more important, there are ways you can buy a bigger-looking diamond for less money.
1. Choose the Right Diamond Shapes
1. Choose the Right Diamond ShapesCertain diamond shapes carry their weight differently, meaning you can buy a diamond that’s technically smaller and therefore more affordable, but it will look more pronounced than other diamonds of the same size but a different shape.
Diamond shapes that typically appear larger include:
- Marquise diamonds
- Pear diamonds
- Oval diamonds
- Emerald diamonds
While not as classic, trendy east-west engagement rings can appear larger, too. These rings utilize one of the above, longer cuts but lay differently in the setting for more impact. For example, rather than having an emerald-cut diamond that lies perpendicular to the ring band, an east-west ring positions the diamond across the band, which gives the illusion it’s larger.
2. Pick the Right Engagement Ring Settings
The ring setting is the part of the design that holds the main stones in place. Just like specific diamond shapes can make the stone appear larger, certain settings can give the illusion of a larger diamond.
For example, halo settings, which include a border of smaller diamonds around a larger diamond, are ideal for a larger-looking ring . High settings that prop the diamond up and off the finger can also make a diamond appear larger.
3. Consider Lab-Grown Stones
Lab-grown diamonds have many benefits — the most impressive is a lower cost. This is because they are made in a controlled setting rather than mined from the Earth, but they have all the same attributes and are considered a real diamond. So if you want to get close to the average carat size for engagement rings but don’t want to pay the $5,000 average, look to lab-grown diamonds before considering other stones or diamond alternatives.
4. Upgrade to the Average Size Later
You might also consider buying the engagement ring carat size you can afford now, and then upgrading to a larger stone later. You can always swap out diamonds in an engagement ring if you want a larger stone sometime in the future when it makes more sense for your finances. Many couples do this when approaching a major marriage milestone, like a 10th anniversary.
To do so, you’ll need to work with a qualified jeweler to ensure that the process is performed carefully, so as not to damage the ring itself.
5. Find the Right Carat Size for the Person Wearing It
Lastly, consider the size and shape of your or your partner’s finger. Thin, long fingers are often overwhelmed by large rings, and a smaller diamond is perfectly suitable. Because of this important factor, we suggest engagement ring shopping as a couple at least once, so you can get an idea of what your partner likes and what looks best on them before you actually buy a ring.
Average Engagement Ring Size FAQs
How Many Carats Is an Average Engagement Ring?
The average engagement ring is 1.7 carats and typically costs around $5,200.
What Are Some of the Engagement Ring Rules To Ditch?
Ditch rules about how much you need to spend or what kind of engagement ring style you need to buy based on what’s popular or traditional. The important thing is to buy a ring that you or your recipient will love and that you can reasonably afford.
What Is the Average Wedding Ring Carat Size?
Wedding rings are different and don’t follow the same standards for average carat size. While engagement rings typically contain a solitaire diamond or multiple diamonds, wedding rings are much more versatile. Some don’t even include diamonds at all and are just a plain band, while others contain a small channel of diamonds. However, wedding rings are generally much smaller in terms of diamond carat weight than engagement rings.
What Are the Best Engagement Ring Metals?
This really comes down to personal preference, but popular engagement ring metals include white gold, yellow gold, rose gold, and platinum. Gold is a more affordable option, while platinum is the most durable.
Is Carat Size Important for Other Gemstones Besides Diamonds?
Yes. While carat weight is most closely associated with diamonds, precious gemstones are generally also measured in carat weight.
Insure Your Engagement Ring with Jewelry Insurance from BriteCo
No matter your engagement ring size, jewelry insurance is a necessity. Comprehensive plans like those that BriteCo offers will protect that precious purchase in the coming years, no matter if it’s damaged, lost, or stolen.
And it’s an affordable option for priceless peace of mind. Engagement ring insurance typically costs 1–2% of the total value of the ring per year. So, for an average engagement ring size of 1.7 carats costing $5,200, you’d pay around $52 per year to insure it.
Get your individualized and quick engagement ring insurance quote from BriteCo now.
Related Article:
Best Custom Lab Grown Diamond Engagement Rings
How to Insure Engagement Ring Purchases for Lifetime Wear
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