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Try this FREE Engagement Ring Calculator
Get a customized report based on your diamond engagement ring preferences.
Your Report Includes:
- Best Overall value with options on Size, Color & Clarity
- Lab grown vs Natural diamond comparison
- Popular stone and style guide
To Get Started:
- Select your ring style preference, the shape of the diamond you’re interested in, and the type of metal you want for the mounting.
- Receive a customized Personal Engagement Ring Report right in your inbox.
- Learn what you need to know to and Share with your partner, family, and friends!
Should you buy a Lab Grown or Natural Diamond for your engagement ring?
The Pros and Cons of Lab Grown and Natural Diamonds
Natural Diamond
- Maintain higher resale value
- Rarity factor - a finite supply exists in the world
- Preferred by partner due to stone’s significance and million year history
- More Costly
- Identical physical properties compared to lab grown
- Environmental impact from earth mined diamonds
Lab Grown
- 30%-50% less cost
- More sustainable, using less energy and resources than earth mined
- Conflict-free - natural can occasionally come from conflict zones
- Potential metal inclusions
- Occasional Blue Tint
- No constraint on supply and a history of losing value over time
Follow These Proven Steps When Buying a Diamond Engagement Ring
- Don’t start with the price. Unless your engagement will be a complete surprise to your partner, think about what kind of jewelry she wears now and discuss what she envisions for a ring. If you are surprising her, be sure to consult friends and family for their opinion on what might best suit her preferences and personality.
- Consider what kind of diamond she would want and the carat weight (size) that she would feel comfortable with. Diamond center stones are among the most popular engagement ring styles and average sizes of these diamonds often exceed one to two carats. You can easily search on the internet to get a better idea of current styles, shapes, color, clarity, as well as mounting metals.
- Once you (both) have an idea of what kind of ring you want and its approximate size, you will want to get a Personal Engagement Ring Calculator report here to get an idea of how much money it may cost. Keep in mind this engagement calculator is meant to be only a general guide to price ranges and not necessarily a negotiating tool when you purchase the ring. There are many variables that affect your purchase decision and final price is a major factor but not the only consideration.
- Knowing approximate price ranges for your potential ring and various combinations, you will likely want to see your ring options in person. That typically means visiting a local jeweler, or retail showroom to speak with a knowledgeable salesperson and try on various ring styles.While online sales of engagement rings have increased in recent years, research shows that 60% to 80% of engagement rings are bought in person at a retail store.
Learn more about engagement ring preferences.
How Much Are People Spending on Diamond Engagement Rings?
In 2021 the average spending on a diamond engagement ring increased more than 6% over 2020 totalling more than $7,000.
Does the two months salary guideline for engagement ring cost still apply?
Spending two months’ salary on a diamond was once a rule of thumb guideline. So, if you earned $70,000 per year, you would expect to spend about $11,600 on an engagement ring. The two month rule, however, was basically a marketing tactic promoted by diamond producers who introduced it more than 70 years ago. Times have changed.
Your engagement ring spending strategy should encompass a number of budgeting issues including not only your salary or income but also the amount of debt you may have, and your monthly expenses should you decide to pay it over time.
For most engaged couples, buying an engagement ring is one of the bigger purchases of their lives up to that point. Learn more about how to budget for an engagement ring.
What engagement ring styles are most popular?
Our research shows that Solitaire and Halo were the most popular style engagement rings in 2021, with custom styles becoming more popular. Your style preference will have a major impact on how much you spend so it’s worth taking time to try out the different styles at your local jewelry store in person.
23% Solitaire
21% Halo
16.5% Side Stones
What diamond ring shapes are most popular?
Round diamond shape is by far the most popular, chosen by more than half of purchasers. That’s followed by Oval at more than 10%, and Princess at nearly 9%.
58% Round
10.6% Oval
8.8% Princess
5.3% Cushion
4.7% Pear
4.6% Marquise
4.3% Emerald
2.3% Radiant
Don’t forget to insure your engagement ring!
It’s fast, easy and affordable with BriteCo Jewelry Insurance
Frequently Asked Questions
What is the best way to pay for an engagement ring?
One of the best ways to pay for an engagement ring is to use a credit card with a 0% APR introductory offer. This will allow you to charge the ring to the card and pay it off over a period of time without having to pay any interest. You have to be sure you pay off the balance before the introductory APR period ends, however, so that you don't have to pay any interest. Otherwise interest can accumulate and result in adding substantially to the cost. You can also look into credit cards that offer cash back on purchases, which can help offset the cost of the ring.
Is a lab grown diamond engagement ring cheaper than natural diamond?
According to the data that we have collected at BriteCo, the price of lab grown diamonds is approximately 30–40 percent lower than the price of natural or earth-mined diamonds. In recent years, lab grown diamonds have an increasing number of followers and are popular with engaged couples, though natural or earth-mined diamonds still dominate the market.
What is the average engagement ring diamond size?
The average size diamond in an engagement ring is around one carat. However, the size of the diamond is not the only factor that determines how large it looks. The shape of the diamond is also a contributing factor. For example, a one-carat elongated diamond will look larger than a square shape. Additionally, the setting of the ring can also affect how big the diamond looks. A ring with a halo setting will make the center diamond look larger. Ultimately, it is up to the couple to decide what size diamond they are most comfortable with.
Is the BriteCo Personal Engagement Ring calculator free?
Yes, the engagement calculator is absolutely free. You receive a detailed report based on your diamond ring preferences via email at no charge.
What is the best way to protect your ring?
You should insure your ring for its replacement value, keep it clean and free of debris, and be careful not to wear it during activities that could damage it. You should also have it professionally cleaned and serviced regularly to maintain its condition.