Engagement Ring Myths

Although we can dream, the price tag for many engagement rings isn’t within our budget, with many celebrities forking out an extortionate amount for their wedding day. There are many types of different engagement rings out there, all priced differently. Together with Angelic Diamonds, stockists of tension set engagement rings, we take a look at the various tiers of engagement rings and see which are the priciest.

What type of engagement rings are there?

You can be overwhelmed about the choice of engagement rings when you first begin looking, as after all, there is so much choice to choose from. Often, the appearance and cost of the ring are the two main considerations and these vary across the board.

Which metals are there to choose from?

Platinum, gold and silver are the most popular metals to choose from. Although they differ in price and appearance, it’s all down to personal preferences as to what you would like on your big day!

Gold is mixed with other metals which can change its appearance. This is because pure gold is too soft to be sold. Yellow gold for example, is pure gold combined with a small amount of silver and copper — giving off a warm appearance. White gold on the other hand is brilliant, it is pure gold combined with palladium and silver or with nickel, copper and zinc. It is a perfect backdrop for diamonds and complements them beautifully.

A highly durable metal is Platinum. Around the time of the war it was removed from the jewellery market as the resources were used for military use instead. It’s more expensive than gold as it is around 30 times rarer. Since it’s a strong metal, it is also the purest — often sold at 95% purity.

Rose gold is becoming increasingly popular and could be the perfect alternative for you. This is pure gold plus copper gives off a red tinge. The more copper that it is combined with, the redder it appears.

The most affordable metal is sterling silver. Similar to gold, pure silver is too soft to make into jewellery. Therefore, it is combined with copper or other metals to improve its durability.

Placement

The setting is also another factor which can determine the overall price of your ring. Some settings have more diamonds in or require more craftsmanship — for this reason they can be more expensive.

With a large centre diamond surrounded by smaller stones that sit on the band, a halo ring is a very popular choice amongst clients. Often the band is bejewelled too which can increase the cost. Another ring with multiple diamonds in is a three-stone engagement ring. These rings have three diamonds on the band, often the middle diamond is the largest — giving off a glitzy appearance.

A solitaire engagement ring seems to be the most popular style however, as it incorporates it traditional style in which a single diamond sites on a metal band and fits nicely in line with the ring. Tension-set engagement rings are similar as they often only have one diamond on the band. In these settings, the diamond is held in place by the pressure of the metal and it is designed to ‘squeeze’ the stone.

The shape

Another factor to consider when choosing your perfect ring, is the shape. With some being very self-explanatory such as an oval or a round diamond, some shapes have a deeper meaning.  

According to one US jewellery retailer the order of the most to least expensive shape of diamond is as follows (bear in mind this will vary between retailers) :

  • Round
  • Pear
  • Marquise
  • Heart
  • Princess

As you can see from above, one popular choice is a princess shaped diamond. This cut is where the face-up profile of the diamond is square and the side view is alike to an inverted pyramid. Cushion cut diamonds are a mix of round and square outlines and are considered to be more of an antique style. There is also a marquise cut which is quite a dramatic shape — like an elongated oval so it can appear bigger than it actually is.

What are the average spends?

The following are some of the famous engagement rings known to us – as you can see from the below, celebrity spends are extremely extravagant and you can achieve the look of your perfect wedding ring within a budget.

  • Taylor Kinney and Lady Gaga — a six-carat, heart-shaped diamond ring that cost around £400,000
  • Prince William and Kate Middleton — a twelve-carat sapphire, priced at around £400,000
  • Michael Douglas and Catherine Zeta Jones — ten-carats, close to £800,000

Research by insurance company Protect Your Bubble showed that couples are spending 19% less on engagement rings than they did 5-10 years ago. Now, the average spend on an engagement ring is close to £1,000. Also, 18% of people spend less than £500 on an engagement ring for their other half, therefore don’t feel as though you have to spend the traditional ‘two to three months’ salary’ on an engagement ring when it comes to spending.