How Much Does An Engagement Ring Cost?
“Everyone who sees her custom ring compliments it, and the smile on her face is priceless.” ~ Rishi S. / San Francisco, CA (Click Here to read more Client Testimonials)
Every day people ask me, “How much does an engagement ring cost?” This can be a difficult question to answer on the spot since there are variables to consider such as carat weight, diamond quality and the ring design, but I will explain some general pricing guidelines here.
The purchase of an engagement ring is much like the purchase of a vehicle. With so many options available, price ranges can vary drastically. The average American sells or trades in their vehicle within the first five years of purchase, so why do they elect to get so many upgrades? The answer is because most people understand the importance of getting what they want the first time to prevent regrets later on.
For example, since most Americans spend over 30 minutes a day in their vehicles, they want to make sure their vehicle will provide them with comfort, quality, longevity, and ease of use. So they do their research to make sure they get exactly what they want. These same principles typically apply to most engagement ring shoppers.
Generally, a gorgeous 1ct diamond on a pavé ring is around $10,000 and a gorgeous 2ct diamond on a pavé ring is around $20,000. This varies depending on how simple the ring setting is and how high quality the diamond is, but this is a general guideline for a beautiful sparking diamond set on a ring with pavé diamonds.
The final price of the ring completely depends on the quality of the diamond you choose (color/carat/clarity/cut). The ring setting is pretty much a fixed price, whereas the diamond is what makes the ring price fluctuate.
What I always ask clients is, “Do you have a max number that you prefer not to exceed for the entire ring?” The price of a diamond is based on many factors and I will source the best/largest diamond that fits within your desired number. Vanessa Nicole Jewels doesn’t keep an inventory of diamonds because this allows me to seek out the best possible diamond based on your desires rather than be forced to just sell what I own. Fire & brilliance are absolutely #1 when it comes to searching for the perfect selection.
The Ring Setting
The price for just the ring setting varies based on several aspects: platinum vs. gold. Mass-produced vs. custom made. Mid-quality diamonds vs. high quality diamonds. Some people think they don’t need to spend much on the setting, but going cheap on the ring setting is not a great idea considering it is the house that will hold your center diamond forever.
You wouldn’t want to build an actual house with shotty craftsmanship & low quality materials because it will break down quicker, right? Same thing with an engagement ring. I know a repair person who makes six figures a year JUST doing repairs. Personally, I can’t even remember the last time one of my custom rings came back for a repair. That’s because it was made right upfront.
People understand that the engagement ring is going to be worn everyday. They also know picking the right option the first time is critical to ensure maximum enjoyment with minimum maintenance. Most shoppers elect to get the engagement ring that will make them happiest in the long-run even if it’s a bit more than they initially planned on spending.
Unfortunately, some people only focus on the initial price of the engagement ring with the only goal of finding the “cheapest” jeweler, therefore sacrificing low-maintenance, quality, aesthetics, and comfort, which inevitably leads to regret, especially considering this is her ONE important ring.
Final Thoughts on the Costs of Engagement Rings
Most people don’t know what to expect in terms of costs when they begin looking at engagement rings, so it’s natural to initially be shocked by the prices. Ultimately though, you’ll get a feel for what is realistic within certain price ranges.
At Vanessa Nicole Jewels we constantly scrutinize our rings and processes to eliminate any potential problems and make life easier for you. You want to enjoy a problem free ring for years to come and it is our goal to make that a reality. For more information about custom engagement rings visit www.VanessaNicoleJewels.com
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