You might dream of owning, or proposing with, an engagement ring that’s just like the celebrities’. But, unfortunately, the price tag isn’t within many of our budgets. There are many types of different engagement rings out there, all priced differently. Together with provider of diamond rings, we take a look at the various tiers of engagement rings and see which are the priciest.
What are the different types of engagement ring?
If you’ve been shopping for a ring, you’ve probably noticed that there is a wide variety of types out there. It can get overwhelming if you’re in the process of choosing one. Often, the appearance and cost of the ring are the two main considerations, and these vary across the board.
Considering the shape of your diamond
Is there a certain shape of diamond that you’d prefer? Some are self-explanatory such as an oval or round diamond however others may take some explaining.
Most people opt for a princess shaped diamond. But what is this? 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.
One US jeweller revealed the order of the most to least expensive shape of diamond (bear in mind this will vary between retailers):
Deciding on the choice of metal
Of course, it’s up to you what metal you prefer. Platinum, gold and silver are the most popular metals available to choose from however they differ in price and appearance.
Did you know that pure gold is too soft to be sold? Therefore, it is mixed with other metals which can change its appearance. 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.
One metal that is highly durable is platinum. In fact, it was removed from the jewellery market around the time of the war 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.
Are you after something different? Rose gold could be the one 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.
Another metal that catches a lot of peoples’ eye is sterling silver. It is the most affordable out of the others. 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.
Halo rings have a large centre diamond surrounded by smaller stones that sit on the band. 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.
Solitaire rings are very popular. It is a traditional style where a single diamond sits on a metal band and fits nicely with a wedding 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.
How much do celebrities spend?
We know the following:
· 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
According to research, 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. Research by insurance company Protect Your Bubble showed that couples are spending 19% less on engagement rings than they did 5-10 years ago. When it comes to spending, don’t feel as though you have to spend the traditional ‘two to three months’ salary’ on an engagement ring.