If you’re asking yourself, “how much should an engagement ring cost?”, you’re not alone. It’s one of the first questions people ask when they start engagement ring shopping—and one of the trickiest to answer. Between outdated “rules,” social media pressure, and a growing range of price points, it’s easy to feel overwhelmed before you’ve even seen a single ring.
Let’s clear the air. There’s no magic number, and no one-size-fits-all answer. What matters is finding a ring—and a price—that feels right for your life, your values, and your financial situation.
You’ve probably heard it: “Spend three months’ salary on the ring.” That idea wasn’t born out of romance—it was a marketing campaign. Literally. It started in the 1930s to boost diamond sales during the Great Depression, and was later popularized by De Beers to encourage people to devote two to three months’ salary to their engagement ring budget. The truth? Most couples today don’t follow it, and with good reason.
Instead, people spend what feels right for them. We’ve seen beautiful, deeply personal rings created at $3,000, $50,000, and everywhere in between.
Your centre stone will have the biggest impact on the cost of your engagement ring. Carat weight and diamond colour typically play the biggest role in price, followed by clarity, cut and shape (round, oval, emerald, etc.). You may be surprised by the impact one colour grade can have on the cost of your ring.
The ‘right’ size stone is very personal and can depend on factors like personal style and finger size. A half-carat can look stunning in the right setting, while a two-carat might be exactly what someone else is dreaming of.
The type of metal—yellow gold, white gold, rose gold, or platinum—will also impact cost. Platinum tends to be a more expensive option due to its density. For the same amount of material required to make a ring, platinum will weigh about 10% more than gold. If you’re considering a bold gold band, 14K will be a more economical choice than 18K gold.
Also remember that gold is a commodity and its price fluctuates over time. In 2025, gold hit an all time high, trading at $3,000/oz.
Design complexity and craftsmanship matter too. A minimalist solitaire design is generally the most affordable option. Designs that feature accent stones like a halo, pavé diamonds or a three-stone detail will increase the cost.
If these details are important to you or your partner, consider reducing the size of the centre stone to balance out the added expense of accent stones.
Lab grown diamonds are chemically and visually identical to mined diamonds—and significantly more affordable.That means you could opt for a larger stone, or simply spend less, while still getting something breathtaking.
Many couples use the savings from their lab diamond rings toward expenses related to their wedding, honeymoon or just the realities of today’s expenses.
A “reasonable” price is whatever works for you. Some clients come in with a specific ring budget and want to stick to it. Others care more about diamond quality or design details and are open to adjusting.
Our benchmarks for a solitaire style engagement ring start at:
We always approach diamond curation working backwards from your budget. That way you don’t fall in love with something, only to find out that it’s out of reach.
We’ve helped couples create the perfect engagement ring for their vision across a wide range of price points. It’s never about how much you spend—it’s about what feels right, what fits your story, and how the ring shows up in your life every day.
Take a step back and consider your personal financial situation. Are you also planning a wedding? Buying a house? Paying off school? These things matter.
Some partners want the biggest stone possible. Others would rather opt for something modest and put more money toward future adventures. There’s no right answer—just good conversations.
Lab grown diamonds give you flexibility. You might choose a larger carat weight, or spend less while still getting a ring that sparkles like crazy.
But if you or your partner really connect to the history an earth mined diamond offers – that feeling might outweigh the savings.
The perfect ring isn’t just about diamonds—or dollars. It’s about something far less tangible and far more lasting: meaning, emotion, and the care behind every detail. This is a symbol of commitment. A reflection of your relationship. A piece of jewellery that holds weight, not just in carats, but in what it represents.
We work closely with you from the first conversation to the final polish. Some clients come in with a clear vision. Others have no idea where to start. Either way, we’re here—to guide, to clarify, to collaborate. Whether it’s an ornate custom designed diamond engagement ring or a simple ceremonial band, we’ll help you compare styles, filter options, and make informed decisions to arrive at your dream ring.
Whether you’re just exploring ideas for unique engagement rings or ready to get started designing custom engagement rings and wedding rings, we’ll meet you where you are.
Book your phone consultation to talk through your ideas and let’s begin designing something real.
