Budget Guide

Diamond Cost

We understand that each client has a unique budget, and we are dedicated to helping you find the best options. Learn more how diamond costs will affect your budget.

Speak to an Expert

About Diamond Cost

Finding high-quality diamonds for engagement rings can come at various price points ranging from a few hundred to hundreds of thousands. However, the decision of how much to spend on an engagement ring is entirely personal. The beauty of designing a personalized engagement ring is that it allows you to find the perfect price point that suits your budget.

How to Get The Best Diamond for Your Budget

If you're looking for the perfect diamond and ring design that fits your budget, there are several options to consider. You can compromise on certain diamond qualities or explore the possibility of lab grown diamonds. We've gathered some helpful tips to help you get the best value for your engagement ring budget.

Though the cost of the ring setting remains constant, the price of diamonds and gemstones can vary widely, allowing you to tailor your ring according to your budget. To get started, choose a setting type, and subtract the cost from your total budget to begin your search for the perfect center stone.

Sierra Pear Diamond Halo Engagement Ring with Tara Wedding Ring | Lisa Robin

Tip #1

Consider a Lab Grown Diamond

The introduction and acceptance of lab grown diamonds have had a significant impact on the costs of engagement rings. While the average cost of an engagement ring in the US is a little over $5,000, your budget may vary depending on your preferences.

Several factors can affect the price of your ring, such as the type of metal, whether it's gold or platinum, and the stones used - including lab-grown diamonds, which give you the same traditional diamond look and feel at a lower cost.

About Lab Grown Diamonds

Tip #2

Consider Diamond Shape That Appears Larger

When it comes to diamonds, those with a large spread tend to appear bigger and cover more of the finger. The oval, pear, and marquise shapes are among the largest appearing diamonds. Interestingly, most diamond shapes appear larger than the popular round diamond, which is also the most expensive due to its unmatched sparkle.

What is Diamond Shape?

Oval, Round, and Princess Diamonds on white velvet | Lisa Robin

Diamond Color with Loupe and Tweezers | Lisa Robin

Tip #3

Consider Diamond Quality

The carat, clarity, and cut of the stones also determine the final price of your diamond. Understanding these details can help you create a realistic budget. Use our guide to help.

Learn About Diamonds

Tip #4

Consider payment Options

Ultimately, the decision of how much to spend is up to you and your personal financial situation. Some may choose to save a substantial amount, others may opt for financing. Consider your budget and best option for payment and make your decision from there.

Lisa Robin Financing Options

Engagement Ring on Hand During Marraige Proposal | Lisa Robin

Advice for Selecting the best diamond quality for your budget

Choosing the right diamond can be overwhelming, but it doesn't have to be! Let's break it down into four key factors: cut, colour, clarity, and carat.

1. For the best value and sparkle, go for an Excellent cut. This is only applicable to round diamonds, but Very Good is also a good option. Lower grades will reduce the price, but at the cost of the diamond's shine.

What is Diamond Cut?

2. Diamonds are graded from D (colorless) to Z (light yellow-brownish). Ideally, aim for D-F for a clear and bright stone, or G-H for a more budget-friendly option. Lower grades may save you money, but the diamond will appear less bright and white.

What is Diamond Color

3. Diamonds have natural imperfections called inclusions. More inclusions mean a lower price, but many are too small to see with the naked eye. For a balance between flawless and included, go for VS2-SI1. This way, you can save on your budget without sacrificing too much quality.

What is Diamond Clarity

4. While carat weight is important, don't forget to prioritize the cut and color grades. These two factors determine the diamond's beauty and can accentuate its size. Remember, carat is a weight not size. Check the actual diamond size in mm to compare diamonds of similar carat weights. In the end, a large but poorly cut or yellowish diamond won't sparkle as much, so it's better to compromise a bit on carat instead.

What is Diamond Carat