There are relationships that enter the realms of married life without noticeable transition, after many years of living together. There the question of getting married is settled before the official proposal is done. They also have rather practical approach to engagement rings. Most of the time there is a cheap engagement ring substitute and the promise of a proper diamond ring when things get better. If you are however making an official proposal to your loved one to be your partner for the rest of your lives cheap is the last impression you would like to leave.
As I mentioned many times, there are no cheap engagement rings. There are cheap engagement ring substitutes. Appearing cheap with your proposal is a recipe for a disaster. On the other hand with the current prices of diamonds and precious metals and the weakening of our South African Rand, the prices of a substantial engagement ring seem very much out of reach. Planning and spending wise your dedicated budget is the key.
How much is the minimum
Obviously when it comes to gold and diamonds there are no miracle sales, and R 1000 will get us nowhere. I would estimate that at the current rate of R +/- 14 per dollar the minimum spent on a diamond ring that does not look cheap should be around R8 200. Don’t forget that over R 1 000 from this amount goes to the taxman, so the actual value here is 7200. This will buy a decent quality .20ct (3.8mm in diameter) diamond, set in a classic solitaire 9k white gold setting. It is delicate but it doesn’t look cheap.
What is the average
I have been asked many times what is the average budget of an engagement ring. Within a larger frame it is between 16K and 25K but often goes to 30-32K if the budget is stretchy. Budgets of 50k and more are rare. Of course I am referring to customers that buy online. I don’t what to elaborate on prices for the same engagement rings in brick and mortar stores. You have to check and compare the prices yourself. I still remember a guy coming to see me in my studio after getting a quote in the shopping mall. After I gave him the price he asked: “is this including the diamond? “
Since 20 – 25k won’t buy you a huge rock it is time to implement the wise planning and spending mentioned above. It starts with choosing the right balance between the 4Cs to get the best size diamond for your budget and then set it in a design which is making it look much bigger than it is. Of course her style choice must be taken in consideration but this is where an experienced designer can step in.
Cheap engagement ring is not the answer. Find out how you can make a really impressive ring with small budget and exceed her expectations. Just give us a call.