Dispelling the Myth of the Engagement Ring – My Dreamality

Diamond gold engagement ring

When we see celebrities sporting the latest and greatest engagement rings out there, we’re all too aware that they are beyond what we can afford.

Engagement rings come in all shapes and sizes, and their prices can vary drastically. Together with Angelic Diamonds, stockists of diamond engagement rings, let’s have a gander at an assortment of different engagement rings and see which are the priciest.

Types of engagement ring

The sheer number of types of ring can make selecting one a bit daunting. Often, the appearance and price of the ring are the two main factors to consider. And these vary considerably.

Metals

The most popular metals for engagement rings are platinum, gold, and silver. There’s really something for everyone and it’s all down to personal preferences!

Platinum is a highly durable metal. It was actually taken off the jewellery market during WW2 as it was needed for military purposes. It’s more expensive than gold and about 30 times rarer. And because it’s a strong metal, it’s also the purest — often sold at 95% purity.

Pure gold is too soft to be sold so is mixed with other metals, which can really 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. Essentially it’s pure gold mixed with palladium and silver, or with nickel, copper, and zinc. It provides the ideal base for diamonds and complements them wonderfully.

If you’re looking for something a bit different, rose gold could perfect for you. It’s pure gold plus copper and as we know, gives off a gorgeous red tinge. The more copper it’s combined with, the redder it looks.

Sterling silver is another very popular metal. Its affordability and beautiful simplicity are just what many are looking for. Similar to gold, pure silver is too soft to make into jewellery. So it’s combined with copper or other metals to enhance its durability.

Setting

A ring’s setting can significantly determine its price tag. Some settings have more diamonds in them or need more craftsmanship, which of course makes them more expensive.

Solitaire engagement rings are the most popular on the market. Their traditional style, with a single diamond sitting on a metal band, look great with a wedding ring. Tension-set engagement rings are similar as they often only have one diamond on the band. The diamond is held in place by the pressure of the metal and it is designed to ‘squeeze’ the stone.

Halo rings have a large centre diamond surrounded by smaller stones that sit on the band. Often the band is bejewelled too,  which can push up its price. Another very popular ring with multiple diamonds is the three-stone engagement ring. It has three diamonds on the band, with the middle one usually being the biggest. You’ve probably seen one before as they give off a particularly glitzy look.

Diamond Shapes

Once you’ve selected your diamond, you need to choose its shape. Some are well-known, like oval or round diamonds. But others need more explaining.

A princess shaped diamond, for example, is a popular choice. This particular cut is when the face-up profile of the diamond is square and the side view looks like 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. It basically looks like an elongated oval, which can make it seem bigger than it actually is.

Bear in mind that diamond prices can vary between retailers. According to one US jewellery retailer, the order of the most to least expensive diamond shape is as follows:

  1. Round
  2. Pear
  3. Marquise
  4. Heart
  5. Princess

Average spending

Celebrity spending is always extravagant, just as you’d expect!

Check out some of these famous celebrity engagement rings:

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, also priced at around £400,000.

Michael Douglas and Catherine Zeta-Jones — ten-carats, close to £800,000.

When it comes to price, don’t feel that you have to spend the traditional ‘two to three months’ salary’ on an engagement ring. It’s really about what you want, not what you think is expected. Research by insurance company Protect Your Bubble has shown that couples are spending 19% less on engagement rings than they did 5-10 years ago. These days, the average spend on an engagement ring is close to £1,000. And 18% of people spend less than £500.

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