How much should I spend on a engagement ring?

Question

Hi-

I am in the process of buying an engagement ring and need some help on size. I am pretty comfortable with all of the other C's but I am trying to figure out how much to spend. I have heard all of the cliche things about 2 months salary etc, and still not really sure. I know the other 3 c's will play in the price, but I have a little flexibility in my budget.

So a few data points:

1. I make about a little more than $100K a year

2. Some part of me does not like the idea of buying a really large ring, I have put in my mind that I would buy a ring between 1.0 and 1.5 Carats.

3. I am little worried that 1carat ring will look small on her hands. She is a tall girl 5'10 ~ 145lbs with medium sized hands...(she says they are large but not so much:).

4. She comes from a wealthy family, but is very laid back and not so into flashy stuff. She is more conservative/timeless type of person. Though she does have diamond earrings that 0.7 Carat...a 1 carat ring might get dwarfed by the earrings.

5. We have spoken a bit and she definitely made it clear that north of 1 carat was a must and then she discussed some setting preferences.

6. I always had in my head that 1 carat and a really nice band was going to be my plan, now that seems a little small. I have been leaning towards rings in the 1.15 to 1.3 Carat range. There is a 1.15 stone I saw that I loved, but it was well below my budget. I could potentially spend more on the setting but that is not so financially prudent.

7. I have an initial budget of 12K but I could potentially go up to 15K or go lower.

8. I am meeting with one of her friends tonight to discuss settings and hopefully size.

Any help would be greatly appreciated.

Thanks,

Answer 1

i would get her one of these

Answer 2

If budget is not a big deal, I'd go with the higher carat but still try to balance out the quality. I am also 5'10 and my ring is 1.5 carats. A smaller diamond wouldve looked a bit strange. You can also go with a smaller diamond (1.3 or 1.25) and get a setting with diamonds on the band, like a pave setting. Also, the thicker the band, the smaller the diamond will look, so go for a 2mm band if you can. Hope this helps.  

Answer 3

You can just  take a look here.

http://cleverbuylady.com/Store-Directory...

Answer 4

Instead of worrying about size, go with a unique and special ring, maybe a solitaire in a triangle cut or something different or an antique. The ring should be special and it shouldn't matter the size!  

Answer 5

They say 2-3 months salary.

If you want my opinion on it, the value and size of the ring should have no play in the proposal or acceptance.

If it does, you have a gold digger, and Id throw her back ASAP.

I dont mean to discourage you about this, but she is making demands on ring size, that likely means you are going to have a long marriage of NEVER making enough, no matter how much you do.

Answer 6

The answer is spend what you can comfortably afford.

My fiance also makes six figures and he spent somewhere between 8 and 9 k for ring. He could have gone larger for same price, but I like that he went quality. It is hard to tell differences in carat sizes unless it is at least 1/2 a carat larger. Mine is 1.03 carat colorless center stone with other diamonds on platinum band, custom made. He looked at a 1.25 stone that he said he liked, but couldn't tell much of difference. Wedding band is also platinum and cost another 1600. So, you may want to budget that in to your price...

I think getting her the 1.15 or 1.3 carat would be fine. Obviously, you are educated, so you probably know that certain cuts are cheaper than others, as are certain metals.

My FI actually wanted to get me a sapphire ring since he hates the diamond industry. He probably would have spent the same, which meant I would have gotten a larger stone, but not ridiculously large.

Answer 7

Honestly, you're not gonna be able to tell the different between a 1.15 and 1.30. There wont big a huge difference. If you're going to spend 12k, I'd say stick with a 1.25 or 1.50 and get a VVS2, VVS1, IF or F diamond w/no less than H in color and a 'very good' cut. Those are the details that matter, NOT the size.

Answer 8

Congratulations!!!

To be honest, it seems like you should go in the 1.5 carat range or maybe 1.25 carats with some nice side diamonds. Your price range allows for it and your girlfriend has pretty much told you she expects it. Don't worry though, her friend will definitely know what to get her.  

Answer 9

Given all of your info, I would go with a minimum of 1 carat - but a little larger would probably be better.  You could also have a setting where there are diamonds on either side of the main stone to add a little more sparkle.  If that still isn't enough bling for her, then she could select a wedding band with diamonds in it as well...so part of the decision will still be in her hands.

Answer 10

Wow.  

Why dont you just take her out to see what she likes.  Have her select several rings from different places.

then you will be able to select with more knowledge on what she likes.

Its her finger, her style.  If you want her to wear it ever day, shouldnt she love the ring?  

Answer 11

You sound like a great guy, and have obviously thought this through.  This will be the gift you give her that will be the gift of all gifts.  She will show it to everyone, it will appreciate in value, and she will have it 50 years from now.  Spend the 15k on it.  You are a guy who really plans, and is smart with money.  You will have other opportunities to rein in the pocketbook, I would not pick this time to do it.  

Here is one thought- go to a jeweler and not to a jewelry store at the mall.  It's much classier to go to a real jeweler than to get your ring from someone with a nametag that says "Hi I'm Jen".  A jeweler becomes a resource for you in the future and for your family.  A real jeweler is a person who can help you pick out your diamond, then find a setting to put it in.  He is someone you trust to go back to have the ring cleaned and checked, the guy you go to when you want to buy her a necklace for her first Mother's Day, the place you go to find 10 year anniversary ring.  You can tell her that by going to the jeweler, you are thinking about your relationship now and in the future.  

Also- think as much about how you are going to propose as you have about the diamond, and you'll be in good shape.  

Answer 12

2 week paycheck up to a 1 month paycheck.

average is around $1,000

Answer 13

I would go with 1.20ct to 1.30 high color, high clarity with make of very good to ideal. Try here http://www.jamesallen.com/search_results... where you can actually see a real image of the diamond you want to buy.

Good luck