How much to spend on an Engagement Ring?

[DaintreeDream]

DP and I have decided that we would like to choose my engagement ring together. Something that we both like. The only thing is, he wants to spend ALOT of money on a ring and I want to spend under $1000-, 2 reasons.

#1 - I do not feel comfortable carrying something that costs over $1000 around on my finger.

#2 - I could think of better things to spend the money on, especially since I have soooo much jewellery and wear none of it except the same earrings everyday (I know that THIS ring will be special and I will not take it off but still.)

So my question is how much do you think should be spent on an engagement ring? and are there any jewellery shops that you recommend?

[Aimz]

Only spend what you are comfortable spending. Don't decide on the ring based on price - if you fall in love with a ring that is $800 then your DP shouldn't say no because it's not expensive. On the other hand, if you find a ring that is over $1000 that you really love and your DP is happy to pay for it then you should get it.

You don't get an engagement ring every day - it will be the most sentimental and special piece of jewellry that you own - so make the most of it! My DH used to manage a Michael Hill store and they are always fantastic and very helpful. They have interest free deals and also reduce the price if you pay cash so don't be afraid to haggle. You also get lifetime jewellry cleaning for free! They have heaps of "sets" which include the wedding band.

I'm a jewellry lover from way back so I'm probably not the best person to ask - we spent a fortune on my engagement ring, wedding ring and wedding jewellry!

[Lisa]

I think you should look at what you want first before deciding on a price.
I had a certain style in mind when we looked at engagement rings. The one I wanted was a reasonable price, but not as much as we could have spent, but that was because I had my eye on a wedding ring that cost the same amount.
My sister got an engagement ring perfect for her that was a lot cheaper than her DF was planning on also. It really is about what is right for you.

ETA - You can always get your ring insured. All mine are insured. If it is under $2k(?) you can put it on your contents insurance.

[kristy J]

Only spend what you are comfortable spending. Don't decide on the ring based on price - if you fall in love with a ring that is $800 then your DP shouldn't say no because it's not expensive. On the other hand, if you find a ring that is over $1000 that you really love and your DP is happy to pay for it then you should get it.

i agree.

my ring was my mums she and my dad are divorced and i just loved it so much she said i could have it. i had it valied for insurance its worth about $2500 if we bought a ring we prob would have spent about $1500 my wedding band was $700.
my ring is not a huge dimond but good quality. make sure you get quality over size it will make it better when you pass it on to your children.
i only have boys so i hape to have a gran daughter some day so i can give it to her....

[sneakysparkle]

The "recommendation" these days is 2-3mths wages (who comes up with these things?!) but I say go with whatever youre comfortable with.
A few of things to consider:

* Your DP will want to be proud of whatever ends up on your finger
* It's something of great sentimental value to pass on to your DD
* You dont HAVE to have a diamond engagement ring! You can still get something gorgeous, but less expensive. I have a pink sapphire and LOVE it, and get comments all the time
* You do have to LOVE it - I have a couple of friends who were a bit blah-zay (sp?!) about their rings at time of purchase and have since regretted what they got - one actually got a new one a couple of years later!
* Most jewellery stores have massive MASSIVE mark-ups - find something you like and then get prices of getting it made, you can save a fortune.

Thats all I can think of atm - all the best with what you decide!

[Indadhanu]

Well someone once told me don't spend too much because if you're ever in financial trouble and your ring is worth a nice amount of money its the first to go (from a woman who had to sell her engagement ring). But spend enough so that its nice and it'll last (no use getting something cheap and flimsy that might warp or split).

Thats just my opinion anyway... I'm pretty practical though lol, and not the funnest (is that a word? lol) person to shop with hahaha!

[briggsy's girl]

i agree with the other ladies - go with something you love, NOT the price tag on it! we spent under 1000 on mine (engagement and wedder), simply because we both liked the rings, not because we were looking at a particular price range. we looked at heaps, and nothing caught my attention! i know we could have gotten something similar with larger stones, and paid a whole lot more for it, but to be honest, i'm like you - i like simple, and was happier with the smaller stones!

i honestly think the rules of what the guy is supposed to pay are archaic! who CARES about the dollar value - it's about the sentimental value!

[Phteven]

I spent a lot less on my ring than we had budgeted for because I looked at heaps and they were all too boring and when I finally found one we both loved it was relatively cheap.
I agree that it doesn't need to be a diamond - the diamond convention is nothing more than a clever bit of marketing by deBeers.

[Kitt3n]

the diamond convention is nothing more than a clever bit of marketing by deBeers.

SOOOO0 true! Diamonds are actually MORE COMMON than the amythest!

DH wanted to get me a diamond at one stage - I told him that I dont want to be just as special as everyone else.

I have a lovely yellow sapphire that takes everyone's breath away.

As far as the cost is concerned - can you put a price on love? Does it really matter if it cost $100 or $10,000? Who cares for the cost - it is what it means that is the important part.

[satya]

As little as possible. You will appreciate the extra money saved when you pay for your wedding.

[cocobambino]

My ring has a value of 1600 DH told me to choose what i love so I did, just so happens that my mum worked at that jewllers and we got 15% off from her plus another 30% coz the ring was on sale

[~Aveta~]

i chose an antique reproduction with rubies and seed pearls, which is a flat filigree ring i can wear all the time. i wanted bezel-set stones (rubover setting) for the sheer practicality - and i do wear it ALL the time, except for gardening. the pearls had to be replaced and we chose citrines - but i knew that would happen. i also didn't want a conventional ring, or another wedder when we marry. and i'm really happy with my choice, which cost us @ $400.00 from a manufacturing jeweller in Coffs, What Women Want (and yes they have a website, DF designed it!) i didn't want to be worrying about losing an expensive piece, and i didn't want diamonds due to the history of forced labour associated with them. just my quirk...

i think if you assess the "style" of your other jewelry, and choose something fitting in with your personal look, you won't regret it. and it's not the expense, it's the meaning of the gift. take it from me who was married before to a man who "forgot" to organise a ring for our wedding - and never made good on it!! eighteen years later i divorced him and still had never had a ring, lol. and he wonders why i left?