my boyfriend got me an engagement ring that costs 1,500, I haven't seen it yet. He's been making payments on it for months and I accidentally found out. I thought this was reasonable but my friend said hers cost way more. I don't really care about cost but I'm curious to know what the standard is for a beautiful engagement ring. Is mine too cheap or did he pay the standard decent price
Most Helpful Guy
General rule of thumb for retail diamond engagement ring, mall jeweler: $500 per quarter carat, SI2, G-H color. So, at $1500, look like the average would be about .75 carats at SI2, G-H color. Add another $250 if they tell you it is certified.
Average ring type vary depending on location; in large metropolitan areas, the standard is 1 to 1.5 carats on average. In rural or more rustic environments, anything from a quarter carat to a half carat is normal.
Here's the rule of thumb I used to tell folks when I owned a jewelery store in Fairfax, VA -- buy cheap. You are young, and no one really cares how big your ring is. Instead, save your money and use it for savings or as part of the downpayment on something else. When you both have good jobs that pay well, then you can upgrade to your dream ring. As a point in fact, most people can't tell the different between half a carat and three quarters of a carat, and fewer even know the difference between D color and F color. The people who do will respect your wanting to save money to buy something really nice later.
Also, the size of the stone is COMPLETELY secondary to the cost. Quality is much much more telling. A .50 carat diamond that is D color and VVS grade, will be more expensive than a 1 carat stone that is I-J color and I clarity. Size is good, but quality is MUCH more important for pricing.
And the final point -- diamonds are a totally fake market. They are neither rare nor particularly hard to come by (hence, everyone in the US wearing a diamond engagement ring). Like any gemstone, good quality stones are "rarer" than junk, but diamonds as a whole are no more "rare" than any other gemstone; in fact, the most "rare" gemstone is a red sapphire (we call them rubies) which sold for over a $1 million per carat in the mid-2000's. It may be even more expensive now. Diamond rings have ZERO resale value. Never view this as an investment...
Hope this help shed some light on ring buying, and the value of jewelery. Ultimately, the value of any jewlery is strictly tied to the worth the wearer places on it...be it gravel or diamonds, if you love it, it is priceless.