Debunking the myth of the ‘right’ amount to spend on an engagement ring1 October 2020
Getting engaged is one of the happiest and most important occasions for a couple. That leap to the next step in the relationship, making life-long promises to start your forever. It’s a true celebration of your love for one another and is a completely unique and personal experience.
It can be hugely daunting to start the process of engagement ring shopping as there is a lot of pressure to pick the ‘perfect’ ring. Particularly in current times where social media has perpetuated a comparison culture, with celebrities showing off their huge, million-pound rocks.
However, choosing an engagement ring should be an enjoyable and most importantly a unique experience, which is why we are here to take some of the pressure off, with some insight into the true meaning of engagement ring shopping.
There are so many choices to consider before purchasing the ring; the type of stone, cut, clarity, carat and of course cost, so it is imperative that you do your research. There is so much information (often opposing) out there that it can be a real headache trying to work out what is best for you as a couple.
Everyone has heard of the ‘one month’s salary’ theory – that turned into three month’s salary, but this is just an old marketing ploy that originates from diamond makers trying to drum up sales at the start of WWII. The truth is, there is no value that you ‘should’ spend on a ring. Today the average person spends 3-4 % of their annual salary on a ring, but each couple is different, their relationships, preferences and circumstances are all different and your engagement ring is a reflection on this.
One of the best ways to ensure you are getting a fair deal for your diamond and to maximise on your budget is to consider the 4 Cs: cut, colour, clarity, carat. The most important thing when buying a diamond is to not compromise on the cut. A diamond that is cut well and correctly will appear brighter and bigger than it is, so you get more sparkle for your spend!
When it comes to colour and clarity there are a couple of things to keep in mind. In terms of colour, even though diamonds are graded on a D-Z scale, to those of us not inspecting diamonds through a jeweller’s loupe daily all you really need to know is ‘good’ and ‘not good’. With D-F being the highest colour grades, they are also the most expensive, but to the naked eye diamonds with a colour grade G-J don’t look very different, in fact opting for a H grade diamond will cost considerably less, but will still give a clear and bright look. The same thing goes for clarity, there’s no need to pay significantly more for a flawless diamond when a diamond with a SI1 clarity (Slight Included to the 1st degree) is identical to the naked eye, or ‘eye-clean’ as it is known.
Of course, engagement rings demand some form of investment as it is an embodiment of your love and will be worn and passed on for generations. Nevertheless, engagement and marriage is a journey which is so unique to each couple and there is no ‘one size fits all’. The most important thing to remember when budgeting for an engagement ring is, the amount you spend completely depends on the two of you as a couple!
In recent years it has also become more common for couples to choose their engagement rings together – so it really is up to you. The whole experience is unique to your love story and that is why we love creating bespoke pieces that embody the individual nuances that make the relationship yours.
At Custom & Co we are your personal goldsmith. Our team of dedicated and talented jewellers work with you to create pieces that embody you as a couple and is made to last.
It doesn’t matter how detailed or how simple you wish your piece to be, we craft our jewellery using modern technology which means nothing is beyond our limits. We want to bring back the sheer joy of getting engaged, which is why we offer a complimentary advice service to help guide your ideas and support you throughout the process, ensuring it is as enjoyable and stress-free as possible.
We also offer a ‘naked’ diamond service, so if you did want to create the ring together as a couple, we can provide a diamond that hasn’t be set into a ring to propose with. The possibilities really are endless.
What we do know for sure is that now that you have found your perfect partner, we can help you craft the perfect ring to match!