How Much Should I Spend On An Engagement Ring?

When grooms-to-be are preparing to get down on one knee and propose that life-changing question to their true love, one of the most common queries we hear is, "How much should I spend on an engagement ring?" 

There is no one answer. Unlike the price of replacing a lightbulb, engagement rings are highly personalized and come with vastly different prices. This article will provide some guiding considerations to help you answer this question. 

In Singapore and Hong Kong, where age-old traditions cross paths with modern-day trends, figuring out the right price for an engagement ring can be challenging. Through this blog, we hope to offer you some guidance on the various factors that influence the prices of diamond engagement rings in HK and SG, from stone quality and flawlessness to setting styles and metals, helping you make an informed choice. Whether you're after timeless elegance or more of a modern burst, we'll provide the information you need to help you gain a clearer idea of how much it may cost to purchase the perfect ring that reflects both your love story and your budget.

If you're unsure where to start when figuring out how much to spend, it may be worthwhile looking at the average price in your country (Singapore or Hong Kong) for an engagement ring. A common unwritten rule many people follow is the three-month salary guide. During the Great Depression, when diamond sales struggled, a leading diamond company called De Beers looked for a way to improve the situation. They launched a campaign marketing diamonds as the strongest love symbol. Buyers were encouraged to spend three months' worth of salary when purchasing a diamond engagement ring. 

Lifestyle Considerations

One of the most important factors to consider when looking at potential engagement rings is how comfortable your fiance will be wearing such a diamond on a day-to-day basis. If your wife-to-be's career is hands-on and physical, you may like to consider a setting that is more durable over time, such as a platinum split-shank band.

Another worthwhile consideration is how the ring may complement her personal style and suit her social circles. If she prefers understated elegance, a more "clean" setting style will suit her more. However, if her fashion sense leans toward the bold and glamorous, Maybe consider a fleshy setting with side stones or more diamonds around the main stone to go with that designer bag and luxury outfit. Matching the ring to her lifestyle and taste will ensure it's as perfect for her as you.

A Value Guide: The 4 Cs 

A common method also used to better understand a diamond's value is called the 4 Cs. This consists of a diamond's cut, color, clarity, and carat weight. If you want to read more about the 4 Cs, click here to visit another article, and we will dive into this in more detail.

 Although there are multiple ways to gauge how much you should spend on an engagement ring, there is no exact right amount as everyone has different expectations, as well as different budgets available. 

We encourage you to arrange a consultation in our Singapore or Hong Kong shops, where we can discuss exactly what type of engagement ring you are looking for and options that will work for you. 

We are not some large chain store, so when dealing with us, you communicate directly with our diamond experts and managers Mori, Cayle, and Sharon. 

Co-founder Roi Sheinfeld is always in the picture for every project and is the only one who gives the final approval and oversees quality control for each piece of jewelry and all diamonds at our M&B shops. 

We will work alongside you to find the diamond engagement ring you want that also fits your needs.