Why Are Engagement Rings Expensive? (7 Reasons)

Last Updated on July 5, 2022

If you’re getting married, you already know that your engagement ring is one of your most valuable assets. It will also be your fiancée’s most valued possession.

It’s important to understand the specifics of what makes a fantastic engagement ring before making an investment. What distinguishes an engagement ring from a wedding band to make it more costly?

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Why Are Engagement Rings Expensive?

There’s a lot more to an engagement ring price than meets the eye, so let’s have a look at some of the reasons they might be so pricey.

1.The Size Of The Diamond

Big diamonds referred to the amount of money a guy had, so naturally, bigger diamonds are more costly. The carat count of the diamond influences the overall cost of the stone because it determines how many carats it weighs.

It has also become a status symbol to have a big diamond because the size of the diamond is supposed to indicate affluence.

Jewelers are well aware that men would pay a premium for bigger diamonds to indicate they could financially support their wives.

2.The Number Of Stones

Engagement rings usually feature one major precious stone and, less frequently, additional precious stones. The cost of an engagement ring is determined by the number and type of diamonds. The more stones there are in an engagement ring, the higher its value.

Adding more stones, of course, adds to the total carats in the ring. Since jewelers charge higher prices for larger rings, they must weigh more.

Because of design modifications that deviate from the traditional solitaire diamond in the middle, it has become typical for rings to include additional stones on the side.

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3.Carat Weight Of The Diamond

This is why engagement rings are so costly. Prior to selling diamonds, jewelers measure the stone to determine how many carats it weighs.

A full carat increases the stone’s value considerably. The diamond and the band most often share the same carat.

If the two rings have different carat counts, the one with more carats will wear down the other. Some people like to show off their engagement rings by using a hefty stone, however the heavier the diamond, the greater expensive it is.

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4.Material Of The Band

The most popular engagement rings are made of 10 to 18 karats white, yellow, or white gold. Gold is a costly and precious material with a wide range of possibilities when selecting jewelry.

The ability to choose from a variety of precious metals, such as 18 carats or 14 carats, is one of the reasons why gold is so costly. The purity of gold is measured in karats.

Gold has long been one of the most valuable natural resources, having been used in numerous conflicts, power, and riches throughout history. It’s no surprise that gold remains one of the most costly materials in today’s economy.

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5.Clarity And Brilliance Of The Diamond

Diamonds have a grading system that ranges from clarity, or how well you can see through the stone. A flawless diamond is the highest clarity grade, followed by internally flawless.

When someone says “10x” in the diamond-buying world, it usually means that a diamond has no visible flaws under 10X magnification. When selecting an engagement ring, many individuals choose for flawless or internally flawless diamonds.

Flawless diamonds are costly since they are far more difficult to come by than diamonds with minor flaws. The fact is that the majority of these flaws are undetectable to the naked eye.

6.Jeweler’s Overhead Costs

When you buy an engagement ring, a large portion of the cost goes to the jeweler’s overhead expenses such as labor, electricity, rent, supplies, and more. If you pick an in-person jeweler over an online vendor, there’s a chance the ring will be more costly.

This is due to the fact that you are most likely paying for a well-known jeweler’s stellar reputation and eye.

Many jewelers have distinct sorts and varying social standings, therefore the brand name of your jeweller may also affect the cost of the engagement ring.

7.Mounting Of The Ring

Because of the time-consuming procedure, mounting the ring, or connecting the stone to the band, is rather expensive. Gold is a precious yet delicate material that requires a more complex manufacturing process than other metals such as stainless steel, tungsten, carbide, or cobalt.

The procedure of setting a engagement ring is time-consuming.

After examining the diamond (or whatever stone you pick) and attempting to utilize the mounting to bring out that stone’s finest features, the jeweler must select from several mounting options.

The mounting is made up of several parts such as the attachment point (where the gemstone is connected to the band), the metal used for the installation, and lighting.

Jackie Palmer is a Houston-based coin journalist and fashion enthusiast. She joined Jewels Advisor’s content team after years of experience as a content strategist, managing blogs and social channels for local stores. Jackie mostly collects and studies US coins produced during the 20th century and over the years, published hundreds of articles for multiple coin publications.