How Much Should You Spend on an Engagement Ring

Congratulations! You’re about to propose to the one person you want to spend the rest of your life with! Picking out the engagement ring is a big decision that requires a lot of thought and consideration.

You probably have a lot of questions about finding the right engagement ring. The first being what you should pay for an engagement ring. That’s a tough question, and there’s no one right answer.

The good news is that many people wonder what the price of an engagement ring should be, so you aren’t alone asking the question. Here is a guide that will help you understand how much to spend before getting your engagement ring.

Average Price of an Engagement Ring

In Malaysia, the average size of an engagement ring is 0.4 carats, which, on average, costs RM6,065.25. This is lower than the average of other Asian countries.

The average in China and Singapore is 0.5 carats for RM8087.00. While Hong Kong pays, on average, RM16,174.00 for 0.7 carats.

These prices account for all engagement rings sold. But there are so many ring styles available that it’s better to break the price down by category rather than comparing all rings to each other.

No two rings are alike; therefore, no two prices will be the same. You will get a more accurate price if you find the styles of rings you and your partner like and compare them to each other.

What Affects the Cost of a Ring?

To understand how much engagement rings cost, first, you should understand what factors affect the price. What seems like a small detail on a ring can still cost you a lot.

Here are the features and factors that affect an engagement ring’s price:

Cut

The cut of the diamond is often considered the most important of 4Cs. Cut refers to how light reflects and interacts with a diamond’s facets. The best cut diamonds have the highest best symmetry and proportions.

Poorly cut diamonds are dull no matter what the grades of other factors are. Well-cut diamonds have the brightness and sparkle that most people look for in an engagement ring.

Brilliant cut diamonds are the most expensive since they offer the most sparkle. Other types of cuts include step cut and rose cut diamonds.

Clarity

Clarity measures how pure the stone is, which is telling about how rare the diamond is. Higher clarity diamonds have no inclusions (internal flaws) and no visible external imperfections.

Diamond sparkle is affected by the clarity. Less flawless diamonds with more inclusions won’t reflect as much light. Diamond clarity is measured on a scale with the highest grade “Flawless” to the lowest being “Included”.

Flawless (F), Internally Flawless (IF), Very, Very Slightly Included (VVS1 and VVS2) are considered the highest quality of diamonds and come at a higher price point than lower grades.

Colour

The natural tint of white diamonds is referred to as colour. Most naturally occurring white diamonds will have a tint of yellow. So diamonds that don’t have this yellow tint are rarer.

Colour affects the stone’s appearance, giving the diamond the bright white sparkle. Yellow-tinted diamonds won’t have the same sparkle. A diamond’s colour has a scale from D to Z, with D being colourless and Z being light yellow.

Colourless grades (D, E, and F) and near-colourless grades (G, H, I, and J) are regarded as the best quality and therefore fetch a higher price.

Carat

Carat is probably the feature of a diamond you’re most familiar with. Contrary to belief, though, carat refers to the weight of the diamond, not the size. However, the weight does affect the size of the diamond.

Since carats measure weight, diamonds with different shapes may have the same number of carats but appear as a size that’s larger or smaller. Diamonds that have the same carat weight may also vary in size depending on the cut.

Carat weight works hand in and hand with clarity, colour, and cut. The carat weight itself won’t determine the price of a diamond. For example, a larger diamond with poor quality will cost less than a smaller diamond with excellent quality.

Shape

Most people think of cut when they’re thinking of shape, but they are two different factors. The shape determines the geometric appearance, not the quality.

Round diamonds are the most traditional and popular shape for an engagement ring. Other popular shapes include princess, cushion, and emerald diamonds. Less common are oval, pear, marquise, and heart.

The shape that comes at the highest price regardless of other factors is round. This is because round cut diamonds tend to appear larger because of their brilliant cut. Other cuts are significantly lower, even at higher qualities.

Gemstone

Most engagement rings feature diamonds and the main stone. Though they are the most popular option, a diamond isn’t required for a ring to be an engagement ring. Natural diamonds are rare, and the price reflects that.

However, some alternatives can help lower the price. Lab grown diamonds have the same chemical makeup but can come at a lower price. Moissanite is another alternative that appears like diamonds for less money.

You can also move away from diamond-looking gems and choose a new look altogether. Sapphire, ruby, and emerald are popular alternatives. But most precious stones can be the centre of an engagement ring.

More Diamonds

If a single diamond is expensive, adding more would, of course, increase the price. Solitaire rings feature a single diamond in the centre of the ring. But many rings have multiple diamonds or other gemstones on the ring as well.

Engagement rings with one large centre stone and two smaller stones on each side are a popular style. A halo setting has smaller diamonds surrounding the larger centre stone to make that stone appear larger.

Stones set into the ring’s band are also a popular style for an engagement. No matter where you add them, more diamonds will increase the cost of the ring.

Brand

One factor that can affect the price that doesn’t have to do with the stone’s quality is the brand. Similar to a brand name vs. generic, some rings may have a slightly higher price tag with a certain brand or designer behind them.

A celebrity designer can get you to spend a little more because their name is attached to them. This can even work at a local level, with some store names having a more prestigious reputation.

Myths Surrounding the Cost of Engagement Rings

Some myths have been accepted as truth when passed around from generation to generation. But though these are widely accepted, you don’t have to follow these arbitrary rules.

One of the popular rules is that you should spend at least three months’ worth of your salary on the engagement ring. But this rule is outdated since there’s a much wider variety of engagement rings than there has been in the past.

You can spend more or less than the arbitrary three months limit. There’s no minimum amount to spend because there’s an engagement ring for every budget.

How You Can Cut the Cost of an Engagement Ring

Using the factors that affect the cost of an engagement ring mentioned above, you can find ways to lower your ring price.

The first step you should take is to decide which factors are the most important to you and your partner. This will give you a place to start while you play around with the other factors.

For example, if you know your partner wants a certain shape, you may be able to choose a lesser carat weight to sacrifice some clarity. Try different combinations of factors until you find a ring and a price you like.

So How Much Should You Spend?

The simple answer is that you should spend what you’re comfortable with. There isn’t one price that turns a regular ring into an engagement ring. On the opposite end of the spectrum, there’s no price cap to an engagement ring.

You may want to discuss with your partner what the two of you feel comfortable paying and feel comfortable wearing. Your partner’s preferences can also help guide your spending.

It’s a good idea to set a budget or a price cap for you to shop within. This way, no matter what kind of ring you choose, it’ll always sit at a comfortable price point.

Setting a budget that you’re happy with will ensure that you feel no regrets about your ring.

The Right Ring Means Forever

Finding the right engagement ring can be a stressful process. With a variety of styles and price ranges, making a decision can sometimes feel impossible. Many people don’t know what the right price of an engagement ring should be.

This common question is the worry of many people about to propose. But there is a silver lining answer: you can almost always find a ring within your price range.

Ready to start looking at your forever ring? Contact our experts to help you find the perfect ring to propose with.

Just picked up our rings today and couldn't be happier with them

Just picked up our rings today and couldn’t be happier with them. The level of service and attention at TJ is incredible – Zach was patient and took the time to explain the different grades of diamonds. We absolutely love our wedding bands and highly recommend TJ. Beautiful jewellery and amazing staff!

Today was our big day and the bands were showered with compliments from the guests.

It was a no-brainer to acquire our wedding bands from Tailored Jewel after they delivered our quality solitaire ring as promised. We immediately set our sights at one of their stylish bands when we browsed through their fine collection at their service hub. Zach was very attentive and helpful all the while. He made sure our rings are of the right size and are delivered in time for our big day. Today was our big day and the bands were showered with compliments from the guests. I wouldn’t hesitate to go for Tailored Jewel again. Out of this world! ??

The rings were displayed in detail and we bought them directly from the website.

Due to MCO, me and my fiancé decided to purchase the rings online and we stumbled upon TJ. The rings were displayed in detail and we bought them directly from the website. Zach approached us and was really helpful in determining the right size. The team responded to us very quickly,plus they made the whole process seamless and smooth. Worth the purchase price considering that we had the rings engraved as well.

TJ helped us make this milestone so much more pleasant.

Very unique designs and materials. Amidst the chaos and planning our ROM during the MCO period, the team at TJ delivered the beautiful rings and offered us excellent service. They helped us make this milestone so much more pleasant. Thank you so much!

Did my entire order online without even going into the store

Excellent experience, beyond what I imagined. Did my entire order online without even going into the store (couldn’t go in store for work Location reasons). Got a custom made engagement ring, they did everything they could to help me, direct messages, pictures, updates on progress and an exact collection time. The ring is beautiful and well produced to a very high standard, could not have asked for more.

Would definitely recommend and will be shopping here again.

Really loved the product & the customisation is flawlessly!

We are exceptionally pleased with the services provided! Ethon was very patient throughout the entire process and catered to our needs and expectations. I really loved the final product and how the customisation was executed flawlessly! It made the entire experience really special for my Fiancé and I. We highly recommend everyone to experience Tailored Jewel’s passion and attention to customer service.

Far more superior than what you could get out there

Thank you so much for your service TJ!

I found the ring I’ve been looking for my soon bride-to-be.

It was a headache since the design we love is either too expensive, or too dull.

We were skeptical at first since it’s an online business but we decided to pay a visit to the physical shop in Atria.

They present to us with many brilliantly done rings they had to offer.

The process is so simple, the explanation is very detailed, they know their product well, and the best part is that the end product is far more superior than what you could get out there with just a fraction or the price!

Definitely recommend this brand for those looking for rings with lower budget.

Worth every penny!

Thumbs up guys and thank you for everything!

From customer service to impeccable products, TJ never fails to impress me.

We are a couple from north, Kedah, and we’ve never stepped in to their Atria Mall service hub to look at their sample rings. Every process was through phone calls and messages.

From their prompt customer service and professional advices, to their spectacular and impeccable end products, TJ never fails to impress me. This proves how pleasant the whole online experience is with Tailored Jewel, and i would highly recommend for couples from other states (especially those with zero knowledge of diamonds and rings just like me) to give a call to TJ to experience their first class service.

Two thumbs up for Ethon and TJ crew!
P.s. the review is written by my fiance who is super satisfied with everything from TJ.

The level of service and assurance provided combined with finish result speaks volume of TJ

Buying jewelry online takes tremendous bravado as this can go so wrong. I’m clearly not that brave which is why I’m glad TJ opened a service hub in Atria which allowed me to view their items and speak to one of the founders (i was lucky to have met him).

Needless to say, I got a lovely piece, and he offered a complimentary service for my diamond ring which i left with him in good faith.

Bottomline, I’ve since collected my ring and it looks brand new. I was nervous at the start, but the level of service and assurance provided (they even shared a video of my ring being serviced) combined with the finish result speaks volume of TJ.

It was a bliss working with TJ. My fiancee was really pleased

First met Ethon couple of years back to have a chat on engagement ring. He’s very knowledgeable with his stuff and never too pushy about selling. Back to few months ago where I finally made the decision to get the a ring. Met up with him again and it was a bliss working with him to get the ring of my requirement and budget.

Talking about budget, I’ve got to commend Ethon on his ability to work around your budget to get you the best diamond by giving insightful suggestions.

Service was good and the production of the ring was timely as well. My fiancee was really pleased and satisfied with the ring when she saw it, which at the end of day was what meant the most to me.

The final result is a beautiful, sparkly, bespoke diamond ring with excellent finishing

Came across Tailored Jewel via some online forums, and my attention was caught by the unique proposition they presented; my fiance could design the engagament ring of her dreams and not leave me broke as a result!

They were very patient with us throughout the process, from pre-sales (entertaining our request for more diamond options), incorporating my fiance’s last minute ring design changes, all the way to post-sales (assisting us with resizing)!! Their response was also extremely quick response whenever we had queries or needed advise. The final result is a beautiful, sparkly, bespoke diamond ring with excellent finishing.

Overall it was a good experience designing and purchasing my proposal ring with Tailored Jewel. Can attest to their professionalism and integrity as online diamond jewellery makers.

My custom ring was perfect! Extremely professional, very patient & affordable price

I must say that Tailored Jewel is probably one of the best recommendation that I’ve received in my life. It was a total different experience when I was purchasing my proposal ring with them.

First of all, they were extremely professional. They spent quite a bit of time educating me on the difference between the grades of diamond and they taught me how to identify the difference. They we’re very patient when it came to my million and one questions.
Secondly, the price was really affordable in comparison to the ones available outside. And when I say comparison, I’m talking about a huge margin of difference.

Thirdly, the outcome of my custom ring was perfect! I was a little skeptical at first when I wanted to customise my ring, but the result was way beyond what I’ve expected. Great finishing and perfection to the detail. They delivered as promised! Thank you Wong Sifu!!!
Thank you Tailored Jewel. Thank you for assisting me throughout the process of designing and purchasing my proposal ring.

More bang for the buck, my fiancee was beaming with joy

Got my engagement ring earlier than expected. Quality was splendid, Diamond was brilliant, Service was exception. They also gave be very good advice choosing them diamonds. Not forgetting getting more bang for the buck, my fiancee was beaming with joy when I presented her with the ring. Definitely a satisfied customer.

Appreciate the patience and guidance given. Le fiancé loves it!

Incredible service! Appreciate the patience and guidance that Ethon gave me as I was clueless on my selection. Le fiancé loves it!

Good explanation on diamond stone & ring customisation. Highly recommended

Is time for me to review this. I love the design and Ethon support on choosing the right purpose ring and engagement ring within the range of Budget. He not like others seller which give u something within your Budget. He give good explanation on diamond stone and ring customise. Highly recommendation for others feel free to buy from ethon. Keep up the good work.

Able to provide the best to satisfy your needs and work on your budget

Two words.. Fantastic Service & Best Price.. i guarantee it myself. Meet up Ethon. Very good service and advise from him…able to provide the best he can to satisfy your needs and work on your budget. The customize engagement ring that i requested was in good condition and beautiful. She loved it very much. Thanks tailored jewel for such a great service

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Diamond Details
Carat
Color
Clarity
Cut
Polish
Symmetry
Fluorescence
Depth
Table
Crown Angle
Pavilion Angle
Measurement
Length Width (L/W) Ratio
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All of Tailored Jewel’s jewellery is warrantied to assure that it is free of manufacturing flaws and to provide peace of mind.
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Our commitment to offering an outstanding client journey experience has always been heart of our business.
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Our Warranty & Guarantee
Money Back Guarantee
We are committed to delivering 100% satisfaction guaranteed jewellery because we recognise the importance of the jewellery you design with us.
10 Years Warranty
All of Tailored Jewel’s jewellery is warrantied to assure that it is free of manufacturing flaws and to provide peace of mind.
Lifetime Customer Support
Our commitment to offering an outstanding client journey experience has always been heart of our business.
Safe & Secure Shipping
All products shipped are insured against theft and damage during transit from our store to the delivery addresses.
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Duties and taxes may be applied to the order according to the national legislation of the destination country. Customer will be responsible for duties and taxes payment upon receiving the package. To learn about the estimate duties and taxes of your country, click here
Returns & Exchanges
We will replace or refund any product purchased from our online/ offline store that does not conform to your expectations, to learn more about our Returns & Exchanges policy, click here
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Our Delivery & Returns
Doorstep Shipping Globally
We offer free shipping for all orders shipped within Malaysia and Singapore; For international shipping, shipping fee is inclusive according to the chosen country currency.
Duties and Taxes
Duties and taxes may be applied to the order according to the national legislation of the destination country. Customer will be responsible for duties and taxes payment upon receiving the package. To learn about the estimate duties and taxes of your country, click here
Returns & Exchanges
We will replace or refund any product purchased from our online/ offline store that does not conform to your expectations, to learn more about our Returns & Exchanges policy, click here
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Our Delivery & Returns
Doorstep Shipping Globally
We offer free shipping for all orders shipped within Malaysia and Singapore; For international shipping, shipping fee is inclusive according to the chosen country currency.
Duties and Taxes
Duties and taxes may be applied to the order according to the national legislation of the destination country. Customer will be responsible for duties and taxes payment upon receiving the package. To learn about the estimate duties and taxes of your country, click here
Returns & Exchanges
We will replace or refund any product purchased from our online/ offline store that does not conform to your expectations, to learn more about our Returns & Exchanges policy, click here
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FAQ about Diamond

When is the best time to buy a diamond?

Diamond prices are determined by unpredictable fluctuations in the market which can happen at any time without warning. So, fiscally speaking, it’s anyone’s guess. But if you‘re currently in the market for a diamond, and you’ve chosen one but are reluctant to finalize the purchase, contact us and we will place it on 48-hour reserve. However, in all fairness, we reserve the right to correct pricing errors if – and when – they occur.

Why do nearly identical diamonds differ in price?

We’re constantly sourcing diamonds to offer the finest quality at the most competitive prices. In the industry, prices are based on suppliers’ buying power and market conditions at the time of sourcing. We price our diamonds based on our cost, not the current market or solely by its quality and size. And regardless of how competitively a diamond is priced at Tailored Jewel, we always pass the savings onto you.
Helpful hint: Our customers often find a higher-quality diamond that sells for the same or less than a slightly lower-quality diamond. For this reason, the lowest priced diamonds in each similar category tend to sell the quickest. So if you are interested in a diamond that appears to be of a higher value, contact us to review its characteristics. If you request additional time to decide, we will grant you a (no-obligation) 24 or 48-hour hold on the diamond in question.

I found a diamond on your website that I like. Is it available?

On occasion, you may be able to place a diamond in your shopping cart and submit your order for processing, but the diamond is no longer available in our supplier’s inventory. For every diamond order, we will review the diamond availability within 24 to 48-working hour; in the case the diamond is no longer available, we will contact you directly to discuss possible new diamond option.

How often do you add diamonds to your inventory?

We add new diamonds to our inventory on a daily basis.

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