Survival guide: the Value of a Ring

Things are getting very serious with my girlfriend. In fact, I think pretty soon we’re going to be engaged. We’re on the same page on pretty much everything, including the fact that she should have an engagement ring. But neither of us is interested in starting our lives together without any money, so we’re planning on going with a ring that’s as inexpensive as possible.

However, even the more “affordable” rings I’ve seen are still really, really expensive! Why are engagement rings so pricey? Are they really worth so much, or is this whole thing a big scam?

It’s wonderful that you and your girlfriend are at such an exciting point in your relationship, and that you’re both on the same page in regard to things like this. As for your question: yes, engagement rings can be quite expensive! Let’s talk a little bit about why.

According to experts at Ashley Douglas who sell engagement rings in Brisbane, the price of an engagement ring depends, broadly, on two factors: the value of the material in the ring and the design of the piece itself.

Diamonds, of course, are the gemstone of choice for engagement rings. And diamonds aren’t cheap, because they’re rare--though the reason for that is a little tricky. Diamond suppliers like De Beers are partly responsible for the rarity of diamonds, which means that diamond rarity is “artificial.” But that’s little more than a trivia fact, because when it comes to price and cost, rare is rare--be it artificial or otherwise.

The good news is that jewelry holds its value. Selling a diamond engagement ring years later will recoup much of what was initially spent (hopefully you won’t be selling yours, of course, but selling old jewelry with less sentimental value can be a quick way to raise cash in a pinch). And while we’re on the subject of engagement ring value, make sure that you insure the one that you buy! Insuring an engagement ring is quick and easy, and it will give you some piece of mind.

Of course, none of this means that you are obligated to spend a great deal of money on an engagement ring. There are plenty of ways to keep things a bit more affordable. For instance, have you spoken to your family about the possibility of using a ring that has been passed down by your loved ones? That’s just one way to save money on engagement rings. Other options include shopping online instead of in person, looking at gems besides diamonds, and considering flawed pieces.

Whatever you decide, the important thing is that you and your girlfriend are on the same page when it comes to these big decisions--especially the big decision at the center of these questions! We wish you both the best.

“Every moment is a fresh beginning.” - T.S. Eliot

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