How much do ethical engagement and wedding rings cost?

Engagement-style rings

When it comes to asking how much an engagement ring will cost, it’s a bit like asking how long is a piece of string.

Some sources in the jewellery insurance industry report that the average spend on an engagement ring in Australia was about $5,200 in 2019, and that number has been fairly consistent in the three to four years before then.

But an average isn’t really all that helpful. It’s a very rough guide at best.

Others in the industry report that the typical spend is something like 8-10% of the buyer’s annual salary, but numbers like these take no account of individual circumstances and preferences.

What really matters is what feels right for you in terms of what you can afford and what your other financial priorities are.

All that said, it’s still helpful to have an understanding of how much these things cost, or what you can get for your money – so here we go.

How much does an engagement ring cost?

There are a lot of things that influence the finished price of an engagement ring. Some make a big difference. Other things, not so much.

To give you a starting point, the engagement rings shown on this page typically cost somewhere between $3,000 and $8,000, but it’s not all that hard to spend fifteen or twenty thousand if you want to.

The main things that impact on price are:

1. The diamonds and/or gemstones you want to go into your design. You could spend as little as a few hundred dollars at one end of the scale, or tens of thousands at the other;
2. The complexity of the design – which determines how much labour (manufacturing and setting) is required to make your ring and how much gold or platinum is needed;
3. Which precious metal you choose; and
4. Engraving (if that’s part of your design).

How much will the metal and manufacturing cost?

Depending on the metal, a simple engagement ring of average size will usually take around ten to 12 hours to make. Excluding the diamonds or gemstones, the starting prices for manufacturing and metal are:

• 9 carat (rose and yellow) gold, from $1,900;
• 9 carat white gold, from $1,950;
• Platinum from $2,250
• 18 carat (rose or yellow) gold from $2,350; and
• 18 carat white gold from $2,450.

For a more complicated design, expect to add anything from $400 to $2,000*. This covers any extra metal and more labour for things like setting more stones, saw-piercing, carving and engraving.

*As an example, a basic halo design with a simple open under-carriage would likely add $400. One with an intricate under-carriage and custom engraving could add up to $1,000. To this you need to add the cost of the diamonds or gemstones.

Here are some examples of Simple Ring Designs …

And here are some examples of what we would call Complex Ring Designs …

Engraving

Engraving is a lovely way to add a unique dimension to your design.

It can ‘bling up’ an otherwise plain design and will totally transform a ring.

We also do simple things like include a personal message on the inside of the ring.

How much does engraving cost?

• Prices start at $40 for adding the (numerical) date to the inside of the ring;
• Engraving wedding rings on the outside face is usually $250 – $750 depending on the complexity of the design;
• To engrave three sides of a ring (outside face and edges), prices start at around $550; and
• Highly detailed and precise micro engraving (done under a microscope) is priced on application.

Within reason, the possibilities are endless

• words on the inside
• fingerprints
• symbols
• full band engraving
• part band engraving

Gemstone Price Guide

As it is with diamonds, we can really only give you a meaningful indication of price once we know what it is you want and what sort of budget you have to work with.

And just as we do with our diamond ring customers, we tend to work out what the metal and manufacturing cost will be first so we can work out how much of your budget is left to spend on the gemstone/s you want.

Prices for gemstones vary wildly depending on type, size and quality.

Common gemstone varieties (like Amethyst and Aquamarine for example) are relatively inexpensive. Likewise you might pay only tens of dollars for small, locally produced sapphires.

At the other end of the scale you can easily pay tens of thousands of dollars for larger, exotic and high quality gems like Ethiopian emeralds and genuine Russian Alexandrite.

In fact, some gemstones (like high quality natural rubies) are more expensive by weight than fine quality diamonds.

Then throw lab-created gems into the mix and that makes things even more complicated.

Most of our customers spend somewhere between $1,500 and $5,000 for good quality gemstones (most often Queensland or NSW blue or parti sapphires), but we can easily source much higher quality and more expensive ethically-sourced gemstones is that’s what you’re after.

The best thing to do is contact us to discuss what you want and how that will fit into your budget.

To learn more about natural and lab-created gemstones, click here.

Other services

Valuations

Valuations aren’t essential, but they’re very useful for insurance purposes. They provide an independent record of the replacement value of your jewellery piece.

Sadly, over the years, several of our customers have had us replace their lost rings – one even destroyed hers in a pushbike accident. Insurance is a good idea. It can simply be a matter of adding specific items to your home and contents policy (be sure to insure it as a ‘portable valuable’).

Independent valuations are included with all engagement rings over $2,000. If you would like a valuation for your wedding ring the charge is $65.

Postage and transit insurance

Australia Post, postage and transit insurance for handmade rings is free of charge within Australia. For high value items (up to $35,000) Brinks courier is offered. This is charged at their cost price which is currently $220.

Pick up is available for Brisbane residents by appointment.

We do not post outside of Australia unless there are exceptional circumstances.

Ring boxes

All rings or ring sets come with a beautiful, sustainable timber ring box.

Pendants and other significant pieces of jewellery get a timber presentation box too!