Engagement Ring Prices - How much should you spend?

Engagement ring prices are one of the most discussed topics when it comes to buying a ring. If you go by the commercials you see on TV, then you should spend at least two month’s salary on an engagement ring. However, if you’ve found the perfect ring and it costs less than this, you shouldn’t feel like you have to spend this much. Think about your personal finances and buy as much ring as you can afford, but no more. A ring symbolizes both your financial and emotional commitment to your marriage. The last thing you want to do is start your marriage off with financial trouble by spending too much on a ring.

The Rappaport report (also known as the Rapp Sheet) is a report that has been published by a man named Martin Rappaport since the 1970s. It reports on diamond prices worldwide and is used as a guideline for pricing diamonds. You can ask your jeweler to see a copy of the Rapp sheet. While not all jewelers will show you, some will. The internet is another source of information on prices. You can look at the prices for a similar diamond on several sites and see what the average price is.

Here are some general guidelines about engagement ring prices .

• .5 carat: $1,600-$6,000
• .75 carat: $2,900-12,250
• 1.0 carat: $5,900-$23,00
• 1.5 carats: $8,300-$28,000
• 2.0 carats: $15,800-$40,000
• 3 carats: $28,900-$85,000

That's not inexpensive, so next we'll talk about ways to find cheap engagement rings.