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If you are getting ready to pop the big question you have probably started thinking about the engagement ring, and how much you can affort to spend. But what do diamond engagement rings cost in the UK? BANUAT lists everything you need to know.


Engagement ring with cushion cut

What Do Engagement Rings Cost In the UK?

You may think that diamond engagement rings cost a fortune, and while that is true in some cases, the average price is less than it used to be.

The price of a diamond engagement ring is measured but the classic 4 Cs: Cut, Colour, Clarity, and Carat weight. Because the average engagement ring contains only three or four grams of precious metal, the cost is linked to the main diamond.

In the UK, engaged couples spend roughly 19 percent less on an engagement ring than they did ten years ago. Today, the average engagement ring costs £1,471, which is less than the average month’s salary, which is £1,800.

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How Much Do People Spend On an Engagement ring?

Along with a drop in the average price, the amount of what people are willing to spend on an engagement ring depends on many things.
Pink diamond

The Age Of The Couple

As it turns out, your age plays a significant role in your attitude towards engagement rings. Millennials (ages 26-40) are willing to spend almost double the amount as older generations.

At the same time, 23 percent of young adults expect their partner to spend more that £5,000 on their engagement ring, but only 5 percent of 45-year-olds would say the same. So apparently, the younger your are the more money you expect your partner to spend on a ring.
Pink diamond

Where The Groom Lives

How much people spend on their engagement rings also depends on where the groom-to-be is from. In Nothern Ireland, future grooms spend over £1,700 on rings, while the average money spent in East England is up to £1,696.

In Yorkshire, people only spend around £1,261, and in Scotland they spend less than £1,000 for a diamond ring. In this instance, the Scots live up to their reputation of being tight with money!

How Much Should I Spend On an Engagement Ring?

The rule that most of us are familiar with is that you should spend three salaries on an engagement ring. But the truth is there is no right or wrong anymore.

So, consider your budget and your lifestyle (if your beloved plays a lot of contact sports, they may not want to wear an expensive diamond engagement ring) and pick a ring that is right for you.

What Can I Wear Instead of an Engagement Ring?

Have a look at our Tailor Made service

If you feel that an engagement ring is not right for your loved, a gorgeous engagement bracelet is the perfect substitute. Or why not a nice watch, or a pair of diamond earrings?

If you want something more specific, BAUNAT’s tailor-made service can help you design a jewel that perfectly matches your ideas.
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