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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 afford to spend. But what does the average diamond engagement ring cost in the UK? BAUNAT lists everything you need to know.


What is the average cost of an engagement ring with a cushion-cut diamond?

What does the average engagement ring cost in the UK?

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

The price of a diamond engagement ring is measured by 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% 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, £1,800.

Discover our range of diamond engagement rings

How much do people spend on an engagement ring?

Along with a drop in the average cost of an engagement ring, what people are willing to spend on an engagement ring depends on many things.
What is the average cost of an engagement ring featuring a pink diamond like this?

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 what older generations are.

At the same time, 23% of young adults expect their partner to spend more than £5,000 on their engagement ring, but only 5% of 45-year-olds would say the same. So apparently, the younger you are, the more money you expect your partner to spend on a ring.
What is the average cost of an engagement ring like this gorgeous solitaire diamond?

Where the groom lives

The average cost of an engagement ring also depends on where the groom-to-be is from. In Northern Ireland, future grooms spend over £1,700 on rings, while the average money spent in the East of 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.

How much should I spend on an engagement ring?

Most of us are familiar with the tradition that you should spend three months’ salary on an engagement ring. But the truth is there is no right or wrong anymore.

So, consider your budget and lifestyle (if your beloved plays a lot of contact sports, they may not want to wear an expensive diamond engagement ring) and pick the right ring for both of you. Don’t worry too much about the average cost of an engagement ring where you live.

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 one, a gorgeous engagement bracelet is a 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 piece of jewellery that perfectly matches your ideas.
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