Finances and Budget
It’s honestly that simple. While many young couples want the “best of the best,” the realities may not allow that. You’re beginning a life-long relationship and there’s no rule that says you can’t upgrade later. Wedding rings should never put added financial pressure on newlyweds, so keep it realistic. Let your jeweler know your limits. A good jeweler will be able to come up with something special no matter what your budget is.
The Type of Ring
Gone are the days when you had to have a “certain” type of wedding ring. Non-traditional rings are showing up on the fingers of princesses and movie stars (as well as your friends and neighbors). Intricate rings with precious stones will naturally be more expensive than simple bands. If you’re open to different types of metals and gems, you can widen the range of prices available to you.
Where You Buy Your Rings
We believe a local jeweler will offer better pricing than a large chain. A trained professional will be able to offer customized options and compare “apples to apples” so you know you’re getting the best value. While internet outlets may seem to have lower prices, hidden costs often result in lower quality.
No matter where you shop, you’ll likely hear about the 4-Cs. It’s a jeweler’s shorthand for Cut, Color, Clarity, and Carat…the four aspects of a diamond that determine the price. For example, larger carat weight only comes with a larger price tag if the other three elements also rank high. Two stones that are 1-carat will have a different price if the cut and clarity are different.
What Price to Expect
It’s hard to budget if you don’t know what price range to expect. A plain wedding band for women will often be between $250 to $1500. As you add gemstones and designs, the price could sail up over $5000. A good average for many women’s wedding bands is around $1400.
Men’s wedding bands are often less intricate and can start around $150. Precious metals like tungsten could cost as much as $2000, but the average most pay for a men’s wedding ring is about $550.
Why Budget is Important
Now that you have an idea of what you can (and should) spend, your jeweler will be able to guide you to the type of ring that make sense. If you fall in the higher end of the range, you’ll be able to look at more precious metals and larger diamonds. If you’re watching your pennies, you can save a bit by looking at estate jewelry, vintage shops, or family heirlooms.
So, Where Do You Fall?
As you weigh all the factors, it’s clear that there’s no such thing as a “perfect price” for wedding rings. Much of it is determined by personal preference and finances. But we believe when you know those things ahead of time, a qualified jeweler can help guide you to a ring that will be as special as your love for each other.
Helping couples make these decisions is something we love doing every day at Shreve & Co. From budgeting to ring choices, we’re ready to help you today!