How to buy an engagement ring in the UK and get a great deal

The number of weddings taking place in the UK had been in decline before the pandemic: there were 219,850 weddings across the UK in 2019, which represented a 6.4% decrease from the previous year.

However, Covid arrived, causing cancellations and postponements for wedding ceremonies in 2020. This has led to something of a boom for the wedding industry in general since things started reopening. 2021 saw a huge increase in couples tying the knot, with 417,000 saying “I do”. Even with the backlog from the pandemic being dealt with, 2022 is expected to bring 350,000 marriages nationwide.

Before couples get to walk down the aisle, there is typically an engagement period, and this is preceded by a proposal and very often sealed with a ring. For anyone thinking about joining the throngs of lovers, here are some tips for the proposal.

What type of engagement ring is typically bought in the UK?

There are around ten popular shapes for diamonds, and these include emerald, pear, heart-shaped and oval. The most commonly bought diamond engagement rings are round.

Typically, engagement rings will be between one and two carats. Obviously, the big question for anyone looking for a diamond engagement ring will be how much it will cost. The price of a one-carat diamond will depend on the colour, clarity and cut, as well as the weight. The price, therefore, could vary from £3,000 to £20,000.

The average cost of an engagement ring is £1,865, with the adage of spending two months of one’s salary on this type of ring seemingly forgotten (and probably invented by a jeweller anyway!). Nevertheless, many people will spend a significant amount on their partner’s engagement ring, and the most popular choice, the round cut, is also one of the more expensive due to how much rough is lost shaping the diamond.

Should one buy a round-cut diamond ring?

The average weight of a diamond engagement ring in the UK is 1.5 carats, which is 30 grams. One of the reasons that the round-cut diamond is so popular for engagement rings is the brilliance of this cut.

Round-shaped diamonds are symmetrical and have 58 facets for an extremely high level of brilliance. These stones also tend to look larger than they actually are, thus giving the appearance of looking more expensive. While round-cut diamonds are not the cheapest shape, they could give the impression of a good deal having been made. Another reason that round cuts are expensive is the level of skill and time needed to make this shape.

Not everyone will suit a round-cut diamond ring, though, so it may pay to look at other shapes before making decision. There are plenty of choices in the UK for buying jewellery, in-person and online.

What are your options when looking for engagement rings in the UK?

When looking for the best deal on an engagement ring in the UK, it may pay to shop about. It is well worth hitting the high streets and going online for some comparisons.

Some options for finding an engagement ring are:

• Antique shops
• High street jewellers
• Worthy or similar websites
• eBay
• Online jewellers
• Pawn shops
• Craigslist or other private listings

The cost of a wedding in the UK averages around £30,000. An engagement ring could easily amount to 10% to 20% of that, so it is a significant purchase.

This makes it well worth taking the time to find the best deal and doing some research. Those aiming to try and buy a ring from a private listing or an auction site such as eBay will need to know what they are buying – the difference between moissanite and diamonds, for instance. It’s important to understand colour and clarity and how they affect the value of a stone.

Trying to purchase an engagement ring online should be done only through a reputable vendor.

Is buying an engagement ring on the Internet wise?

Buying expensive jewellery online can be a little tricky as one cannot visit a physical store, however, there are advantages too. The downside is that it’s not possible to try on any rings, along withe the fact that a buyer cannot physically see the ring and will be relying on the website for details and images. It’s necessary to put one’s faith in the seller and trust that they are honest and reputable.

Nevertheless, there are many online jewellers with excellent reputations. And because ecommerce has fewer overheads than running a physical retail store, it may be possible to get a better deal this way. One big warning sign should be the price being too low though. If it seems just a little too good to be true, perhaps it is.

How can one get the best deal when buying an engagement ring?

Argos has reported that it sells 200% more engagement rings before Christmas than before Valentine’s Day. As autumn and winter approach, thousands of people will be considering buying their loved one an engagement ring.

Somewhere like Argos will often have sales, so they are a logical choice for researching prices, if nothing else. Understanding the price of diamonds and precious metals is also a good starting point.

If the plan is to purchase online, there will be a wider selection to choose from, as geography is no longer a barrier. In this instance it’s essential to look for customer reviews and accreditation from the National Association of Jewellers.

One also needs to also fully understand colour, clarity and carat. Which cut is opted for may be simply down to taste, but this is the moment to consider how the ring will look on one’s partner – not all diamond shapes suit everyone.

Colour

The colour of a diamond is rated on a chart ranging from D to Z, with D being the purest. However, it is unlikely that the layman will be able to tell much difference between D and G or H, so it’s best to look for a stone towards that part of the spectrum.

Clarity

Not surprisingly, there is a chart to measure the clarity of these precious stones also. This chart rates diamonds from being flawless to having visible inclusions. If one chooses SI1 or SI2 then it will be a “slightly included” diamond, but these inclusions will be invisible unless studied in detail. Choosing SI1 or SI2 could save thousands of pounds.

Carat

One little trick is to choose the weight of a diamond by dipping under a round number. Instead of a two-carat diamond, buying a 1.95-carat diamond instead can make a surprising difference to the cost. Similarly, if the choice was to buy a one-carat diamond ring, looking for a 0.95 carat is well worth doing as this will save a considerable amount – perhaps as much as £1,000.

There are plenty of classic jewellery pieces for fashion lovers out there, and if one is armed with some knowledge about the four Cs and an understanding of the current price of diamonds, there’s scope to shop about until the perfect ring is found.

Summary

Getting a great deal on an engagement ring means doing some research and comparisons. Shopping online must be done with a reputable site such as Worthy, and looking for customer reviews is always worth doing.

A high street jeweller will be able to assist, and they will be knowledgeable about their engagement rings. It’s just important to remember these tips on clarity, colour and carat, and it may be possible to buy a stunning ring but save thousands at the same time.

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