Engagement Ring: How Much Does It Cost and How to Set Your Budget
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There’s one question almost everyone asks themselves before buying an engagement ring—and very few people answer honestly: how much should I spend?
For decades, an unwritten rule stated that the ring should cost the equivalent of two or three months' salary. This rule has no real basis. It was invented by a marketing campaign in the 80s—and it's time to forget it.
What does make sense is understanding what factors determine the price of an engagement ring, so you can make an informed decision, without pressure or surprises.
What Determines the Price of an Engagement Ring
The final price of an engagement ring depends on four main variables. Understanding them allows you to adjust each one according to your budget without giving up what matters most.
The Diamond — The Main Factor
The diamond accounts for 70% to 85% of the ring's total cost. Its price is determined by the famous 4Cs: carat weight, cut, color, and clarity. Of all of them, carat weight has the biggest impact on price—and cut has the biggest impact on sparkle.
Natural or Lab-Grown
A lab-grown diamond has the exact same physical and visual properties as a natural one, but costs 50% to 70% less. This means that with the same budget, you can get a significantly larger diamond. It's a personal decision—there's no right answer. You can read more in our guide natural vs. lab-grown diamonds.
Diamond Shape
The diamond shape also affects the price. The round cut is the most expensive because it requires more raw material to achieve its perfectly symmetrical shape. Shapes like oval, pear, or cushion are usually more accessible for the same carat weight—and often create the illusion of a larger size.
Design and Metal
The type of setting and the chosen metal also influence the final price, though to a lesser extent than the diamond. At Luara, we work with 18K gold—the standard for fine jewelry—in white, yellow, and rose gold.
Indicative Price Ranges
At Luara, engagement rings start from approximately €1,000 and can go up to €5,000 or more, depending on the chosen diamond and design.
For guidance:
- From €1,000 to €2,000 → lab-grown diamonds between 0.5 and 1 carat, clean and elegant solitaire designs. A beautiful option that is on par with higher ranges.
- From €2,000 to €3,500 → natural diamonds between 0.5 and 0.8 carats, or larger lab-grown diamonds. The most balanced range between quality, size, and budget.
- From €3,500 to €5,000 and above → natural diamonds of 1 carat and up, or pieces with more elaborate designs and high-quality stones.
These are indicative ranges. Each ring is different, and at Luara, we always work to find the best piece within your budget—without compromising what matters most.
How to Set Your Budget Without Stress
The best way to approach this decision is not to start with a fixed number, but with an honest conversation with yourself—or with us.
Some helpful questions: What diamond size is most important to the wearer? Do you prioritize carat weight, design, or diamond quality? Are you open to a lab-grown diamond to get a larger size?
There is no right budget. There is only the one that makes sense for you at this moment—and a piece that reflects it honestly and beautifully.
Why Luara Doesn't Have a Fixed Price Catalog
Because every engagement ring we design is different. The process begins with a conversation—we understand what you're looking for, your budget, and what this moment means to you. From there, we design together.
No surprises. No pressure. Just the ring it's meant to be.
If you want to know what's possible within your budget, write to us at info@luarajewelry.com or tell us your idea on our custom design page. We'll respond with real options, with no obligation.