Engagement rings on a budget

Oct 8, 2020 | Engagement Rings

“How much should I spend on an engagement ring?” This is probably one of the most commonly-asked questions of newly engaged couples. Traditionally, the groom was expected to spend the equivalent of two months’ salary. However, these days brides and grooms are far more discerning and looking for cost-effective options when it comes to engagement rings.


Here at MAX Diamonds, we have engagement rings to suit every budget, but we have a few tips to get the best ring possible. 

  1. Firstly, consider your partner’s personality when choosing a design for your ring. Not everyone wants to bright and flashy ring – some may prefer a smaller diamond high colour and clarity. So speak with your partner and find out what kind of design they have in mind before committing an expensive ring scattered with diamonds.  

  1. If you want to maximise your budget, it’s actually more economical to buy a single diamond and make a solitaire ring as opposed to spreading your money over three diamonds for a three-stone ring. By investing in a single diamond, you’ll be able to ensure its quality – plus there’s nothing better than the elegance of the classic solitaire!  

  1. For those of you who can’t afford to buy the diamond you want right now, we recommend using our lifetime upgrade policy. Under this, we are happy to take back the original diamond that you purchased and credit you with the price you paid towards a new diamond of greater value. So, rather than paying full cost for a new diamond, you only pay the difference. 

  1. We understand that all the big purchases can come at once, so we also offer a 6-month interest free lay-by which is a great way to budget and pay off that perfect ring for your partner.


Browse our range of stunning diamonds 

Now that you know what to look out for when purchasing a diamond, the only thing left is to decide what kind of diamond will suit your budget! At MAX Diamonds, we have a range of GIA-certified diamonds in a range of sizes. Because the price of diamonds fluctuates with the US dollar, these quotes may vary – however, they will give you a good idea of how much to invest in your engagement ring.  

Loose diamonds 

  • One 0.30ct natural round brilliant cut diamond G colour, SI1 clarity GIA certified 
    $965 inc GST 
  • One 0.40ct natural round brilliant cut diamond G colour, SI1 clarity GIA certified 
    $1,430 inc GST 
  • One 0.50ct natural round brilliant cut diamond G colour, SI1 clarity GIA certified 
    $2,255 inc GST 
  • One 0.75ct natural round brilliant cut diamond G colour, SI1 clarity GIA certified 
    $4,995 inc GST 
  • One 0.95ct natural round brilliant cut diamond G colour, SI1 clarity GIA certified 
    $8,150 inc GST 

  • One 1.00ct natural round brilliant cut diamond G colour, SI1 clarity GIA certified 
    $8,820 inc GST 


Ring Mount 

Once you have your beautiful diamond, this will need to be set into a ring mount. At MAX Diamonds, a classic 18ct white gold six -claw solitaire ring in a standard finger size will start from $990 inc GST for a cast ring and $1,350 inc GST for a handmade ring. Although handmade rings may cost a bit more, the design can be adjusted to suit your preferences – perfect for those of you who want a completely personalised and customised ring.  

When you combine the costs of your diamond and ring mount, this means that you could have a handmade 18ct white gold ring with a 0.30ct RBC standard finger size from only $2,315 inc GST!


How to select a ring design 

Once you’ve chosen your diamond and ring mount, the next step is the design. Your ring is a very special and personal choice, so rest assured that our top designers always look after you personally. 

When you first walk through the doors of MAX Diamonds, you will see our large range of ring designs and superbly handcrafted rings which will show you just how many settings are readily available.  

You may find that one of these is exactly the ring you had in mind. However, you might like to combine some features of one with some features of another. Alternatively, you might want like something designed and created especially for you, or to even design your own ring! 

Regardless of what you choose, it’s important to speak directly with a designer. Your personal ring designer will never try to influence your choice, but can always tell you how to maximise your diamond’s brilliance and fire. They will also oversee every step in the actual making of your ring to ensure that it will be a magnificent piece of workmanship throughout.


So how much should I pay for an engagement ring? 

It doesn’t matter how much or how little you would like to spend on your ring, as we have rings to suit every budget. However, it’s important that you consider exactly how much you would like to spend before you even begin to look for a ring. Take the time to research what is available at that price (and beware of imitation diamonds that are so readily available on the internet 

Then, when you visit us, one of two things will happen. Either you’ll find that style of ring you have in mind will cost you a good deal less than you anticipated or you might like to outlay your full original sum and achieve a much more valuable ring than you’ll find anywhere else for the same price.  

You don’t need a fortune to buy correctly; you need to know the right place and the right people. You can’t go wrong with MAX Diamonds. Get in touch with us to view our entire range, or chat to us about creating your very own custom engagement ring.


Please note that the above diamond and ring prices were current on the 8th of October 2020 only. For a updated quote please contact us today to speak to one of our diamond and jewellery consultants.

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