When purchasing a wedding ring, the cost is a personal decision that varies from person to person. Much like weddings in general, there is no set amount a couple should pay. The price instead will be influenced by several factors, including personal preferences, budgets and expectations.
In this post, we’ll discuss different wedding band styles as well as other factors to consider when purchasing your wedding rings.
Things to consider when deciding how much you want to spend
There are a few points to consider when ring shopping. Here are some of the factors that might play a role when deciding what rings you want to purchase…
Cultural & regional influences
Exploring cultural and regional expectations is important as this will help determine wedding ring expenditures. In some cultures, a sizable ring may symbolise prosperity and commitment, while others prioritise modesty and practicality. Cultural traditions may dictate specific metals or gemstones, which will impact the overall costs, too.
Understanding expectations from each other is vital, as this helps a couple align their choices, not only with each other but also with cultural values and individual financial restraints. This in turn creates mutual respect and a partnership of personal preferences and cultural significance, making your wedding rings a symbol of your love but also a reflection of your cultural identities.
Your significant other's expectations
As the ring is a symbol of your marriage, your significant other’s opinion is an important factor in the decision-making process. We’d suggest having an open and honest conversation with your partner to discover their preferences and expectations. Take into consideration factors such as your lifestyle and personal style, as well as the significance your partner places on you wearing a ring.
Your financial situation
It is important to set yourself a budget when ring shopping and stick to it. Spend some time researching different ring styles and designs to discover what’s within your limits. Speaking with our Jewellery Experts in-store or online could help you discover savvy ways to make savings by sharing information on metal and diamond specs to help you make an informed decision.
How much do wedding rings cost?
The cost of a wedding ring will vary greatly between the ring type, metal used and if any gemstones or diamonds have been incorporated into the design. Where you purchase your ring will also affect its price. Every jeweller is different, so their pricing structure will differ too. It’s also worth noting that market trends can also cause prices to fluctuate regularly.
Women's wedding rings
When shopping for women’s wedding rings, it’s important to consider your budget. Plain wedding bands are typically more affordable due to their simplicity, focusing on metal quality. For women's wedding rings with diamonds, prices vary based on diamond quality, carat weight, and cut. For example, higher-quality diamonds with larger carats and superior cuts contribute to increased costs.
Plain
Plain wedding bands have been a traditional choice for many years. Their simplicity and elegance make them a timeless option. They’re also a great choice if you don’t want to detract from the design of your engagement ring. The precious metal you choose will determine the price of your ring. The higher the carat, the higher the gold purity and value will be too.
Diamond
If you’re looking for extra sparkle, a diamond wedding ring might be the perfect fit. Diamonds have long been seen as a symbol of enduring love and commitment, making them a great choice for a wedding band. Plus, they’re a beautiful way to enhance the glimmer of your diamond engagement ring. As with all diamond jewellery, the price of your wedding ring will be determined by the number and quality of diamonds within the design, as well as the precious metal used.
Shaped
Shaped wedding rings are ideal for those with a uniquely shaped or a large engagement ring. These rings may have curved bands or a specific shape, such as a chevron. This allows them to fit around an engagement ring and create a cohesive look. Non-traditional shapes are also a great way to express your individuality or personal style. When purchasing a shaped band, the price will be greatly influenced by each unique design. The inclusion of diamonds and gemstones will affect the cost too.
Contemporary rings
Modern and elegant, contemporary wedding rings reflect current trends in jewellery. They might have alternative polishes or finishes, as well as unique shapes or settings. Those with an appreciation for artistic expression may be drawn to this type of design as they’re unique in style. As the style differs, the price will reflect the complexity of the design and material used.
Black diamond bands
Black diamond bands are a bold alternative to traditional diamonds. The contrast between the dark colour of the diamond and the metal band can create a stylish appearance. Dark and elegant, they create a stunning contrast between the black of the diamond and the metal band. Depending on the design, they can be a more affordable option to their colourless counterpart but this will vary depending on the design and metal used.
Men's wedding rings
Several key factors influence the pricing of men's plain wedding bands. The choice of metal plays a significant role in the price, with platinum being more expensive than gold or alternative metals. Band width and thickness contribute to material usage and finishes can influence prices based on the craftmanship involved.
Plain
Plain wedding bands have been favoured for years and are seen as a traditional choice for many grooms. This classic style lends itself well to many precious metals. Finishes, such as polished, brushed, or matte, can add personalisation too. The thickness of the band can also change the appearance of the ring. For this style, the main factor that will affect the price will be the precious metal chosen and its carat.
Diamond
We’ve seen diamond wedding rings rise in popularity as more and more people are seeking sparkle. Whether you opt for a single diamond or a fully studded look, there are a variety of designs available to suit your style. Incorporating diamonds into your wedding ring design will increase the price. If the diamonds used are of a high quality or carat size, this will be reflected in the price. The cost will also increase with the number of stones used.
Contemporary
Artistic souls or trendsetters may seek a contemporary wedding band. With unique shapes and finishes, this style of ring was designed to stand out. When shopping for a contemporary style, prices will vary from design to design as the finish and metal type will affect the cost.
Black diamond bands
Sleek and elegant, black diamond wedding bands are ideal for grooms looking for an alternative style. While black diamonds are usually a more affordable option than colourless diamonds, the price will still be higher than a design without any gemstones.
Setting a budget
Before making a purchase, assess your finances thoroughly. Consider your income, expenses, and future financial goals. Research the prices of designs you like and use these average costs to set a realistic ring budget. You should also be open to adjusting your budget and consider financing options if necessary.
When purchasing your rings as a couple, be sure to have an open and honest conversation before shopping to ensure your priorities, expectations and budget align. Respect each other's boundaries and work together to achieve shared saving goals if needed.
How does the metal type affect the cost
Wedding rings are available in various metals, each with distinct cost, durability, maintenance, and aesthetics. It’s important to understand the maintenance, and the cost associated with this, each metal requires before committing to your purchase, especially as it’s likely you’ll wear your wedding ring daily.
Gold
Gold is a traditional choice for wedding rings. There are many designs available in variations of white, yellow, and rose gold to suit personal preference. When purchasing gold jewellery, there are two factors to consider: the carat and the colour. Both will have an impact on the look and wear of your jewellery. The higher the carat of metal, the higher the price will be.
Yellow gold is created by combining both pure gold with alloy metals such as zinc and copper. It is important to remember that the higher the carat, the more yellow in which the gold will appear.
White gold is created by mixing pure gold with a white metal such as silver, magnesium or palladium. This gives the metal an off-white or cream shade. It’s also often plated with rhodium, which needs regular re-plating to maintain its colouring.
Rose gold is created by mixing pure gold with copper alloy to create a pink tone. A higher carat will create a pinker tone, whereas rose gold created using more copper will have a redder appearance.
Platinum
Platinum is more expensive than gold but boasts exceptional durability and a lustrous appearance. Platinum does not need to be mixed with a large amount of other substances, unlike other metals, making it extremely hard-wearing. It’s also a great choice for those with allergies or sensitive skin as it is hypoallergenic.
Silver
Silver jewellery is the most budget-friendly option but does require regular maintenance to retain its appearance. When purchasing silver jewellery, you should consider if you have the budget for its initial purchase as well as the ongoing maintenance your piece may require.
Think you’ve found the one?
Making an informed decision before purchasing a wedding ring is crucial. This piece of jewellery represents your lifelong commitment, so it is important to understand the characteristics and durability of each metal type and design style before making a purchase. This will ensure your choice matches your personal style and lifestyle.
Need some extra help? Book an in-store consultation with one of our Jewellery Experts to discuss your requirements and preferences. They’ll be able to offer personalised advice and show you various designs to help you find the perfect ring for you, making it a meaningful and lasting symbol of your love and commitment.
