What Does a $20,000 Engagement Ring Look Like—Plus Rings at Every Other Price Point

You've found The One—now it's time to find the ring. It's hard to know where to begin, as the average shopper doesn't know what types of ring or diamond their dollar can get them. What does a $20,000 engagement ring look like? How about a $10,000 ring? "The average US diamond engagement ring is $6,000," says Kristy Cullinane, co-founder of Chicago jeweler Plum Diamonds. "The center diamond is typically the biggest factor in regard to price because quality, size and origin can all vary widely. The setting, materials used, brand and after-care are [also] big factors in setting the price." (When it comes to the center stone, the 4Cs—including carat size—are the determining factors of quality and, therefore, price.) The good news? There are beautiful engagement ring options at every price point—and ways to stretch your dollar, like making a center stone look bigger with a surrounding halo of smaller stones.

We spoke with three female jewelers—Cullinane, Olivia Landau, founder and CEO of The Clear Cut and a GIA graduate gemologist, and Brittany Groshong founder and designer of Valley Rose—to get the lowdown on what engagement rings look like at every price point, from $1,000 to $100,000.

In this article:

• What Goes Into the Cost of an Engagement Ring?
• Engagement Rings at Different Price Points

What Goes Into the Cost of an Engagement Ring?

Even if it's early in your ring search, you'll notice lots of differentiation in the costs of engagement rings—even when looking at similar rings or similarly sized diamonds. "The costs that go into making an engagement ring, of course, start with the raw materials, gold and gemstones," Groshong explains. "But there are so many other costs involved. The next factor that affects the cost is the expert labor that goes into making the ring. Most engagement rings, even a simple classic design like a solitaire, take hours of work over a few days by many highly skilled artisans, like 3D designers, wax carvers, casters, polishers and stone setters. If you are looking for an ethically made engagement ring, that has an additional premium to cover fair livable wages for gold miners, gemstone miners, lapidaries and jewelers."

Even the costs of raw materials differ, primarily based on metal market fluctuations and the 4Cs that determine gemstone quality. Groshong suggests ranking what matters most to you when it comes to stones. "Pick just one factor that is most important to you—whether that be color, clarity or carat size—and compromise on the other quality factors," she says. "When it comes to diamond grading, I always recommend my clients go for a lower near colorless grade like J-G, and higher clarity grade like VS2+. A lab diamond with DEF color and FL/IF clarity will be almost double in cost compared to one the next level down, [but] for most people, the difference is not noticeable between these two grades."

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If carat is your top priority—or the appearance of a larger carat—Groshong has some suggestions, too. "Go for a diamond in an oval or marquise cut," she says. "This gives the illusion of a larger carat weight with a bigger spread. A 1.5-carat oval-cut diamond looks almost the same as a 2-carat round-cut diamond. Another design tip is to add a diamond halo to your center stone, which will make your center stone appear up to 1 carat larger."

Engagement Rings at Different Price Points

The good news: You can get a gorgeous engagement ring on any budget. Still, it's good to be armed with the basics of what your money will get you before you officially go engagement ring shopping. Here, take a look at some styles—and diamond sizes—your budget can secure.

$1,000 | $2,500 | $4,000 | $5,000 | $8,000 | $10,000 | $12,000 | $15,000 | $20,000 | $25,000 | $30,000 | $40,000 | $50,000 | $100,000

What does a $1,000 engagement ring look like?

Photo: Valley Rose Studio

Designs in the $1,000 price range are minimal and dainty—a look that's conveniently on-trend. Keep durability in mind, though. "There is nothing wrong with dainty so long as your metal thickness is strong enough to hold up to daily wear," Groshong says. "I recommend going no thinner than 1.6mm for your ring shank; any thickness under this will most likely warp or break in a short amount of time." As for the diamonds, $1,000 gets you a 0.1-carat natural diamond or up to a 0.25-carat lab diamond. "Alternative stones in this price point, like lab sapphires or moissanite, will get you up to 0.5 carats [total], and you can play with a classic solitaire or three-stone ring or a celestial style ring with gemstone accents."

What does a $2,500 engagement ring look like?

Photo: Valley Rose Studio

Photo: Valley Rose Studio

"This price point is where you can go a little bigger, but the designs will still be quite modest and dainty," Groshong says. "If you work with your hands a lot or have an active lifestyle, a more minimal design would be a better fit anyway." This price point will garner a 0.25-carat mined diamond with high color and clarity. "The designs you can work with are either a solitaire or an asymmetrical celestial ring or even a very dainty three-stone ring." Using lab diamonds, you could get up to 0.5 carats. "You can work with a creatively set solitaire, like a halo or a melee band, or a three-stone ring with a 0.25-carat center stone and 0.125-carat side stones."

What does a $4,000 engagement ring look like?

Photo: Valley Rose Studio

Photo: Valley Rose Studio

"This price point level opens up the more traditional sizes and designs people think of when it comes to engagement rings," Groshong says. Using natural diamonds, $4,000 will get you a 0.5-carat solitaire or a 0.3-carat center stone with a melee-decorated band.

"Using a lab diamond or natural sapphire, you are looking at 1.5 carats total, and the designs you can work with are three-stone rings, toi et moi styles, center diamond halos and melee decorated bands," Groshong adds. "Creative options include different shapes of gemstones and a more elaborate look."

What does a $5,000 engagement ring look like?

Photo: Valley Rose Studio

Photo: Valley Rose Studio

At $5,000, you can start adding accent stones, Groshong says. "For a natural high color and clarity mined diamond, you are looking at 0.65 carats total; you can work with solitaires or a celestial ring with scattered melee stones." Opting for lab diamonds takes your dollar further, getting you up to a total of 1.75 carats. And, if this is your budget but you like the look of bling, lab sapphires or moissanite will get you up to 2 carats total. "With this, you can play with bold and sparkly designs."

What does a $8,000 engagement ring look like?

Photo: Valley Rose Studio

Photo: Valley Rose Studio

"This price point begins the level of premium engagement rings; bold, large-carat center stones and elaborate accents are the name of the game," Groshong says. You can hit a total of 1 full carat of natural diamonds, and she loves crossover-style bands. "For a lab diamond, you are looking at 3 carats total, and the designs you can work with are a 2-carat center stone and 0.5-carat side stones. Rings with a 2-carat center stone are visually appealing for those that love lots of sparkle and a center stone with a big spread."

This is a great budget point to explore other types of diamonds, Groshong adds. "For salt and pepper diamonds or alternative grade diamonds, you are looking at a ring with 1.5 to 2 carats. These rustic diamonds have an otherworldly and unique look and look best with fairy tale or celestial designs. Each salt and pepper diamond is one of a kind and perfect for those who value uniqueness and earthy style."

What does a $10,000 engagement ring look like?

Courtesy of Plum Diamonds

Considering that $6,000 is the national average for engagement rings, rings at this price point start to look noticeably blingier. "Anything above $10,000 is likely to be a mined diamond or a ring with a large, dramatic setting with a high gold or platinum content," Cullinane says. For $10,000, you can get a natural 1-carat center diamond surrounded by a halo of smaller stones (which can make the center stone appear up to a full carat larger).

What does a $12,000 engagement ring look like?

Courtesy of Plum Diamonds

With a $12,000 budget, you can get a natural diamond solitaire up to 1.5 carats, Cullinane says. "Another factor to impact materials pricing will be any accent diamonds or gemstones in your setting," she adds. "The higher the total carat weight, the higher the price, and labor on settings with dozens or even hundreds of small diamonds will add up." Here is where you can get more complex with your setting; the more intricate the setting, the more expensive due to both labor and materials. "Precious metal market prices fluctuate, and right now, gold prices are extremely high," Cullinane says. "The more gold in your setting, the higher the price."

What does a $15,000 engagement ring look like?

Courtesy of Plum Diamonds

At $15,000, you can get a high-quality, naturally mined 2-carat solitaire diamond engagement ring. (However, Cullinane notes it likely won't come with a brand name.) Consider dividing up the 2 carats into a more intricate or unique setting around a 1- or 1.5-carat center stone.

What does a $20,000 engagement ring look like?

Courtesy of Plum Diamonds

Here, you can get a 2-carat medium-quality mined solitaire with a brand name attached, says Cullinane—think Tiffany, Cartier or Chopard. "Brand names will impact pricing and can tack on thousands of dollars to the price of your ring," Cullinane notes. "Prestigious brand names fetch a premium; however, they don't necessarily deliver higher quality." Though shoppers at this price point are typically looking at natural diamonds, you can get up to a 6-carat stone for $20,000 with lab diamonds. Bring on the bling.

What does a $25,000 engagement ring look like?

Courtesy of The Clear Cut

"Typically a ring with a $25,000 budget has around 2.5 carats for a high-quality diamond in a classic round cut, or up to 3 carats for shapes like old Europeans, old mines or pears," Landau says. An Old European cut is a round diamond with 58 large facets and a circle in the middle—and its cut allows you to go a little bigger with your budget. "If you want a bigger look, you can get a diamond with larger facing dimensions," Landau says.

What does a $30,000 engagement ring look like?

Courtesy of The Clear Cut

"With a $30,000 budget, you have the opportunity to start exploring more complex ring designs," Landau says. "Usually, we see people buying 3-carat rings, and some will opt for side stones for a unique three-stone ring design."

What does a $40,000 engagement ring look like?

Courtesy of The Clear Cut

"With a $40,000 budget, we've seen customers add some form of personalization to their ring, either with initials or a specific colored gemstone," Landau says. "Depending on the balance of the 4Cs, we see rings around 3 to 3.5 carats." Consider colorful diamonds—yellow diamonds are more rare and, therefore, more expensive than white diamonds and add a gorgeously unique touch.

What does a $50,000 engagement ring look like?

Courtesy of The Clear Cut

For $50,000, you're probably not looking at solitaires. "This budget allows for more unique ring settings, with carats [totaling] around 3.5 to 4," Landau says. Here's where you can really go big with intricate settings and sparkling accents.

What does a $100,000 engagement ring look like?

Courtesy of The Clear Cut

"With a $100,000 budget, carat size can range from 4 to 6," Landau says. "Customers have the option to fully customize their ring, from the setting to the stone shape and more." Check out other stones you couldn't get with lower budgets: Pink diamonds, for instance, are so rare that they can cost up to $100,000 per carat; natural rubies fetch even more.