Alternatives To Diamond Engagement Ring. Are Diamond Rings Worth The Money?
 
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Alternatives To Diamond Engagement Ring. Are Diamond Rings Worth The Money?

Ming Feng
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Buying An Engagement Ring

Not so long ago, Kenneth penned down his journey on buying an engagement ring in Singapore. This was after him working out to stay in shape for the big day, where he got down on one knee to declare his undying love for his lady.

As a really practical person, the only question that bugs me was, “how much can I trade that diamond for in future?”

diamond rings
Source: giphy

Away with the traditional mindset of diamond engagement rings, the modernised society is now more welcoming of any other alternative to diamond engagement rings. We set off to find out which of the alternatives is the best value for money.

TL;DR – Cost Of Gemstones As Alternatives For Engagement Ring

Should you be looking at an alternative to the all-so mainstream diamond engagement ring, here are some alternatives. Trust me, it is friendlier on your pocket.

GemstonePrice of a 1 Carat Basic Engagement RingAverage Appreciation Rate
(based on year 2014 - 2016)
Amethyst$766-
Aquamarine$6942.14%
Emerald$9751.01%
Jade
(With gold)
$768-
Garnet$61916.77%
Opal$4581.23%
Oynx$620-
Pearl$304-
Peridot$6283%
Ruby$9022.9%
Sapphire$8303.55%
Topaz$4105.38%

Diamond Prices And Factors Affecting It

When it comes to engagement rings, 1-carat diamond is a good gauge for Singaporean couples. Before diving straight into the cost and price of a diamond, we look at some of the factors affecting the price of it.

Factors Affecting Diamond Prices

There are a few factors that can result in one paying more for his diamond engagement ring.

  • The weight of the diamond (1 carat, 2 carats etc.)
  • The colour of the diamond.
    D colour is the most ideal and Z is the lowest.
  • The clarity of the diamond
    Round diamonds are the most expensive when compared to other shapes.
  • The cut of the Diamond

Diamond Ring Prices For 1 Carat Diamond

For simplicity, we look at the price of a 1-carat diamond of round shape and ideal cut.

Colour/ ClarityIFVVS1VVS2VS1VS2SI1SI2
D$18,056 - $22,000$13,889 - $18,056$11,000 - $15,278$9,722 - $13,889$9,027 - $12,500$7,638 - $11,111$6,250 - $9,722
E$15,277$12,500 - $15,972$10,416 - $13,888$9,027 - $12,500$8,333 - $11,111$6,944 - $9,722$5,972 - $8,333
F$13,888 - $15,277$12,500 - $13,888$10,416 - $12,500$8,333 - $12,500$8,333 - $11,111$6,944 - $9,027$5,555 - $7,638
G$11,111 - $13,194$9,027 - $12,500$9,027 - $11,111$8,333 - $11,111$$7,638 -$10,416$6,944 - $8,333$5,555 - $6,944
H$8,750 - $10,138$8,333 - $11,111$7,638 - $9,722$7,638 - $9,722$7,361 - $9,027$6,527 - $8,333$5,555 - $6,944
I$7,916 - $8,750$7,222 - 8,750$6,944 - $8,333$6,944 - $8,333$6,527 - $8,333$5,555 - $7,638$4,861 - $5,972
J$6,944$6,250 - $7,638$5,555 - $6,944$5,555 - $7,361$5,555 - $7,361$5,138 - $6,527$4,583 - $5,972

The most recommended choice for a diamond is either a Colour G with SI1 clarity or Colour H with VS2 clarity. These two are the more recommended value for money options.

Here’s what a 1 carat, G colour and SI1 clarity diamond engagement ring looks like:

1 ct tw Solitaire Engagement Ring with G Color SI1 Clarity Diamonds GIA Center Stone.
Source: nektanewyork.com

The above recommendation will cost you about $6,944 to $9,027.

Price Of 1 Carat Diamond Over The Years In U.S. Dollars

price of diamond over time
Source: astardiamonds.com
  • Price of diamond has increased over the years, from US$2,700 per carat in the year 1960 to US$28,400
  • We are looking at a year on year average of 14.47% increment every year.
  • Maybe it does sound like a sound investment after all.

Tips To Get The Ring Size Of Your Partner

Obtaining the ring size of your partner can be challenging. The difficulty level of this task increases should she be a light sleeper or her being a really alert person.

Put a ring on it

Here are some ways to obtain the ring size of your partner without her knowing:

  • Size their finger while they are asleep. You really need some skills in this.
  • Obtain one of her ring with the help of her family members or friends.
  • Have her best friend gauge her ring size for you.
  • Go for activities that can obtain her ring size, eg. go for a hand wax figure session or an art lesson that requires tracing of her hand
  • Some of the jewellers allow resizing, so don’t worry if you get it wrong. It is not the end of the world.

Tips To Save Costs On Engagement Ring

Here are some tips and hacks on saving costs on an engagement ring. Getting married is already going to be expensive, hence, every single cent matters.

  • Pick fractions when it comes to the weight of the ring. It gives you the same appearance at a cheaper cost.
    For example, choosing a 0.95-carat diamond ring instead of a 1-carat one.
  • Choosing the design halo. It helps to make your diamond looks bigger.
Diamond engagement halo
Source: olivacom.com

 


Alternative To Engagement Ring – Cost, Price And Value

For simplicity sake, we are going to assume that Singaporeans

  • Love 1-carat engagement rings
  • Goes for clarity AA for stone clarity

Do note that they are a lot of factors affecting the price of the ring. It can be the craftmanship, the brand of which you purchase your engagement ring and many more. We managed to chance upon some market data for some of the gemstones from the year 2014 to 2016 and will be using the increment in value during that period of time as an estimation of the value appreciation of gemstones.

Alternatives to diamond engagement ring

Ring Pop Engagement Ring

ring pops
Source: nuts.com

Highly recommend choice that does not hurt your wallet. On top of that, it is edible and sweet in taste. The optimal solution for those who are looking to turn their proposal into another April fools’ joke. Comes with a slight risk of spending the next Valentine’s Day alone.

  • Price of Ring Pop: $1.50

Amethyst Engagement Ring

 

Amethyst Engagement Ring
Source: glamira.sg

Amethysts cost only a fraction of the price of diamonds. Should your partner love the colour purple, this can be a good option without breaking the bank.

  • Cost of 1 Carat Amethyst Engagement Ring: $766

Aquamarine Engagement Ring

Aquamarine Engagement Ring Singapore
Source: glamira.sg

Categorised as a semi-precious gemstone, the pale blue Aquamarine appeals to those looking for a stylish engagement ring. Aquamarine is also known to bring good luck.

  • Cost of 1 Carat Aquamarine Engagement Ring: $694
  • Price per carat increased from $6.95ct to $7.25ct from the year 2014 to the year 2016. An average increment of 2.14% annual growth rate.

Emerald Engagement Ring

Emerald Engagement Ring
Source: catbirdnyc.com

Should your partner be a fan of Emerald’s rich green tone, this precious stone is also one of the popular options for engagement rings.

  • Cost of 1 Carat Emerald Engagement Ring: $975
  • Price per carat increased from $18.14ct to $18.51ct from the year 2014 to the year 2016. An average increment of 1.01% annual growth rate.

Jade Engagement Ring

Jade Peranakan Lace Ring
Source: chooyilin.com

To be honest, I always thought that a Jade ring would be really cool. Jade was regarded as one of the most precious stones in ancient China, symbolising purity. Nothing beats a fusion of long ancient history with a pinch of modernisation, that benefits our wallet.

  • Price of Jade Ring with gold: $768

Garnet Engagement Ring

Garnet Engagement ring
Source: Bluebile.com

Easily confused as to their Ruby counterpart, Garnet is a great choice for a less expensive engagement ring for the same red colour tone.

  • Price of 1 Carat Garnet engagement ring: $619
  • Price of Red Garnet per carat increased from $0.11ct to $0.15ct from the year 2014 to the year 2016. An average increment of 16.77% annual growth rate.

Opal Engagement Ring

Opal Engagement Ring
Source: glamira.sg

One of the most beautiful gemstones in the world. Known to be the most precious of all gemstone in the past simply because it has got all the colours of all the other gems in it.

  • Price of 1 Carat Opal engagement ring: $458
  • Price of Australian Opal per carat increased from $34.23ct to $35.08ct from the year 2014 to the year 2016. An average increment of 1.23% annual growth rate.

Onyx Engagement Ring

Black Onyx engagement ring
Source: Bluenile.com

Black Oynx gemstone represents willpower. It is said to give you the strength to keep trying, till forever and ever.

  • Price of 1-carat Oynx Engagement Ring: $620

Pearl Engagement Ring

Pearl Engagement Ring
Source: glamira.sg

Pearl is naturally conceived by oysters. Beautiful, lustrous and for those who love the nature.

  • Price of Pearl Engagement Ring: $304

Peridot Engagement Ring

Peridot engagement ring prices
Source: bluenile.com

Named after a french word which means gold, Peridot’s lime green colour allows one to stand out from the others.

  • A 1 Carat Peridot engagement ring costs: $628
  • Price of Peridot per carat increased from $0.82ct to $0.87ct from the year 2014 to the year 2016. An average increment of 3% annual growth rate.

Ruby Engagement Ring

Ruby Engagement ring
Source: glamira.sg

Not the programming language, Ruby is a blood-red gemstone. It is one of the more tradition gems, together with the likes of diamond, amethyst, sapphire and emerald.

  • Price of 1 Carat Ruby Engagement Ring: $902
  • Price of Ruby has increased from $4.47 in February 2016 to $4.60 a year later. That is an average appreciation of 2.9% in value.

Sapphire Engagement Ring

Sapphire diamond halo engagement ring
Source: founderdiamond.sg

A member of the corundum family like ruby, it is one of the hardest gemstones.

  • Price of 1-carat Sapphire engagement ring: $830
  • Price of Sapphire per carat increased from $4.29ct to $4.60ct from the year 2014 to the year 2016. An average increment of 3.55% annual growth rate.

Topaz Engagement Ring

Blue Topaz Engagement Ring
Source: bluenile.com

Topaz is regarded as the crystal of potency. Say hello to Baby Bonus!

  • Cost of Blue Topaz Engagement Ring: $410
  • Price of Topaz per carat increased from $3.08ct to $3.42ct from the year 2014 to the year 2016. An average increment of 5.38% annual growth rate.

Editor’s Note: Pricing of the rings are from chooyilin.com, glamira.sg, bluenile.com

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About Ming Feng
A stint in Bloomberg gifted me with a beer belly, which only grew larger when I moved on to become a Professional Trader. Now I turn caffeine into digestible finance-related content.
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