Opening the lid of a tiny velvet box to reveal a sparkling token of love and commitment is a heart-stopping moment for couples in love. No doubt you've dreamt of this moment yourself!

But before you get there, you have to pick the perfect engagement ring, of course! Whether you're surprising your loved one or shopping together, the question must be asked, how much should an engagement ring cost in Australia?

Is there a 'one-size-fits-all' price tag, or does it vary? The quick answer - it's all about what feels right for you and your partner.

The cost of an engagement ring can fluctuate greatly based on factors like gemstone choice, band material, design, and your budget.

The idea that a person should spend one month's salary on an engagement ring was introduced in the late 1930s as a marketing campaign by one of the world's largest diamond companies. This evolved to two months' salary in the 1980s and eventually three!

While this thinking has been ingrained in society over the years, how much you spend on an engagement ring is a highly personal decision based on your circumstances, preferences, and values.

In this article, we'll dive deeper into the subject of engagement ring cost and give you practical advice to navigate your ring-buying journey, including how to strike a balance between quality and affordability to choose the perfect ring that will make your partner's heart sing without making your wallet cry!

Armed with this information, you'll be able to make this important decision with confidence.

Are you ready to kneel down, open that tiny box and pop the big question to the love of your life?

Let’s back up a minute. First, you need to find the perfect engagement ring!

But how much are engagement rings? That's like asking, "How long is a piece of string?" It all depends on the options!

Just like each love story is unique, so is every engagement ring.

Believe it or not, when it comes to price, it isn't just about the size of the diamond or stone that you choose.

The cost of an engagement ring is also dictated by factors such as the
      • Quality of the diamond simulant
        or gemstone simulant.
      • Type of metal.
      • Jeweller's brand.

Engagement rings can cost anywhere from $500 to $50,000 and more. In Australia, the average price of an engagement ring is approximately $6,000.

It's important to know that you shouldn't feel pressure to pay an exorbitant sum. An engagement ring is about expressing your love and commitment, not meeting some societal standard. You should be guided by whatever works best for you and your partner based on your preferences and budget.

That said, we acknowledge that there are certain traditions and expectations some people might want to meet. In this article, we'll walk you through those traditions and how they influence ring prices, plus give you the lowdown on getting the most sparkle for your hard-earned dollar.

What Is the Average Price of Engagement Rings in Australia?

The average price of an engagement ring in Australia is approximately $6,000.

This average is affected by
• The type and quality of the gemstone.
• The metal used for the band.
• The intricacy of the design.
• Where the ring is purchased.

However, just because this is the average amount other couples spend on engagement rings doesn't mean that's how much you have to spend! There are no rules- what matters is that the ring you pick reflects your love for your partner and doesn't break the bank and negatively impact the start of your married life together.

It's also important to note that very high-end purchases can skew averages, and many people buy rings that cost less than this average.

At Secrets Shhh, our high-end engagement rings are priced well under this $6000 average. That's because we use diamond simulants and gemstones. These ethically lab-grown stones offer the same brilliance and sparkle as natural diamonds at an affordable price.

For example, check out our Pear and Round Brilliant halo engagement ring with 1.16 carats (total equivalent diamond weight) of diamond simulants in 14-carat white, yellow, or rose gold.

Or our Round Brilliant solitaire engagement ring with a 7-carat (total equivalent diamond weight) diamond simulant in 10-carat white and yellow white gold.

Is $2000 Expensive for an Engagement Ring?

Whether $2000 is considered expensive for an engagement ring largely depends on personal circumstances, such as your financial situation and priorities, as well as your partner's expectations.

Compared to the average cost of an engagement ring in Australia, $2000 would be on the lower end.

As mentioned earlier, a ring's monetary value does not reflect its sentimental value or the love between you and your partner.

Spending more than you can afford can lead to financial stress, which isn't a good way to start a life together. It's perfectly acceptable to choose a ring that you and your partner love and that fits comfortably within your budget.

There are beautiful and meaningful rings available at all price points, including $2000 and below.

In fact, most Secrets Shhh engagement rings are priced below $2000. We have an extensive selection of diamond and gemstone simulant rings available in 10 or 14-carat white, yellow, and rose gold. And your choice of stone cut is endless, including
• Emerald
• Marquise
• Oval
• Pear
• Princess
• Radiant
• Round Brilliant

What Is The Average Carat Size & Cost of an Engagement Ring In Australia?

The average carat size for an engagement ring in Australia is between 1.0 and 1.5 carats.

High-quality diamonds of these carats could cost anywhere from $5,000 to $15,000 or more.

You're spoiled for choice at Secrets Shhh for engagement rings featuring diamond simulants of 1 to 2 carats (total equivalent diamond weight). We have over 150 rings in this category available in different stone colours, cuts, metals, and settings.

How Do You Propose When She Wants To Pick the Ring?

If your partner wants to pick their engagement ring, there are some creative ways you can propose without said ring.

Consider proposing with a

1. Placeholder ring: A 'proposal ring' is a placeholder ring that’s commonly less expensive than an engagement ring. Dress rings are ideal. Secrets Shhh offers dress rings in varying diamond and gemstone simulant carats, cuts, and colours in 10 or 14-carat gold or sterling silver. This option keeps the surprise element of your proposal intact, and you can both shop for the engagement ring together later.

2. Loose gemstone: Buy a loose diamond or another gemstone that can be set into a ring of your partner's choice later.

3. Sentimental alternative: Perhaps a memento from your first date or trip together, like a movie or plane ticket. Writing 'Will you marry me?' on the back will make your proposal extra special!

4. Gift certificate: You could beautifully present a gift certificate from a jeweller inside a ring box.

Get Answers About Engagement Rings

Now that we've unravelled various aspects of engagement rings, you’re better equipped to navigate your ring-buying journey.

So how much should an engagement ring cost in Australia?

Well, we debunked the myth about spending a certain amount of your salary on an engagement ring and discussed that the ring's cost is a highly personal decision that should fit your budget.

But for reference, we've explored the average cost of an engagement ring in Australia ($6000), the average diamond carat size for engagement rings (1 to 1.5 carats) and provided a rough cost estimate for carats of this size ($5,000 to $15,000).

And what if your partner wants to pick their engagement ring? We hope you found our creative suggestions for proposing without an engagement ring helpful.

Whether you're planning to surprise your loved one or you're shopping together, we invite you to explore Secrets Shhh's selection of exquisite engagement rings.

Browse our extensive range of engagement rings online, then visit a Secrets Shhh store near you to see and try on our dazzling diamond simulant engagement rings set in 10 and 14-carat white, yellow, and rose gold.

Whether you're looking for timeless or unique ring designs, the team at Secrets Shhh is here to guide you in finding the perfect ring to capture your special love story.