How Much Should You Spend on an Engagement Ring in Singapore?

Deciding on the ideal amount to spend on an engagement ring has been a timeless debate, often surrounded by varying opinions.

As I vividly recall our search for the perfect engagement ring, my partner presented me with various options and price ranges, all of which he planned to order from the United States. Ultimately, we chose a dreamy topaz set on rose gold for just under S$500. While this may be considered a modest price tag by some, I preferred to invest in our future lives together after the wedding. The joy I felt when he finally proposed with the ring was immeasurable.

While the classic rule suggests investing three months’ salary, emphasizing the significance of a lifelong commitment, a more thoughtful approach to ring budgeting becomes essential in the face of challenges like rising prices, inflation, and economic volatility induced by the pandemic.

UNDERSTANDING THE AVERAGE COST

Selecting the perfect engagement ring requires insight into the average costs. While the two-month salary guideline, originating from the Great Depression era, was once prevalent, it’s crucial to recognize its outdated nature.

In Singapore, engagement ring prices generally range from S$700 to S$100,000, with the most common choice being a 0.5-1.0 carat diamond priced between S$1,230.90 to S$2,066.30. A key takeaway is that the price escalates with the carat weight.

GRASPING THE FOUR Cs

Delving into the intricacies of engagement ring prices, factors like carat, cut, clarity, and color significantly influence the overall cost. A higher clarity grade commands a higher price, as flawless gems, detectable only under powerful microscopes, come with a premium.

The cut of the diamond, with the round brilliant being the most expensive, and the type of chosen band are vital considerations contributing to the overall expense. For example, there is a S$15 difference between an oval cut and a round cut 0.3-carat ring of SI2 clarity. Additionally, emerald-cut diamonds can be anywhere from 12% to 42% cheaper than round diamonds of the same carat.

CREATING A RING BUDGET

Similar to planning a wedding budget, setting a reasonable engagement ring budget is paramount. Evaluate your financial standing, considering salary and savings, and establish a budget that aligns with your preferences and capabilities.

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Utilize spreadsheets to create a tangible plan, factoring in additional costs like jewelry insurance. Strive for a special ring without harming your financial stability. And, explore payment plans or financing options responsibly. Ask yourself: Do you really need to take out a personal loan for this?

SHOPPING AROUND

In the pursuit of the perfect ring, don’t hesitate to explore various options. Resist the impulse to settle for the first option, and instead, compare prices across different designs and jewelers.

Educate yourself on high-quality jewelry and confidently navigate through price points, acknowledging that the national average may not necessarily apply to your unique financial situation.

OPTING FOR VINTAGE

Vintage or antique engagement rings present an alluring alternative. Apart from their historical charm, these rings often come at a more affordable price compared to contemporary options.

Delve into the nuances of eras, ensuring awareness of any alterations the ring may have undergone over time. Your dream ring might be a yellow-gold band from the Art Nouveau era, carrying a distinct character. You can buy vintage pieces from Revival Vintage Jewels at Wheelock Place.

EXPLORING NON-DIAMOND OPTIONS

With the surge in popularity of non-diamond engagement rings, considering alternatives like precious stones becomes viable. These options not only offer a potentially more affordable choice but also provide a chance to symbolically personalize the ring.

Embrace the uniqueness of birthstones such as sapphire, emerald, or ruby rings. Sapphire rings is the most expensive among non-traditional options, averaging S$1,075.29 for a 0.5-carat ring.

Image Credits: unsplash.com

In the pursuit of the perfect engagement ring, combining emotions with practical considerations leads to a more meaningful choice. Best of luck!

Sources: 1 & 2

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Questions to ask when buying an engagement ring

a diamond ring

Purchasing an engagement ring is a first-time experience for most of us and it’s no doubt a high-end item that we don’t commonly come across daily.

When it comes to a costly purchase like a diamond ring, you will want to make sure you’re making the proper choice before parting with your cash. Are you uncertain of the questions you should ask before purchasing a promise ring?

If not, read on.

Can it be modified?

It’s a good idea to inquire about the ease with which a ring can be adjusted, amended, or enhanced. You may not want to choose a style that is costly and difficult to modify if your companion leads an active lifestyle. Alternatively, you might want to start with a simple diamond ring with the goal of upgrading later. Check with the jeweler on how simple it will be to replace the stone or fuse on a new band.

Are there warranties?

Check to see if the ring includes a maintenance contract that will support future adjustments, and be sure you understand the agreements; Don’t forget that you will probably need to fix something on your band at a certain stage.

When purchasing a diamond engagement ring, request a copy of the stone’s certificate to check its validity. It’s also preferable if the ring has a return policy because you never know how well a ring will fit until you’ve worn it for a few days. Don’t forget to inquire about any additional warranties that may apply to your ring or its gems.

What’s your ring budget?
engagement ring budget

Image Credits: eshowmagazine.com

Because of the wide range of engagement rings available at varying prices, you must first decide how much you want to commit before shopping for a diamond ring. The cost of a diamond engagement ring can range from $1,000 to $30,000, with the typical cost being around $5,000.

Your exact budget should be determined before you look for an engagement ring to help you limit your search for the right piece of jewelry. Simply put, the type of ring style you can purchase is confined by your funds. For instance, common sense dictates that the larger the diamond, the higher the price, and vice versa.

One of the most pricey buys you will ever make is your engagement ring. When it comes to ring purchasing, there’s a certain amount of pressure that comes with it. You want to purchase the perfect ring or one that makes you as satisfied as possible. Knowing what questions to ask before selecting an engagement ring is crucial. You can significantly minimize your options to a ring that’s ideal for both you and your partner by using the basic questions listed above.

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A simple guide to purchasing an engagement ring online

a silver diamond ring

Hey folks, good day. Have you read the news on tighter COVID-19 measures to come into effect from Saturday, 8 May?

For those planning to get married, be aware that marriage solemnisation can still proceed with the 250-attendee cap. However, pre-event testing will be needed if there are more than 50 attendees. The same goes for wedding receptions.

Indeed, this is the “new normal” and not at all a surprise. In fact, Health Minister Gan Kim Yong noted that the authorities might even bring in another “circuit breaker” if the newly announced restrictions aren’t able to bring down COVID-19 community cases.

Individuals who are thinking of popping the question might want to plan ahead to get their engagement rings in time for that unique proposal. Here’s a simple guide to purchasing one online.

Choosing the right jeweller
a man making a ring

Image Credits: unsplash.com

An engagement ring is for a lifetime, and it’s essential to choose the right jeweller to help make your dreams come true.

This is the perfect time to put on your researcher cap and start reading reviews. Googling the jeweller’s shop name will showcase testimonials, and all the good and bad opinions shared on social media platforms.

Also, head to the shop’s website and see if you can find contact details or arrange an online video call to speak with the experts. Observe if they are prompt with their replies and go the extra mile to provide a detailed explanation to your questions.

Sizing and budget
a diamond ring in a box

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Once you’ve chosen the jeweller you can trust, it’s time to consider the next steps to purchase your ideal engagement ring.

When it comes to sizing, using a universal sizing system can be safe, but there are always risks since variations are unavoidable. Considering that this is an online purchase and you can’t try it out physically in stores, you should find out the shop’s resizing policy.

Kate Furman, a jeweller and designer, shares that wider bands will fit more tightly than thinner ones, so that’s something to keep in mind. It’s also worth noting that rings with gems around the loop may need to be remade to alter the sizing.

To work your way around this bump, visit a physical jewellery store to find out the exact size. Or you may also try out a similar-style ring to observe the fit.

Also, a big question to ask yourself is the budget you have in mind. Most individuals are okay to spend about two months’ salary on an engagement ring, but ultimately, it’s a personal decision. As such, do what is most sound for you financially.

Furman said that the quality, craftsmanship, technical skills, and materials would affect the price range. Look at your list of shortlisted ring designs and ask questions to understand the mechanics behind their price tags.

Custom designs online
drawing of a customised ring

Image Credits: Pinterest

Sometimes, it’s impossible to find a ready-made design that hits the sweet spot. Frankly speaking, that’s alright since customisation options are available. But what you want to do is work with the designer directly to ensure no misinterpretation over the consultation process.

Remember also to check the measurements thoroughly as custom items are usually non-returnable and non-refundable.

“Jewelry is often measured in millimeters. If you cannot picture the size, find a device to measure it against your own hand. You do not want to be surprised that it is smaller or larger than you expected it to be when it arrives,” Furman recommends.

Don’t rush the process and take time to consider the range of online jewellers out there before placing an order. Have a successful proposal and a blessed marriage to come!

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Engagement ring inspirations for your upcoming proposal

Engagement ring inspirations

For a woman looking forward to being engaged, there’s almost nothing better than the excitement that a beautiful engagement ring can bring.

With the symbolic meaning a ring carries, it has to be as perfect as it can be. That’s why the process of choosing an engagement ring must be taken seriously.

As usual, every prospective bride wants to see the three Cs in their engagement ring, namely carat, clarity, and cut. However, it’s crucial that the ring also keep up with the year’s latest trends and stay fashionably classy throughout the years.

Some fashion statements can fall out of style, and an engagement ring must be able to match various accessories and outfits for a stylish and sophisticated look.

That’s why we’re here to share with you some elegant engagement ring inspirations for your upcoming proposal this year.

#1: Black Diamonds
rose gold black diamond ring

Image Credits: alexisrussell.com

Move aside, classic diamond. The black diamonds are now up and coming. This is due to their striking nature and the mysterious and cool, edgy vibes it carries.

The engagement ring can stand out even more if it’s set in a bold yellow or rose gold colour, which offers a step away from the traditional diamond ring approach. 

#2: Halo Rings
hexagonal halo ring

Image Credits: whowhatwear.com

One of the top emerging trends of 2021 is halo rings that have a hexagonal or octagonal shape. 

It creates the perfect balance between preserving the essence of timeliness but also adding that element of uniqueness. No longer are purely traditional rings a must-need if you’re planning to propose this year.

Those searching for a beautiful ring without being too “bridal” can consider this design.

#3: Colourful Stones
Teal sapphire engagement ring

Image Credits: capucinne.com

When you think of proposal rings, you might imagine the classically cut glimmering diamond. 

However, you can slowly replace that idea with the new trend of colourful stones. Specifically, teal-coloured sapphire is a stone growing in popularity, creating an ideal blend of blue and green shades.

Because these stones are on the rarer side and not alike, they make for a ring that’s entirely one of a kind and precious to the bride who wears it. 

#4: Mixed Diamond Cuts
Mixed Diamond Cuts

Image Credits: reebonz.com

Sometimes, trends can work backwards by capturing the looks that give off an antique or vintage feel.

This specific trend involves mixing different diamond cuts, like tapered baguettes combined with rounds, epaulettes, or bullets. It encompasses the well-known art-deco design but adds a modern-day twist to make it an exceptional diamond engagement ring.

Plus, if you’re environmentally conscious, incorporating existing stones into a single ring allows for plenty of upcycling. 

#5: Remodelling
remodelling diamond rings

Image Credits: pinterest.co.uk

Even though an engagement ring by itself is already meaningful, it can be made even more special by incorporating existing stones that carry a sentimental value.

Across the board, more and more jewellers encounter clients who’ve inherited jewellery and want it to be remodelled into a specific shape or form into their engagement ring.

It’s a fabulous way to make an engagement ring even more personal to the modern-day bride holding on to traditions.

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Incredible Saving Tips That You Must Know Before Buying An Engagement Ring

Take A Chance On The Pawn Shops

In a gloomy night in November, my friend proposed to his long-term girlfriend. The surprise does not stop there as they are expecting an adorable edition to their family. Due to the urgency of the situation and his tight budget, he considered purchasing from the pawn shops along the Little India. The varying rates of the rings here are slightly lower than those offered by the chain jewellers. He grabbed this opportunity ferociously!

You see, unlike some Singaporeans, my friend is not superstitious. He does not believe that purchasing a second-hand ring can induce bad luck. It is a surefire way to stretch your dollar if you hold the same perspective as him.

Negotiate With The Craftsman

I cannot deny the fact that going to a commercial jeweler follows a swifter process. You simply have to step inside the likes of “Love & Co.” and “Lee Hwa Jewellery” and purchase a ring right away. However, convenience comes with a hefty price tag. Consider buying personalized rings from local or online craftsman.

Negotiate with the jeweler and ask if he or she is willing to change the settings of your desired ring. Settings include the 4C’s: carat, cut, color, and clarity.

Opt For The Color Yellow

Different hues grace the very essence of the diamond rings. Since colored diamonds are extremely rare, they are priced handsomely. The supply and demand dictates the varying prices of the said fancy colored diamonds. There is still hope for your pocket as the least popular hues are less expensive.

This is why you must go for the most underrated colors such as Grey, Brown, and Orange. Asians shy away from Yellow diamonds due to the common misconception that it does not suit our skin tones. Try out intense and fancy Yellow diamonds first before believing the majority. Do not be too quick to judge!

Use Your Beneficial Card

Subscribing to the “married club” entails costs that exceed thousands of dollars. How often will this happen to you? Well, you better maximize your purchase! Get as many discounts or rebates as possible by charging your engagement ring in your credit card.

For instance, you may use your American Express True Cashback Card. It offers 3% cashback on the first S$5,000 that you spend. And, there is no limit on your earnings. Isn’t that amazing?

Image Credits: pixabay.com

Image Credits: pixabay.com

May these tips help you to save enough money to buy your dream engagement ring. The only thing that you may worry about is your ability to gather your guts in order to ask one of the most significant questions in your life.

Sources: 1 & 2

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