Understanding The Cost Of Engagement Rings
As a designer and creator of unique custom engagement rings in Winnipeg, one of the questions we often get asked is whether a custom engagement ring is more expensive than one purchased from a display at a traditional jewellery store. In today’s article, we will be answering this question and hopefully giving you some insight into what goes into the process of choosing the perfect centre stone and custom-crafting engagement rings and wedding bands.
Factors Influencing The Price Of Engagement Rings
Just like with wedding rings and other pieces of fine jewellery, several factors contribute to the cost of an engagement ring.
One of the most significant factors in the price of an engagement ring is the centre stone. A diamond engagement ring featuring a large stone of 2 to 5 carats will be significantly more expensive than a ring with a diamond of 1 carat or less. Similarly, natural diamonds tend to be more expensive than lab-grown diamonds. For example, a client may be able to purchase a lab-grown diamond engagement ring featuring a 3 or 4-carat stone for the price of a diamond ring featuring a 1-carat natural diamond. So, stone type is definitely an influencing factor.
Other factors include the number of small diamonds in the engagement ring setting. Some engagement rings feature a row of side stones or various halo settings, which can increase the price. Solitaires, on the other hand, feature only a single centre stone, making them more cost-effective.
Metal choice can also affect the cost. Both yellow and white gold tend to be less expensive than platinum, and each has its pros and cons, which we will discuss later.
Custom Rings Vs. Pre-Made Designs
Traditionally, diamond engagement rings were purchased from retail jewellery stores that featured a number of set designs that had been mass-produced. However, as time has gone on, an increasing number of personal jewellery designers (such as us!) now work directly with clients to create the unique engagement ring of their dreams. This can involve customizing such factors as ring style, metal type, and gemstone choices, leading to a truly personalized piece.
Why Choose A Custom Engagement Ring?
A major reason our clients choose us is to have the ability to create something truly unique, crafted by our local artisan team. The journey from selecting the perfect diamond, sapphire, or other precious stone to making alterations in style makes for a very meaningful experience for the happy couple.
Another important factor is quality control. While there are many beautiful rings in retail stores, these are often produced overseas, with the goal of minimizing gold usage to save on costs. This can lead to a ring of lower durability. When clients work with us, they can be sure we use the highest quality standards in all of our work. Our team of goldsmiths has worked with us for many years and holds excellent credentials in the jewellery trade.
Design Complexity And Time
One factor that can influence an engagement ring’s cost is the level of complexity, time, and labour required in the design. While a simple solitaire may be finished in a few weeks, more ornate vintage or antique-inspired designs with intricate details tend to take longer to complete, sometimes requiring multiple revisions. This can increase the cost, but the process is extremely exciting for our clients.
Customization Of Materials And Gemstones
Many clients wish to select a variety of diamonds and gemstones for their design. When this involves a combination of precious gems such as rubies, sapphires, emeralds, and rare diamonds, the cost can increase.
As mentioned previously, while gold is often the metal of choice, some clients opt for platinum due to its durability and hypoallergenic nature. While white gold has been very popular, some clients have skin allergies to certain alloys, requiring us to either use a different gold mix or make the ring in platinum. These factors can affect the cost.
Labour And Craftspersonship Involved
Another factor influencing the cost of an engagement ring is the labour involved. For example, some clients request various textures and finishes such as brushed or hammered finishes, which can take more time and cost slightly more. These unique touches are seldom seen in mass-produced rings.
Custom rings in Winnipeg with many small diamonds can also be more labour-intensive and, therefore, require additional time and money to produce. However, we strongly believe that our quality standards more than make up for any extra cost. Clients are usually very pleased with our ability to work within their budget while offering a very fair price.
How To Save On Custom Engagement Rings
Since an engagement ring is a piece that will be worn for life, it is not necessarily advisable to approach the process from the perspective of trying to save money. Those who aim to save money often gravitate toward retail stores selling mass-produced rings made overseas, which come with quality issues.
It is always helpful for clients to provide us with a budget so we can take it into consideration. This allows us to present a selection of diamonds and centre stones that work within their budget.
Budgeting For Your Custom Ring
When it comes to creating your custom engagement ring, here are some steps you can take to prepare:
- Inform your jewellery designer about your general budget range.
- Let them know your preferences for centre stones, such as whether you prefer a lab-grown diamond, natural diamond, sapphire, etc.
- Send inspirational images of styles you love. These can help us prepare some options that align with your vision.
These steps should help you get the most out of your experience and our exceptional jewellery designers work within a range of budgets.
Finding The Right Jewellery For Your Budget
It’s important to research the various options available when considering a purchase such as an engagement ring. As mentioned earlier, while custom engagement rings may be slightly more expensive, the experience is highly meaningful, and the quality of our rings is second to none. However, if you are on a very tight budget or have seen a ring in a retail store that you like, we recommend making the choice that is right for you.
Ready To Create Your Custom Engagement Ring?
We hope this article has helped educate you about some of the factors that go into the cost of a custom engagement ring. If you are ready to create your very own dream ring, please get in touch with Omori Diamonds for engagement rings in Winnipeg. We look forward to creating your masterpiece with our expert team!