Expensive Engagement Rings: In the Eye of the Beholder

When we go ring shopping, budget is one of our biggest considerations. No one wants to start a marriage with a huge engagement ring debt. But this is not, apparently, something that everyone has to worry about. There are some engagement rings that cost more than many of us make in a lifetime. They are, of course, very beautiful. But to most of us, the sentiment behind the ring means much more than an exorbitant cost.

It is no surprise that the world’s most expensive engagement rings belong to celebrities and royalty. When Jay Z proposed to Beyonce, he was very proud of the fact that he was giving her the most expensive engagement ring in the world. The 8-carat flawless diamond set in a diamond encrusted platinum setting cost over £3,173,000.

What makes a ring so expensive? What makes one ring cost two-month’s salary for one person, and another ring that looks amazingly similar, cost millions of pounds? There are a couple of answers to that question. One is rarity, and one is the designer of the ring.

The more rare diamonds are, the more they cost. Small diamonds are more easy to come across, so they do not cost as much. Bigger diamonds, like the ones celebrities prefer, which are 2-,3- or more carats, are incredibly rare. 2-carat diamonds are only found once every five million diamonds mined. That percentage jumps dramatically as 3-carats are one in every 15 million. So you can understand why they cost so much more than a smaller diamond, or even a group of diamonds.

Celebrities also prefer diamonds that are flawless, or nearly so. They like fancy coloured diamonds, like canary yellow or rose. These things also make expensive engagement rings because they are incredibly rare.

Finally, the designer of the ring has a lot to do with why a ring can cost so much. Designers favoured by celebrities and royalty charge much more for their creations, which are usually one-of-a-kind.

As celebrities have proven, time and again, a costly ring does not guarantee us a happily ever after. They are beautiful, but most women would rather have a ring that comes from the heart, no matter what its’ cost.