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The average price of an engagement ring in 2025 is £2000 based on the typical UK purchase price of a diamond ring.
With a radical change in buyer habits and the introduction of lab-grown diamonds, many younger buyers benefit from larger diamonds for a significant reduction in ring price.
We surveyed ring purchases in the £600 to £10,000 price range. The average cost of an engagement ring was £ 2000.
How does the price compare to an average salary?
The average ring price is related to many people’s average monthly take-home pay. As a rule of thumb, many buyers allow a month’s salary for their purchase.
According to the Office of National Statistics, the average weekly earnings are £ 648 total pay before tax. This works out to approximately £2500 gross pay per month or approximately £2000 net pay per month.
One month’s salary – and the traditional rule-of-thumb
The “one month’s salary rule” gave many buyers a traditional guideline to suggest spending an amount equivalent to one month’s salary on an engagement ring.
The rule originated from diamond retailer De Beers in the 1930s as part of a marketing campaign to promote diamond engagement rings. But, some organisations even attempted to suggest a 3-month rule.
At the same time, it’s important to note that the “one month’s salary rule” became a social convention for anyone budgeting for an engagement ring.
What has changed during 2024?
In 2024, engagement ring options increased dramatically. Most importantly, the adoption of lab-grown diamonds radically increased the size of a £2000 diamond ring. As a result, larger diamonds became more affordable and appealing to buyers. For example, a natural 1-carat diamond engagement ring costing £20,000 now costs below £2000 with a lab-created diamond. This trend is set to continue throughout 2025.
As a result, many millennials look towards affordable, lab-grown diamond engagement rings instead of their natural counterparts.
Example of an affordable lab-grown diamond engagement ring identical to the natural equivalent.
Next, the profit margin varies considerably from one jeweller to another. For example, some jewellers with fewer overheads can apply a smaller margin than a London boutique jeweller with higher overheads.
Factors Affecting Engagement Ring Cost
Several factors affect the cost of an engagement ring. The following table sets out several of the most important details influencing cost.
How much should you spend on your engagement ring?
The following chart shows 100 of our most recent engagement ring sales starting from 2023 – 2024 and the wide variation of prices. Notice how the majority of sales fall between £1000 – £2000.
Compare this chart to the first one published in this article, which was taken from 50 x ring sales during 2023.
Consider your finances.
Before buying a ring, carefully consider your financial situation. Everyone’s financial position differs based on personal circumstances. Income, existing commitments and credit status all vary from one person to another.
In the UK, many buyers take advantage of finance—more importantly, 0% finance. For this reason, we introduced a variety of Klarna Bank options. Whilst only available to UK buyers, a range of 0% finance options exist, all subject to application. We send clients a link to apply based on their chosen ring design and specifications.
Examples of average-priced engagement rings.
Based on the average diamond ring in the UK, we decided to add several choices to meet this budget. In addition, we provide several hundred ring styles and a bespoke service too.
Today, some buyers favour lab-grown diamonds as an affordable alternative to mined, natural diamonds. For example, we set up one of our ring designs (Kensington) in 950 Platinum with a 1.03 carat F colour SI1 clarity lab-grown diamond for just over £2000 as shown in the chart below.
By comparison, most High-Street chains, including jewellery brands such as Beaverbrooks, H. Samuel, and Goldsmiths, provide far less value for money.
Natural vs lab diamond ring prices on the High Street.
| Store Name | Diamond Weight | Colour / Clarity | Metal | Price | Notes | Value Rating |
|---|---|---|---|---|---|---|
| Serendipity Diamonds | 0.4 | G SI1 | Platinum | £2,000 | GIA certified. Very Good Cut | ★★★★★ |
| Earnest Jones | 0.33 | I SI2 | Platinum | £2,095 | Non-recognized lab cert. | ★★★ |
| H. Samuel | 0.5 | I I1 | Platinum | £2,300 | Multistone only available. Non-recognized lab cert. | ★★ |
| Beaverbrooks | 0.31 | G SI1 | Platinum | £2,095 | Uncertified. Diamond weight could be 5% less. | ★ |
| Goldsmiths | 0.40 | G SI1 | Platinum | £2,150 | Uncertified. | ★★★★ |
| Serendipity Diamonds | 1.03 | F SI1 | Platinum | £2,160 | IGI certified. Ethical. Lab-grown diamond. | ★★★★★ |
The post The Average Price of an Engagement Ring in 2025 appeared first on Serendipity Diamonds Blog.