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

Updated: Sep 17



The old rule was an engagement ring should cost two months’ salary. Clearly, these people did not have mortgages or rent to pay in Auckland. What’s expected these days? Lavish or low-cost?


Aside from the cost, you need to consider what type of ring your future wife will want. Does she like clean modern designs, something vintage inspired, or something with all the bells and whistles? What shape diamond does she like? A classic round brilliant, princess cut or something a little more adventurous like a pear or marquise shaped diamond? Should you even be making these decisions unattended?


So many questions—but we have the answers. There is a wide variety of engagement rings in NZ, and we can help you choose the perfect one for your future bride.


Are you confident you know what she will like?

Is your lady love the type who appreciates bling, or does she prefer more delicate jewellery? Knowing her taste is really the first step. Take a look in her jewellery box. If you are unsure, take advice from her friends and close family—her bestie will be stoked to be invited on a ring-shopping expedition. If you are still unsure or if you think you shouldn’t leave this to chance, then don’t pick the ring without her there. Propose with a DOR Proposal ring, or just propose without a ring.


How much to spend on an engagement ring in NZ?


De Beers, famed diamond merchants, dreamed up their campaign for the two months salary rule. This is considered by many men to be the rule of thumb they have to follow. Did you know that when De Beers first came out with the slogan, it was “how can you make one month’s salary last forever?” This two month measure was totally arbitrary, and these days there is no ‘right’ amount to spend on a diamond engagement ring.


Buying an engagement ring does not mean going into debt


Decide how much to spend and don’t worry about the two month salary rule. Start saving money towards the ring once you have decided to pop the question. Then, choose what you can afford, and what she will love. Don’t feel you have to spend huge amounts on a ring unless you want to.


Instead, focus on choosing the best quality diamond within your engagement ring budget. A one carat diamond on its own runs anywhere from NZ$5000 to NZ$40,000, based on the quality. The 4C’s of diamonds will affect the price dramatically; it’s not all about size.


Do you know the ‘4Cs’ of diamonds?


Before you go shopping, understand the ‘4Cs’ of diamonds. They refer to the cut, clarity, colour and carat weight of a diamond.


The cut of the diamond gives it its fire and brilliance and determines how much it sparkles – a well cut diamond is like a prism, shining light through and then reflecting it back through the surface of the diamond.


Clarity refers to the inclusions in the diamond – almost every diamond will have some inclusions, but the lesser they are, the higher the quality and they are usually not noticeable to the naked eye.


Colour actually is a misnomer since what is most desired is no colour. D is the highest grade of diamond colour and the lower down the alphabet you go, the more noticeable colour will become in the stone.


Carat, the fourth and best known of the ‘4Cs’, refers to the weight of a diamond. Picking a smaller diamond with better clarity rather than a bigger carat with less clarity will give you a high-quality diamond.


It is also worth knowing that there are numerous shapes that diamonds are cut into. The round brilliant cut is a universally popular choice for diamond engagement rings. The princess cut (square shaped) is next in line. Emerald cut (rectangular), cushion and oval are others that make their way onto ring fingers. If you’re shopping for an engagement ring in Auckland, NZ, your jeweller will be happy to guide you through the process of choosing the right diamond(s) for you and your partner.


Diamonds on Richmond Auckland have an amazing ring selection, and all the advice and help you need to choose your fiancee's diamond engagement ring. Give us a call and set up a time to visit. Your future wife will thank you for it!

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