If you’re preparing for marriage, you’ll probably be already concerned about the bill. Between the wedding, and the engagement, taking this step in your life is certainly not affordable for many people.
To make sure you’re able to plan for this phase of your life, we’ll take a closer look at what you can expect to pay for that diamond ring and delve into the factors that will affect the price of this piece of bling.
Average diamond ring prices in South Africa
South Africa is a country of radical disparities. So naturally, the budget of South Africans varies when it comes to engagement rings. By and large, however, most will be looking to spend between R 20,000 and R 30,000 on this special purchase.
But how do you reach this total?
Well, first of all, the price of the ring will be affected by your choice of metal. Those opting for the pricier platinum should prepare themselves for a hefty price tag. If you’ve opted for a shade of gold, your choice of karat weight will factor into price as well. The higher the karat weight, the more zeros on the price tag.
Then, of course, comes the main event: the diamond. There are numerous factors that go into determining the cost of the diamond. And fortunately for us, there are internationally recognised criteria that are used for determining and verifying the value of a diamond. Let’s take a closer look at these.
We’re used to the sparkle and shine of the finished product, but diamonds look rather different before they are cut. The cut of a diamond is essential in promoting the characteristics that we value in these stones: glitz and glamour. In short, diamonds should shine. And we promote this by playing with angles, and proportions to get the perfect reflection of light.
There are pros and cons to various cuts of diamonds. A few examples of popular cuts include brilliant, cushion and princess cut diamonds.
When we talk about diamond colour, we’re really talking about the lack of colour. That is because a high-quality diamond should be colourless. The lower the colour grade, the warmer, or more yellow the stone.
A diamond will also be judged by the lack or presence of flaws. Ideally, a diamond will be free from these so that light can flow through freely. Diamonds are graded according to how many inclusions or blemishes it has.
Less is not more when it comes to diamonds. And that’s why the final item on our list is carat weight. Carat weight refers to the weight of the diamond, and not the size, as is commonly believed.
But these factors all work together. If you’re willing to go for a slightly smaller stone, you might be able to afford a stone with better clarity. If you are worried the stone is a shade too warm, you could always pair it with yellow gold, which will de-emphasise the colour.
Like with all expensive purchases, we’d recommend you study up, shop around, and make your purchase with a reputable seller.