Is 10k Too Much For An Engagement Ring? – Detailed Answer

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How much is too much money spent on an engagement ring?  

And even if the ring is the very best and it means the world to you and your partner, is 10k too much?

What would you consider your highest limit with regard to how much money you can spend on an engagement ring?

You may also wonder if you should spend a lot of money on an engagement ring.

Well, this article shares some insights into engagement ring pricing, and we’ll also guide you on how to buy the best engagement rings and get the best value for money off your purchase.

We’ll also share some financial tips to guide you when looking for that engagement ring.


Is 10k too much for an engagement ring? Why?

Is 10k Too Much For An Engagement Ring

It depends. If you can afford it and 10k is pocket change for you, then that is the right amount you should spend on the engagement ring.

However, if you cannot afford it and maybe you don’t even have 10k saved up for emergencies, or you would be overstretching yourself by buying a 10o engagement ring, then that 10k is a tad too much.

That said, you also need to take into account the fact that the 10k that you may spend on the ring doesn’t really reflect on the value of the ring, and you’d be surprised to learn that the super expensive engagement ring that you are considering is actually made of materials worth a few hundred dollars.

Is 10k Too Much For An Engagement Ring

Remember that most jewelry especially rings made with diamonds, are not worth much. Most of them will be worth about or even less than half the purchase price of the ring immediately after the ring leaves the store, and in most cases, the diamond rings get their value for the metals that they are set with, especially when the ring is set in 14k or 18k gold.

Ultimately, gold is where the jewelry gets its value from, which is why you should think of the real value of the ring before the purchase, regardless of your budget or financial status.

Remember that when it’s all said and done, 10k is really a considerable amount to spend on a ring that you could easily lose or something that will not be worth much after some weeks.

Is 10k Too Much For An Engagement Ring

Don’t be fooled; regardless of the carat weight, the cut, clarity, and the stone’s color, diamonds don’t appreciate. Buying the most expensive diamond expecting a good return from the sale after some months or years is really like buying a leaking boat.

So, if you are wealthy and you’re certain you won’t miss the 10k, and if you are sure your partner will appreciate wearing that beautiful ring, you could buy the ring. Otherwise, many other affordable, well-designed, stunning engagement rings are worth much less.

Is 10k Too Much For An Engagement Ring

 Something else to think about would be that marriage is one of the most expensive endeavors you ever engage in. Spending a lot of money on the engagement or wedding when you are not set financially is a bad idea.

With that in mind, the highest amount we recommend spending on your engagement ring is $1000. And finally, you should never finance an engagement ring or any part involving your wedding.


What Does A Real $10,000 Engagement Ring Looks Like?

Is 10k Too Much For An Engagement Ring

Should you ever have the capacity to spend that $10,000 on an engagement ring, you’d want to make sure that the ring looks right. So, what should you expect from a $10,000 engagement ring? Granted, you are not a duchess or Jennifer Lopez; a 10k ring is not a cheap thing to spend your money on.

As mentioned above, 10k is a whole load of money, and spending that much is a huge splurge; before you pass harsh judgment, the 10k ring looks incredible.

The main feature that stands out from this valuable ring is the fact that it boasts a huge stone with the best qualities based on the 4C factor.

Is 10k Too Much For An Engagement Ring

The stones boast the most brilliant cuts, the highest level of clarity, often with no inclusions and no fluorescence, and also in picture-perfect color shape. The ring may have additional small diamond stones alongside the bigger center stone.

And most importantly, such expensive engagement rings are made using the finest quality stones, often 18k gold and platinum.

Is 10k Too Much For An Engagement Ring

Also, big-name brands like Tiffany & Co sell most of such pricey engagement rings. The ring may also belong to one of the popular collections by the brand.

The specific features of a 10k engagement ring include:

.8 Carats, E color grade, VS1 clarity grade, and AGS 000 round-cut hearts $ arrows diamond. But that is not all; this .8-carat diamond boasts the finest setting details, including the fact that it’s constructed out of hand-forged platinum, Milgrain pavé, and claw prongs holding a cushion-shaped halo. Note that most 10k engagement rings are made using large stones, weighing at least 1 carat.


What diamond brands can you buy if you spend $10000?

Is 10k Too Much For An Engagement Ring

  • Blue Nile– This is the biggest diamond brand boasting the widest range of high-quality diamond rings, and if you are looking for an elegant ring worth the money, say if you want to spend about 10k, then the Blue Nile is the perfect site for you to shop from.
  • James Allen– This brand offers large diamonds between 1.5 and 2 carats, set in 18k yellow and white gold or platinum, and these rings all cost 10k or more.
  • Tiffany & Co.– Tiffany & Co is the biggest luxury jewelry brand worldwide, and if you are looking to splurge 10k on an engagement ring, then this is the ideal brand for you to shop from.
  • Cartier– You may also want to buy an expensive engagement ring from Cartier
  • Harry Winston– The HW brand offers the largest collection of diamond rings, and they are worth quite a lot.
  • Chanel– you could also find an expensive 10k engagement ring from Chanel.

How much should a man spend on an engagement ring?

Is 10k Too Much For An Engagement Ring

Well, it all depends on your earnings, but in most cases, it is recommended that you spend a maximum of a month’s income on the ring.

However, you need a little more details on the same, meaning that if you make $1000 monthly, you’d have to spend about $2,000 on the ring or $5000 on a $2,500 monthly income.

Across the US, men spend an average of $7,750 on engagement rings, as reported by Credit Monkey. Even then, this average is essentially on the higher side, and for most people, the median price for engagement rings is $3,000.

That said, you should only spend what you can afford, rather than what the internet demands or recommends. You and your spouse know exactly what matters to you, and we agree that it’s not always worth investing too much in the ring.


How much money should you save for an engagement ring?

Is 10k Too Much For An Engagement Ring

Your earnings and budget will always point you in the right direction where this is concerned. But in most cases, your savings depend on different other factors, including your salary, current lifestyle, and whether you have any existing debt or not.

Most people spend about 4% of their total annual pre-tax income on their engagement rings, and for the average person, the ring are worth about 2 months’ salary. So, you’d have to come up with a budget to save for the ring without having to overstretch yourself.

That said, you shouldn’t feel pressured into this rule of buying a ring worth two months’ salary. This rule is quite outdated as it was put forth by De Beers, and since we’re no longer in the 1950s, save for the ring at your pace and spend an amount you can comfortably use on it.


Tips for buying an expensive engagement ring (More than $10,000)

If you are planning to splurge on an engagement ring, you may want to consider the following:

1. Shop for the ring from a reputable seller

Is 10k Too Much For An Engagement Ring

Since you are spending bank on the ring, you need to make sure that the seller is authentic and that they can guarantee the best quality rings for your money.

With that in mind, you can find multiple sellers online today, but to ensure the best value for money, you’d want to shop from reliable brands like Blue Nile, James Allen, Brian Gavin, Tiffany, Chanel, Cartier, or any other top-rated brand.

Shopping from a renowned brand means your money is protected because they often offer lifetime warranties for their products, and you’d also enjoy a 30-day return policy.


2. Certifications

Is 10k Too Much For An Engagement Ring

Besides shopping from a reputable store, you may also want to ensure that the engagement ring comes with the appropriate certification, either in the form of a GIA certification or an AGS Certificate.

The certification is important because it means that the diamonds have been certified and graded by a renowned gemological lab.

Often, these labs will certify the diamond rings based on the cut, clarity, color, fluorescence, carat weight, and other characteristics of the stone that may affect the ring’s value and appearance. The certificate will also have the serial number of the diamond.


3. Avoid the temptation to finance the purchase

Is 10k Too Much For An Engagement Ring

Even though some people recommend doing this, we don’t think it’s a good idea to take on debt to buy an engagement ring, especially if you have other unpaid debt.

If you cannot really afford that expensive ring, you shouldn’t buy it. Many other affordable engagement rings on the market are also made and look just as good. You may also have a family heirloom, then redesign it for much less.

Keep in mind that at the end of the day, the most important thing for you is the lives you will lead together after the engagement and wedding, and instead of spending money on a ring you cannot afford, you should spend more money building a life together.


4. 4Cs

Is 10k Too Much For An Engagement Ring

Even with a $20,000 budget for your engagement ring, the most important quality that guides your purchase would be the qualities of the diamond – we are talking about the color, cut, carat weight, and clarity of the stone.

These qualities will help you to determine what stone is ideal for you at different budgets. You could seek advice from the pros, but all experts will recommend choosing diamonds based on the cut; you should prioritize the stone’s cut as it determines its sparkle.

You may, but you should be careful not to compromise on the clarity and color of the stones. For a bigger budget, you could buy a ring with a higher karat weight diamond at about 1 carat or even something bigger.


5. Pay cash for the ring

Is 10k Too Much For An Engagement Ring

It is ideal to pay cash for an engagement ring because you won’t have to worry about its cost any more, and also because most jewelers offer great discounts on cash purchases.

Even when you can spend over 10k on an engagement ring, we reckon everyone appreciates a good discount on their investment. For this to work for you, you should save up the cash for as long as necessary.

Saving is ideal because we believe getting engaged is a big deal and not something you just wake up doing.  And so, you should plan and give yourself enough time to save for the ring. It would be best if you also considered getting an extra source of income.


6. Get a loan (only if necessary and if you can afford it)

Is 10k Too Much For An Engagement Ring

While this offers an easy way out, it’s not ideal.

However, if you can afford a personal loan to buy the ring, and if you don’t have any other outstanding debts, a loan that you can comfortably pay off in a year or less would be a good bet for you.

But just to reiterate, getting a loan may not be your smartest move.


7. Get it insured

Is 10k Too Much For An Engagement Ring

Like any other big purchase, you’d want to protect your investment and the expensive ring needs to be insured.



For most people, 10k is a lot for anyone to spend on an engagement ring, especially because most people spend at least $6000 on the ring.

But this doesn’t mean you shouldn’t spend 10k or even more on the engagement ring.

If you can afford the ring, there is no harm in spending as much on it.

For more ring topics, please visit here or here!

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