What comes to mind when you think about an engagement ring? Expensive, right? Well, you're not wrong. A quick Google search will reveal that the average cost of an engagement ring is around $5,000. Depending on your income, that could be an impossibly large amount of money!
When it comes to engagement rings, the old saying holds true: you get what you pay for. An engagement ring is a symbol of your eternal love and commitment, so it's no surprise that the best ones come with a hefty price tag.
But why are engagement rings so expensive? In this article, we'll take a look at the reasons behind the high cost of engagement rings. So, if you've ever wondered why engagement rings are so expensive, read on!
1. The Materials Used Are Expensive
The first reason is the materials used. The vast majority of engagement rings are made with diamonds, which are one of the most expensive materials on the planet. And not just any old diamonds – the best quality diamonds that are expertly cut and polished to perfection. The cut, color, clarity, and carat weight of the diamond all contribute to its value.
But if you think the diamonds are the only reason why engagement rings are expensive, you are wrong! The ring setting and the metal band also add to the final cost of the engagement ring.
The Setting Of The Ring
The ring setting is what holds and keeps the diamond in place. It can be made from a variety of different metals, but the best engagement rings are set in either platinum or white gold, which again, adds to the cost. Platinum is more popular, but it's more expensive than gold because it is more rare and harder to find.
The Band Material
The metal band is also a big part of the cost. The durability of the band is important as it needs to withstand a lot of wear and tear. Gold and platinum are the two most popular choices for engagement rings because they are very strong and durable - and they don't come cheap! Platinum is more expensive, but unlike gold, it doesn't tarnish over time.
2. The Craftsmanship Is Skilled And Time-Consuming
But it's not just the materials that make engagement rings so expensive. It's also the craftsmanship that goes into creating each ring. Every ring is made by skilled artisans who spend hours lovingly crafting and designing each one by hand. A lot of work also goes into cutting and polishing the diamond, and setting it into the ring. Gold and platinum rings also have to be made to a very high standard. All of this takes time and skill, and that time and skill comes at a cost.
Where To Purchase Engagement Rings
For a high-quality, beautiful engagement ring, iTouch Diamonds is the perfect place to shop. We have a wide selection of rings to choose from and our prices are very competitive.
To learn more about our engagement rings, or to place an order, please contact us today.