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How much to spend on an Engagement Ring

Like many men, if you are here, it is probably the first time in your life that you have entered the jewelry industry. And by now you may have already realized that in prices the sky is the limit.

The stone you choose can skyrocket the price considerably depending on the size, shape or design of the ring in general. Looking for jewelry is similar to buying a computer, the price will vary considerably depending on your tastes, needs and specifications.

 

Perhaps that is why the myth of the "3 months salary worth" arose, to simplify the selection process. But the reality is that we all have different styles and needs in life.

So we will give you a very simple formula that has helped our clients determine their budget to acquire an incredible ring without going into debt in the process:

 

  1. You have to decide how you would like to make the payments. For this there are many ways: cash, partial payments, credit cards, etc. Analyze which option is the most feasible for you.
  1. Set your maximum budget. To do this, first consider how much you could pay in cash. And then add up how much you could be paying monthly for 6 or 12 months if you decided to pay in installments.

For example: imagine you have $25,000mxn in savings that you could pay in cash, and you could pay $2,000mxn per month for 9 months ($ 18,000mxn). Adding these monthly payments with your savings, the total budget would be $43,000mxn.

  1. Set priorities. Determine if for you (and your partner) it would be more important:
  • The center stone size.
  • The Type of Gemstone (diamond or color stone).  
  • Shape and Stone Cut (classical round or fancy shape).
  • Color and clarity.
  • Or the design of the ring in general (if you want an incredible design or a more classic and simple piece).

For example, if you have a limited budget, you may consider sacrificing a stone budget in favor of a great design that reflects the personality of your partner; or vice versa, having a very simple setting and a stone of a larger size or quality.

With these 3 steps in mind, it will be easier to approach a jewelry store and have an expert show you the options you have according to your budget.

And remember, at Ikcha we specialize in customization, so if you want to talk to one of our experts we can gladly help you to immortalize the ring of your dreams!

Anillo de Compromiso

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