When searching for an engagement ring, solitaires are among the most popular style out there. Solitaire rings, or rings with one single stone, are classic and elegant. These rings can cater to your simplistic tastes, be a canvas for your own creation, or just be a starting point for something you plan to build on in the future. Apart from their beauty, solitaire rings also offer a decent range in price, making them some of the most affordable rings.
Many factors influence the cost of an engagement ring. For a solitaire diamond ring, the average cost will range from $500 to $2,500.
If you're searching for a solitaire ring but aren't sure where to begin, then you've come to the right place! We've put together a guide on what you can look for in choosing a ring and how those factors will influence the cost of a solitaire engagement ring. Just keep reading.
The Cost Of A Solitaire Diamond Ring
Solitaire rings are by far the most popular choice of engagement rings. These single stone rings are simple, but that doesn't mean they are dull. Although they only contain a single diamond, there are different carats, diamond shapes, and setting styles that can create a unique and gorgeous ring. All of these factors work together to influence the price of the ring. So before you shop, research what types and styles of solitaires fit into your budget.
It's a common misconception that carat refers to the size of a diamond. Instead, carat is determined by the weight of the diamond, not how big or small it is. It's also important to note that carat size does not correlate to the prettiest diamond, as cut and clarity have a huge impact on that as well.
Carat price is determined by weight because heavier carats will have to be sourced from larger stones that aren't as easy to find as smaller stones. So the rarity is what creates the increase in price.
What is the most popular carat size for engagement rings?
The most popular carat sizes for engagement rings range from 0.5 to 1.2 carats. When you're looking at an average of roughly $2,500 per carat, that falls on the high end of the average cost of a solitaire ring. To reach the lower end of the average, you can look for diamonds that fall in the 0.3-carat range.
When searching for an engagement ring based on carat, take into consideration how each carat looks with different rings. When you purchase a ring with multiple diamonds, the carat weight isn't per individual stone, but as a whole. This is called carat total weight. More stones mean a larger and more intricate setting. So you do save money when purchasing one stone in the same carat value as multiple.
Much like with carat weight, the diamond shape will influence the price of the ring based on the amount of raw material needed to create the shape. The more raw material that will need to be sourced for the cut, the more expensive the diamond will be.
What diamond shape is the cheapest?
"Fancy" shaped diamonds are the cheapest cuts because they require less material to create. Radiant, emerald (pictured above), and asscher are among the least expensive cuts. They are similar in their square or rectangular shape with flat corners and they contain many cuts and facets. They can be upwards of $2,000 cheaper than a round cut diamond.
Princess cut diamonds are slightly more expensive than the cuts listed above since they are more solidly shaped like a square. Fewer cuts and facets mean more material needed and more expense to you. However, the princess cut is among the most popular choices.
Which diamond shape is the most expensive?
Round cut diamonds are the most expensive shaped diamonds you can purchase, followed closely behind by heart and pear shape. Their solid shapes aren't able to be formed from smaller stones.
Settings are how the diamond or stone is placed in the ring. This will have a smaller impact on the pricing of the ring, but the more intricate the setting is, the higher the cost. Setting can impact ring price on an average of $75 to $250 dollars.
A split shank setting has a band that splits in two to encircle the diamond. This is one of the more popular settings as it allows room to add more stones if you choose. This setting on a solitaire is often delicate and simple and will sit closer to the hand.
High-profile, or cathedral, settings mimic the structure of a cathedral's ceiling, in that it arcs and raises the diamond higher from the band than other settings. Catherdral settings allow for intricacy and unique designs. However, some find that diamonds that stick out farther from their hand can be cumbersome.
Four or Six Prong
Prong settings generally have a four or six prong crown, usually dependent on stone size, that extends from the band to hold a solitaire diamond in place. This is another setting that sits higher off the hand.
A knife-edge setting is flat on the inside, like any typical ring. However, the outside of the band pushes outwards to more of a point as it reaches the diamond. This draws attention straight to the diamond, making it the star of the show.
Created by Tiffany & Co., this setting is by far the most popular setting choice. It combines the point shape of the knife-edge setting with the six-prong setting. The goal of this setting is to lift the diamond off the band, make it the focal point, and expose the stone to as much light as possible for optimum shine.
Why are solitaire rings the best?
Solitaire engagement rings are among the best choices because of their ability to be classic and simple but can be dressed up as well. With a solitaire ring, you can opt for a more intricate wedding or anniversary band for a balance of styles.
When you focus on the stone, you are investing money in the diamond more than the ring. This means in the future you can easily choose a more detailed band or setting, add stones, and build on your original diamond if you choose.
There's truly something for everyone with a solitaire ring. The ring alone is elegant and classy for those who prefer a more modest piece of jewelry. For those who want something more, you have options to expand and continue to create something special over time.
What is the most timeless engagement ring?
The most timeless engagement ring shape is a princess cut. These square-cut diamonds can be in a solitaire setting or embellished. It's versatile, elegant, and classic. Even though the trends of circle cut and cushion cut diamonds have come and gone over the past decade or so, the princess cut has outlasted them all and will continue to do so.
Even with the simplicity of a single stone ring, there are many factors that will affect the look and price of a solitaire ring. From carat size to cut, and even the setting you choose for your diamond, there are so many options for creativity. Solitaire rings are a perfect place to start when engagement ring shopping, as they can cater to most budgets and have tons of flexibility in style. Just remember, this is your (or your significant other's) ring, and whatever you choose will be perfect for YOU.
Solitaire rings aren't just for diamonds. If you're considering other stone options, check out this post: Do Moissanite Rings Last?
Need some know-how on engagement rings? Head on over to this post: What Are Engagement Ring Rules?