An engagement ring is more than a piece of jewellery it’s a symbol of love, commitment, and the start of a new journey together. One of the most common questions couples ask is how much to spend on engagement ring purchases in today’s market. With so many options available, from traditional diamonds to modern lab-grown stones, understanding the price range can help you set a budget and choose the perfect piece.
Average Engagement Ring Costs in 2025
In Australia, the cost of an engagement ring varies based on factors such as diamond quality, metal choice, and whether the ring is custom-made. In 2025, most engagement rings range between $5,000 and $15,000, though some couples spend more or less depending on their preferences and financial situation.
At DDS Diamonds, we offer rings that balance both affordability and quality—whether you’re drawn to a timeless solitaire or a unique custom design.
What Affects Engagement Ring Prices?
Several factors determine the cost of an engagement ring:
- Diamond demand and supply – Natural diamonds remain popular, though lab-grown diamonds and alternative gemstones have grown in popularity due to affordability.
- Economic conditions – Global inflation impacts the price of gold, platinum, and precious stones.
- Custom vs. ready-made – A custom-designed ring typically costs more due to the additional craftsmanship involved.
At DDS Diamonds, we cater to all budgets and offer both ready-to-wear and bespoke designs.
Engagement Ring Prices in Adelaide, Australia
If you’re shopping for a diamond engagement ring in Adelaide, you’ll find a wide variety of styles and prices. While the national average sits between $5,000 and $15,000, Adelaide jewellers often provide competitive prices without sacrificing quality.
At DDS Diamond Design Studios, we showcase handcrafted designs ranging from classic solitaires to intricate vintage settings. Each piece is created with exceptional craftsmanship, ensuring you find a ring that reflects both your love and your budget.
How Much Do Australians Typically Spend?
On average, Australians spend around $5,300 on engagement rings. The amount varies depending on lifestyle and location—major cities like Sydney and Melbourne often see higher spending, while Adelaide and Perth tend to be slightly lower.
Here’s a quick breakdown:
- Budget buyers: $3,000 – $6,000
- Mid-range buyers: $6,000 – $10,000
- Luxury buyers: $10,000+
At DDS Diamonds, we believe there’s no “one-size-fits-all” answer. The right ring is the one that matches both your financial comfort and your partner’s style
2024 vs 2025 Engagement Ring Spending
In 2024, most Australians spent between $5,000 and $12,000 on engagement rings, with lab-grown diamonds and coloured gemstones contributing to more affordable options. Moving into 2025, customisation remains a major trend, with couples opting for personal touches such as engraved messages, unique cuts, and bespoke settings.
Factors That Determine Diamond Prices
The 4Cs—cut, colour, clarity, and carat—play the biggest role in diamond pricing:
- Cut: Impacts brilliance. Round diamonds are most expensive, while ovals and cushions provide excellent value.
- Colour: Diamonds graded D–F (colourless) cost more, while near-colourless (G–I) offers great balance.
- Clarity: VS1–VS2 clarity diamonds look flawless to the naked eye without the higher price tag of perfect stones.
- Carat weight: Prices increase sharply with carat size, though halo or elongated cuts can give the illusion of a larger stone.
Lab-Grown vs Natural Diamonds
Lab-grown diamonds are popular for being budget-friendly and ethical, but they have downsides such as lower resale value and reduced rarity. At DDS Diamonds, we specialise in responsibly sourced natural diamonds, ensuring your ring maintains long-term value and timeless beauty.
How Much Should You Really Spend?
The old “three months’ salary” guideline is no longer relevant. Instead, decide based on your budget, priorities, and lifestyle. Some couples focus on size, others on quality, and many on unique design. The key is finding the right balance that feels meaningful without financial strain.
Why Choose DDS Diamonds in Adelaide?
At DDS Diamonds, we pride ourselves on:
✅ Expert craftsmanship – Every piece is made with precision and care.
✅ Custom designs – We bring your vision to life with bespoke creations.
✅ Ethically sourced diamonds – High-quality, conflict-free diamonds.
✅ Personalised service – A guided experience from start to finish.
Visit our Adelaide showroom to explore our stunning collection and find the ideal diamond engagement ring in Adelaide for your love story.
FAQs
Q: How much to spend on engagement ring purchases today?
A: There’s no fixed rule. Most Australians spend $5,000–$15,000, but it’s best to set a budget that feels comfortable for you.
Q: What is the average cost of a 1-carat diamond?
A: A 1-carat diamond in Australia ranges from $6,000 to $15,000 depending on cut, colour, clarity, and shape.
Q: Are gemstone engagement rings cheaper than diamonds?
A: Yes. Sapphires, emeralds, and other gemstones often cost less than diamonds, though pricing depends on the stone’s rarity and setting.
Q: Which hand should the engagement ring be worn on?
A: Traditionally in Australia, engagement rings are worn on the left ring finger, either alone or alongside the wedding band.