The Average Price of an Engagement Ring in 2025

Update: Serendipity Diamonds estimates the price of an engagement ring in 2025 to be £1500, based on the last 2 years’ sales, with Platinum 1-carat lab-grown diamond rings proving the most popular choice.

“We surveyed ring purchases in the £600 to £10,000 price range over the last two years. The average cost of an engagement ring was £2000.”

Mark Johnson, Founder.

With a radical shift in buyer habits and the introduction of lab-grown diamonds, many younger buyers can now afford larger diamonds at a significantly reduced ring price.

How does the price compare to an average salary?

The average ring price is related to many people’s average monthly take-home pay. As a rule of thumb, many buyers allow a month’s salary for their purchase.

According to the Office of National Statistics, the average weekly earnings are £ 648 total pay before tax. This works out to approximately £2500 gross pay per month or approximately £2000 net pay per month.

One month’s salary – and the traditional rule-of-thumb

The “one month’s salary rule” provided many buyers with a traditional guideline for spending an amount equivalent to one month’s salary on an engagement ring.

The rule originated from diamond retailer De Beers in the 1930s as part of a marketing campaign to promote diamond engagement rings. But, some organisations even attempted to suggest a 3-month rule.

At the same time, it’s important to note that the “one month’s salary rule” became a social convention for anyone budgeting for an engagement ring.

What has changed in 2025?

Over the last year, engagement ring options increased dramatically. Firstly, the adoption of lab-grown diamonds radically increased the size of a £2000 diamond ring. As a result, larger diamonds became more affordable and appealing to buyers.

For example, a natural 1-carat diamond engagement ring costing £20,000 now costs around £1500 set into a Platinum ring design.

The Rise of the Engagement Ring Builder

Take a look at our engagement ring builder. This tool combines beautiful ring designs with an incredible diamond search to generate the perfect ring. Options include lab-grown diamonds alongside natural diamonds.

Combine a search for the perfect ring style with a worldwide inventory of diamonds in our latest ring builder.

Next, profit margins vary considerably from one jeweller to another. For example, some jewellers with fewer overheads can apply a smaller margin than a London boutique jeweller with higher overheads.

Factors Affecting Engagement Ring Cost

Several factors affect the cost of an engagement ring. The following table outlines several of the most important factors influencing cost.

How much should you spend on your engagement ring?

The following chart shows 100 of our most recent engagement ring sales from 2024-2025 and the wide price range. Notice how the majority of sales fall between £ 1,000 and £ 2,000.

Compare this chart to the first one published in this article, which was based on 50 x ring sales in 2023.

Consider your finances before you choose a ring.

Before buying a ring, carefully consider your financial situation. Everyone’s financial position differs based on personal circumstances. Income, existing commitments and credit status all vary from one person to another. 

In the UK, many buyers take advantage of finance, more importantly, 0% finance. For this reason, we introduced a variety of Klarna Bank options. Whilst only available to UK buyers, a range of 0% finance options exists, all subject to application. We send clients a link to apply based on their chosen ring design and specifications.

Examples of average-priced engagement rings.

Based on the average diamond ring in the UK, we decided to add several choices to meet this budget. In addition, we offer several hundred ring styles and a bespoke service.

What is the average cost of a lab-grown diamond ring?

Sales of lab-grown diamond engagement rings soared in 2025. As a result, lab-grown diamonds continue to provide an identical yet affordable alternative to natural diamonds. At Serendipity Diamonds, we create rings set with natural and lab-grown diamonds in a wide range of qualities. By way of example, a 1-carat natural diamond ring for £6000-£10,000 will cost around £1500.00 when set in 950 Platinum.