A wedding ring is a token of love and devotion. It is a reminder of the vows taken at the altar and a symbol of your relationship. But buying a wedding ring can be a pricey affair. The average cost of wedding rings in the US is between $3,000-$5,000. How much to spend on wedding bands totally depends on your budget and preferences.
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Factors That Affect the Price of Wedding Rings
The average price of wedding bands for men and women depends on three main factors: the metal type, the gemstone, and the design. Let’s take a closer look at each of these factors.
The Metal Type
The metal you choose for your wedding ring can significantly affect its cost. The three most commonly used precious metals for crafting wedding rings are yellow gold, white gold and platinum. However, at Angara, you can choose from other metals such as rose gold, sterling silver, two-tone metal and a unique, tricolour gold.
Gold is the most popular choice of metal thanks to its timeless appeal. However, the carat weight and purity you opt for can impact the wedding band prices. For example, 18-carat gold is 75% pure gold and 25% alloy metals while 14-carat gold comprises 58.5% pure gold, making it a more affordable option.
Platinum, on the other hand, is 30 times purer and rarer than gold. It’s hypoallergenic and a suitable option for those with sensitive skin. Add to this its durability and longevity, it is priced higher than gold.
Silver is a less durable metal, but it’s your go-to if you’re looking for a budget-friendly option.
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Gemstone
The type of gemstone you choose can also greatly affect the price. Natural diamonds are the most popular choice, followed by lab-grown diamonds and colourful gemstones. A colourless, almost perfect diamond will cost more than a stunning Aquamarine, but diamonds are more durable for daily wear.
However, if you want the brilliance of diamonds at a lower price, lab-grown diamonds are a great alternative. They are chemically, physically and optically the same as natural diamonds, but without the steep price.
If you want a unique ring that tells your story, coloured gemstones like sapphires, emeralds and rubies are a lovely option. Just keep in mind that the price of these gemstones can also vary depending on the quality and carat weight of the stone. Here are some things to consider when deciding on the cost of wedding rings:
- A colourless diamond (D to F) is more expensive than a coloured diamond (S to Z) because of its rarity.
- A flawless stone (FL) is rare and more expensive than one with inclusions and blemishes.
- The bigger the carat weight, the higher the price. However, the gemstone’s cut, colour, and clarity can also affect the price. For example, the cost of a one-carat round, colourless, and flawless diamond can be higher than a two-carat fancy-shaped, coloured, and highly included diamond.
The Design
Lastly, the design is the final factor that determines how much a wedding band costs. A custom-made ring will ultimately cost more than a ready made ring because of the time and labour involved in handcrafting it. Also, a wedding band covered with precious stones will cost significantly more than a plain band. Rings with intricate designs like milgrain or filigree will also cost more given their meticulous craftsmanship.
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Now, to answer the question: how much does the average wedding ring cost? Here is a breakdown:
Average Price of Wedding Rings & Bands
The location and current market trends can affect the typical wedding ring cost. The price in one area/city/state can differ from another. In 2019, the average cost of wedding bands for women was $1,100 and men’s wedding bands cost an average of $510. In 2024, the average cost of a wedding ring is between $5,000 to $7,000.
At Angara, you can get your dream wedding ring for as low as $149 and ranging upwards of $1,00,000.
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Tips for Setting Your Wedding Ring Budget
Now that you have all the information you need about the average cost of wedding rings/bands, you’re probably wondering how much should you spend on a wedding ring. Here are some budgeting tips that will help you:
- Be practical: Consider all your upcoming expenses and current financial situation. This will help you decide how much you can afford to spend on your wedding ring/band.
- Include your partner: Talk to your partner about their preferences and what kind of budget you would like to set for the wedding rings. Have an open and honest conversation to ensure both partners are on the same page.
- Plan early: You should start saving for a wedding ring as soon as you get the engagement ring. Save some money every month, so you’re not overwhelmed in the long run when you have to finally buy wedding bands.
At Angara, you can also find impressive wedding rings under $1000 in unique styles like plain, classic, vintage-inspired and more.
FAQs
1. What is the average cost of a wedding ring?
The average price of wedding rings in the U.S. is around $5,000 to $7,000.
2. What factors influence the price of a wedding ring?
The price of a wedding ring is affected by three main factors: the metal type, the gemstone, and the design. Other factors include the location and the current market trends.
3. Does the style of the ring affect its price?
Yes. The style of your ring is one of the major factors determining its price. Hence, the simpler the style of the ring, the more affordable it is.
