haban01 wrote:Just curious guys because I am a single person and may someday get married, what does a 2 KT ring cost? (price range)?
This has to be the hardest thing to do for a cost conscious person that shaves off tenths on our expense ratios!!
Happy New Year!
There is a huge range based on quality of diamond. You can get a high quality designer band (i.e. non-plain) for 5-7k but the diamond price has huge variations.
For a high quality 2 carat diamond, it could be around 40,000$ (depending on cut, a perfectly cut round is going to be expensive) so about 50,000$ in total for the ring at the high-ish end (not top end, obviously). A lower quality diamond with a different cut can bring the price down dramatically. If you are just going for size the price of a discolored, poorly cut, and heavily flawed 2 carat diamond can be as low as 8,000$. These are the diamonds where it looks like you picked up a rock out of a stream and stuck it into a setting. At that quality of diamond I would just suggest getting a CZ until you can afford a decent diamond.
I don't know for sure why women like this stuff but after talking to more than a few about it, the primary thread between why they want an expensive engagement ring (along with the designer hand bags, etc) is to make other women jealous. Not exactly a virtuous motive. This takes some time to unravel because for a large cross section of women buying overpriced designer stuff is like a reflex instead of a considered decision. Almost like birds putting fancy garbage onto their nest.
Anyway, if you are going to be buying a 50k engagement ring, I hope you are making some serious money (250k + executive level benefits at least), otherwise you are probably going to regret it big time.
1) Correct that there is a huge range. As I said before, you should NEVER sacrifice cut. A well cut diamond will outperform a diamond of a lesser cut. It's just plain optics.
But it depends a lot on your (and your girlfriend's) personal preferences. Is she color sensitive? Then you may have to pay more for a colorless diamond (D, E, F colors) instead of going to the near colorless range (G, H, I, J) and saving some money (and I would count G and H as high end colors too, just not as much as high end as D, E, F). If you can find an eye-clean SI1, you'll save money. If inclusions in the SI1 aren't visible to the naked eye, why pay more for an IF (internally flawless) which jacks up the price by $$$. High end is a tricky standard (TOP end is not - and TOP end could easily go to the $40-50K range).
And as I mentioned before, it depends on the diamond cut/shape (rounds v. princesses v. asschers, etc.). Rounds tend to be pricier because there are a lot of symmetry issues involved - to get a well cut diamond that really performs, there's a fairly narrow range of crown and pavilion angles, and table and depth percentages to stay within.
2) In my previous post, I pointed to a 2 ct. H SI1 which I still consider high end. In terms of cut, you won't find better and the color and clarity are fine. That was $20K I believe. And $10K for a setting is extremely generous, unless she wants something very complicated - i.e. a micropave halo, or a designer setting like a Tacori. A very cheap white gold setting will run you about $300. A nicer plain solitaire setting will be about $1K. Now if she wants to add sidestones or melee diamonds, etc. that'll definitely up the cost, but you can get a setting for MUCH cheaper than $10K, depending on what she prefers.
3) And finally, sure, there is an element to wanting to impress your friends with your amazing huge ring. But there are other factors - does she have big hands? Larger fingers? I have friends who do, and a 1 ct. or smaller would look lost on them. They want a 2 ct. for proportions. :p