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Even with a budget of $1,000 or less, you will still be able to buy a beautiful and elegant diamond ring. By knowing where’s best to allocate your budget, you can easily come away with a gorgeous engagement ring without spending too much.
It’s a good idea to narrow your search to solitaire settings in 14K white gold, in order to leave enough room in your budget for a high-quality diamond. By doing so, you may be able to afford a diamond as big as half a carat, such as this gorgeous 0.51ct cushion cut diamond from James Allen or this beautiful 0.51ct emerald cut diamond from Blue Nile. Half a carat diamond ring looks big enough to wow your family and friends.
Focus on finding a diamond that is eye-clean and colorless, and consider going with a less common diamond shape, such as an Oval, Pear, or Emerald Cut, which are generally cheaper per carat than round diamonds and appear bigger at the same carat weight.
Don’t feel like your budget is going to limit you from picking out the perfect ring for the perfect person in your life. Go to James Allen or Blue Nile when you decide to start your search for a $1,000 engagement ring and feel free to contact our experts for assistance along the way.
Think You’re A Diamond Pro?
Both of these are 0.70ct H color diamonds.
One is an SI1 clarity and costs $2,758.
The other is VS1 and costs $2,940.
Can you tell which is which?
For a lot of people, the price of a diamond ring is nothing to take lightly. Movies and marketing may make you believe that it’s necessary to spend thousands on an engagement ring. But realistically, you should only spend what you have the budget to afford.
Luckily you don’t need thousands of dollars to spend on a beautiful diamond ring. A $1k diamond ring can still look stunning, as long as you prioritize spending in the right areas.
When the ring is on your fiancé’s hand, no one will be able to tell that your budget was limited, and your marriage won’t start with financial problems off the bat.
Check out our recommendations below as we help you pick out a beautiful $1000 engagement ring.
You don’t need to spend a fortune to buy an engagement ring. In fact, according to data reported by jewelry industry publication Rapaport.com, eight percent of people spend less than $1,000 on their partner’s engagement ring (around a third spend $1,000 to $4,000).
According to diamond industry analyst Paul Zimnisky, spending less on a diamond ring is more common for younger couples. Rapaport.com
Don’t fret budget for an engagement ring only goes up to $1,000, you should begin by setting realistic expectations. In our article discussing how much money should you spend on an engagement ring, we explain that a large percentage of people we help get engagement rings for under 1k. You’re not going to get an extravagant, multiple-carat diamond ring while staying within your budget. However, as long as you prioritize the right things, you’ll be able to afford a diamond ring that shines as it should.
The first thing to understand is the relationship between price and carat weight. Carat is the biggest driver of price with diamonds. And the price per carat increases the higher it goes, meaning a 0.50 carat diamond costs less per carat than a 1 carat diamond, which costs less per carat than a 2 carat diamond, and so on.
With a budget of $1,000 or less, you’ll be looking at diamonds in the range of 0.40 to 0.60 carats. This may sound low, but it’s definitely enough to make a gorgeous ring.
For a $1,000 engagement ring, you’re almost always looking at a simpler setting, letting you put the bulk of your money towards the diamond, which is the most important part of the ring.
By sticking to a simple solitaire setting, an inexpensive metal like 14K white gold and a modestly sized diamond, you won’t have to compromise on Diamond Cut, Color and Clarity, resulting in a beautiful diamond ring, like this 0.50 Carat, H/SI1, Cushion Cut Diamond in a classic solitaire setting for just $967 all up.
A $1,000 engagement ring should be simple and unflashy. But by no means does that mean you can expect a mediocre ring. While $1,000 can’t afford a huge diamond or an elaborate setting, size and flair are not everything. Often the most beautiful diamond rings are the simplest.
A solitaire setting is basic, uncomplicated, yet elegant. Solitaire engagement rings never go out of style, so this is a great way to start out, allowing you to keep the cost down.
This knife edge solitaire setting, for example, is $240 in 14K white gold. That gives you just under $800 for a diamond. You can manage to find a 1/2 carat fancy shape or a 0.40-0.45ct round diamond in that range.
With non-standard diamond shapes, you’ll have a ton of options within your budget. This 0.50 Carat, H/SI1 Cushion Cut Diamond, paired with a solitaire setting comes in at a little under $1,000.
The sweet spot in carat weight for a $1,000 diamond is between 0.40-0.50ct. This allows for passable grades in other areas, ensuring you’re not sacrificing too much in quality, just to get the largest diamond possible.
There’s no way you’re going to get a 1 carat diamond ring under $1,000. But size isn’t everything – it’s more important to focus on finding an eye-clean, colorless diamond that displays fire and brilliance.
See these examples for more idea of what’s possible in terms of Carat weight for an engagement ring under $1,000:
In a $2,500 engagement ring there is a lot more room to play with in terms of setting and carat weight, compared to a $1,000 budget.
If you’re able to spend up to $2,500, you could take the same diamond you would for a $1,000 engagement ring, but match it with a more extravagant setting like this Three Stone Micropavé Setting, for just over $2,500. Or you can search for a larger diamond.
While the center stone is the same as it would be for a $1,000 diamond ring, the accent diamonds (making up 0.20 total carat weight) add more brilliance to the overall ring itself, compared with a simple solitaire setting.
With a $2,500 budget, you could also spread the additional money around, going a little higher in Carat weight with a slightly nicer setting.
Understanding the way diamonds are graded, and how it affects their price, is crucial to help you get a beautiful ring without overpaying.
With Color and Clarity, you can afford to settle for a lower grade, in order to save money that can be put towards other areas. Diamond Cut, on the other hand, is an area in which you should not settle.
On top of this, you’ll have the choice of a range of different diamond shapes, which can affect price and value as well.
Here’s a rundown on what you should look for in Cut, Color and Clarity for a $1,000 engagement ring.
Diamond’s cut is the most important aspect of a diamond, and is something you should never compromise on. Poorly cut diamonds are not worth buying, as they won’t have the fire and brilliance diamonds are known for.
Stick with an Ideal or Excellent Cut grade when you’re shopping for a diamond. A lower cut grade may save you money, but it will end up looking dull and lifeless, and not how you expect a diamond to appear.
Conversely, it’s easy to overpay on Color and Clarity. While you don’t want to go too low in Color or Clarity, higher grades come at a premium in price, with little to no visible difference.
The GIA grades diamond color on a scale from D to Z, with D, E and F considered “colorless.” Going further down the scale results in slightly more color, but this is rarely visible — particularly in a small diamond — until you get into the J+ range with many diamond shapes.
Look for a diamond that is eye-clean and appears colorless. For Color, this is likely to be in the H-J range, while an eye-clean diamond should have a grade of VS1/VS2, or possibly as low as SI1. This indicates there are very small imperfections on the diamond, which are hard to notice for the naked eye.
The good thing is that with a smaller diamond, you can afford to go a little cheaper in Color and Clarity, as it will be harder to spot any issues. Flaws on a VS2 diamond are likely to stand out more on a 2 carat diamond, than a 0.50 carat diamond.
Regardless, make sure you inspect the diamond yourself to see how it appears, rather than going off the grade alone.
The shape of a diamond you choose is generally down to personal preference. Certain shapes are not considered better or worse than any others.
Consider, however, that round diamonds are the most common and most popular, but also tend to be the most expensive. Thus you can often save money by choosing a less common shape.
It’s just a little below $100 difference, but this can be a big deal, allowing you to spend more on a setting, or to put more towards higher grades in other areas.
Notice, that even though you can go down in color when buying a round cut diamond (for a solitaire setting: J color for rounds, I color for emeralds/asschers, princess cuts and H color for cushions, pears and ovals), the price is still higher.
Certain shapes like Pear and Oval Shapes appear larger than a Round Diamond, due to their larger surface area. This can help you get a bigger looking diamond within your budget, without actually increasing the Carat weight and spending more.
Online jewelers are almost always the best place to buy a diamond ring. Online vendors have lower overhead costs than brick-and-mortar stores, as well as being able to carry a larger range. This means they can offer better value for money, and there’s a better chance you can find a diamond ring that fits your desired budget and specifications.
For diamond engagement rings under $1,000 (or any diamond purchase), we recommend James Allen and Blue Nile.
James Allen are renowned for their range, value, and most of all, their customer experience. They offer excellent service, along with high-quality imagery that makes it easy to inspect diamonds online.
When you shop at James Allen you get the peace of mind of a 30-day return policy and a lifetime warranty, helping you shop stress-free.
Blue Nile is another great choice for buying diamond jewelry online. Their range is second to none, with a massive inventory at great prices. The range of diamonds Blue Nile has on offer means you have a great chance of finding a beautiful diamond within your price range.
Blue Nile also provides a 30-day return policy and lifetime warranty, providing a great customer experience on top of their incredible range.
A $1k diamond ring can be absolutely gorgeous, despite working within certain limitations. The combination of a half carat, eye-clean diamond with a simple solitaire setting is an elegant, timeless look, which you can be guaranteed will look stunning on your partner’s hand.
Below we’ve laid out some examples of beautiful diamond engagement rings under $1,000, to give you an example of what you can get within your budget.
The process of shopping for and purchasing an engagement ring can be nerve-wracking and stressful. It can be even more difficult when you’ve got a relatively small budget to play with.
Our experts are here to help with any questions you have during your process of picking out a $1,000 engagement ring. We’ll help you focus your budget in the areas that really matter, so you can come out with the best purchase for your money.
As long as you know what to look for, and set certain expectations, such as the size of diamond and type of setting you’ll be able to afford, it’s possible to find a beautiful diamond engagement ring under $1,000. Contact us and we’ll help you get your journey started.
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Buying a diamond is confusing. On the surface, it seems like nothing makes sense. Take a look at this 2 carat diamond from James Allen and compare it
We’ve visited and reviewed many diamond retailers, online and offline. In the process, we’ve come across several diamond engagement ring vendors
1ct round cut petite side-stone diamond ring in yellow gold from Blue Nile A wide range of 1 carat diamonds exist both in online markets and local
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