Platinum Modern Engagement Rings

You may have heard the rule that you should spend 2 or 3 months of your income on your engagement ring, but this rule was just a marketing ploy created by De Beers. Your spend should be based on your budget and the type of engagement ring you are looking to buy.

1. Budget - how much you are willing to spend on a ring
2. Ring Style - are you looking for a classic ring or maybe a vintage ring?
3. Metal - rings can be made of platinum or different types of gold
4. Shape - the shape of the center diamond in your engagement ring
5. 4 Cs - the color, clarity, cut and size of your diamond are important criteria in choosing your diamond

For natural diamonds, the average cost is around $6,000 and the average carat weight is 1.25 carats. For lab grown diamonds, the average cost is $4,000 and the average carat weight is 2.5 carats.

Since gold is too soft to be used in a ring, it is often mixed with other metals. The purity of gold is measured in karats. One karat is one part out of 24. Therefore, 24 karat gold is 100% gold (24/24), 18 karat is 75% gold (18/24), while 14 karat is about 58% gold (14/24).

Platinum is a very popular choice for engagement rings. It is the most durable out of the engagement ring metals and is naturally white so it does not require rhodium plating.

The price of precious metals are constantly fluctuating. However, platinum rings are usually made of 90-95% platinum, while gold rings are typically made of only 75% gold (for 18 karat gold) or less. Therefore, platinum rings are typically more expensive than gold rings.