The Complete Guide to Buying an Engagement Ring in 2023

Are you planning to get married in 2023 or maybe propose to your better half? If your answer is yes, you most certainly need an engagement ring. 

Of course, choosing and buying an engagement ring is difficult for a myriad of reasons. That’s why we’ve worked out this guide for you that will help you buy an engagement ring in 2023. 

The Sooner You Buy, the Better

Sometime in mid-2022, diamond prices began to increase. This increase wasn’t a small one. As Bloomberg reported, diamond prices saw an increase of 15 to 20 percent. That means a diamond engagement ring that had an initial cost of $1,000 soon ended up costing around $1,200. For someone getting married, this increase in the ring’s price can have a significant effect on their overall wedding budget. 

Experts predict that diamond prices are likely to increase in 2023 as well. Not only diamonds but other gemstones are also likely to increase in price. The war in Ukraine, U.S.-China tensions, and the overall issues with the global supply chain are all to blame for such an increase. 

Therefore, the sooner you buy your ring, the better it will be for you cost-wise. Expect an initial increase in early-2023. Sometime in the middle of this year or even in the later half, there might be another price increase. 

If you’ve planned your wedding, or at least know it’s going to take place soon, buy that ring. Popular ring bands like platinum or white gold might also increase in price, so you should decide on the band as well.  

Opt for Colorful Stones

Diamonds are the most popular choices whenever someone thinks about engagement ring gemstones. However, that doesn’t have to be the case in 2023.

You should consider opting for colorful gemstones, which are often considered to be fancier than diamonds. Think about rubies and emeralds. These gemstones look great and bright and are also unique. You might even consider colored diamonds like red, blue, or pink diamonds. For a more classy and elegant appeal, opt for a sapphire ring.  

You can check out the sapphire rings in Leibish’s 2023 collection. These are by far some of the best sapphire engagement rings you’ll come across this year. This is not only in terms of quality but also in terms of the rings’ overall designs and aesthetics. 

Besides, once you browse this collection, you’ll realize that you don’t have to splurge an entire year’s salary on a gorgeous engagement ring. There are several affordable engagement ring options as well which will be well within your budget. 

Pick a Band That Complements the Stone

Sometimes, you’ll be tempted to compromise on your band to save a few hundred bucks. You might think that you can use the money you save on the band to buy a more expensive gemstone. However, is it really worth compromising the overall look of your engagement ring just to save a bit of money or spend it on a bigger ring? The answer is no.

Always pick a band that complements the gemstone on your engagement ring. The band should complement the stone’s color mostly. For instance, platinum is perfect for a diamond or sapphire ring. For a ruby or red diamond ring, pick rose gold. 

Consider Fitting Multiple Stones on the Same Band

In 2023, since gemstone prices will eventually increase, you can consider using smaller gemstones. However, you should consider fitting multiple stones on the same band in that case. This is only when the price of these stones combined is less than a large stone that you could’ve put on the ring. 

You can also consider fitting multiple types of gemstones on the same band. For instance, you can have a ruby and a pink diamond on a rose gold band or a sapphire and a white diamond on a platinum band. 

Avoid Fitting More Than Two Types of Stones on the Same Band

The problem with fitting more than two types of gemstones on the same band is that it makes the engagement ring look a bit overwhelming. It’s like a lot is happening on that ring, but you can’t really tell if it’s working out. 

Too many cooks spoil the broth; in this case, too many gemstone variations can spoil your ring. Thus, stick with only two types of gemstones if you’re opting for the multiple-stones look. There is no need to overdo things when it comes to your engagement ring. 

That’s all for this post. Once you’ve taken all these things into consideration, you’re ready to go ahead and buy that engagement ring.

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