A Guide to $20,000 Diamond Engagement Rings (2024)

$20000 Engagement Rings

Make no mistake, it’s possible to find a beautiful engagement ring at just about any budget. And the more you have to spend, the more flexibility you have to pick out a perfect, one-of-a-kind diamond ring for your future bride.

If a $20,000 engagement ring fits within your budget, you’ll be able to afford a diamond significantly above average in carat weight, with no compromise in cut, color or clarity grades. You’ll also have the freedom to choose from any style of setting you want, from a simple solitaire setting to a vintage or designer ring.

However, while this budget gives you a lot of flexibility, it’s worth knowing how to make the most of it. It’s possible to overspend in certain areas, and end up with a ring that doesn’t quite live up to its price tag. Have a look at our diamond price calculator to explore the price differences.

In this article, we’ll offer up some recommendations to help you maximize the value you get for your $20,000 engagement ring, and we’ll show you a few examples of what you can buy at this price range.

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Here’s what we’ll cover in this article:

What engagement ring can you buy for $20,000?
What does a $20,000 engagement ring look like?
What size diamond ring can you get for $20,000?
How does a $15,000 ring differ from a $20,000 diamond engagement ring?
Important characteristics of a $20,000 diamond ring
Where is the best place to buy a diamond ring for $20,000?
$20k diamond ring inspiration

To help you with the diamond buying process we lean on our expertise and experience. The author of this article, our CEO, Mike Fried has over 20 years of experience in the diamond industry. Mike started from the bottom, sorting and evaluating hundreds of thousands of diamonds to learn every facet (pun intended) of diamond quality and value. Mike followed that up by spending years buying and selling diamonds on the wholesale market as well as selling tens of millions of dollars worth of diamonds to diamond retailers.

A $20k diamond ring budget will allow you to look at diamonds 2 carats and above, which are guaranteed to steal the show in just about any room they’re in. For example, this stunning 2.13 carat asscher cut diamond. Alternatively, you can dip a little below 2 carats for a super ideal cut diamond, like this 1.828 carat round diamond from the Brian Gavin Signature range.

According to information published in jewelry magazine JCK, the average couple spends around $6,000 on an engagement ring. As such, a budget of $20,000 gives you a considerable amount to choose a ring that’s truly stunning, whether this means a larger diamond, a more ornate setting, or a mix of both. JCK Online

What Kind of Engagement Ring Can $20,000 Buy?

There’s quite a variety with what you can get with a budget of this size. A $20,000 engagement ring budget is far above the median amount spent on a diamond ring, which is around $3,000 – $5,000. When we discuss the average engagement ring cost, we note that people spending 20k are significantly above the mean.

Deal Alert: Get 30% off lab-grown diamonds during a limited time sale at James Allen.

You’ll have nothing off-limits in terms of setting style, metal, and cut, color and clarity of the diamond in your ring. It’s up to you where you want to put the money towards, and what style of ring suits your partner’s tastes best.

$20,000 can get you a diamond that’s over 2 carats in a beautiful setting, such as this 2.22 carat round brilliant diamond from James Allen paired with an 18K white gold pavé cathedral setting.

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You can also go big, in terms of the diamond or the setting. Take this huge, and beautiful, 2.50 carat emerald diamond from Blue Nile in a 14K yellow gold setting as an example.

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You’ve got the choice of what style you want to go with, which diamond shape, and how grand the setting will be.

What Does a $20000 Engagement Ring Look Like?

A $20k engagement ring should, if you get proper value for money, look bigger and more beautiful than any ring most people have ever seen in person.

1. A $20,000 engagement ring may feature a large, high-quality center stone with a setting designed to elevate and display this diamond in full glory. Take these rings for example:

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2. Other $20000 rings may go heavier on the setting, to come up with a diamond ring with more all-round brilliance. Here are some examples:

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3. There is also the choice of designer settings, which at a lower budget may mean you’re under-investing in the center diamond. But for a $20,000 engagement ring, you can afford to splash out on the setting and still have money left over for a beautiful diamond.

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How Many Carats are in a $20k Diamond?

“All else being equal, diamond price increases with diamond carat weight because larger diamonds are rarer and more desirable. However, two diamonds of equal carat weight can have very different values (and prices) depending on three other factors of the diamond 4Cs: color, clarity and cut.” Gemological Institute of America (GIA)

A $20k diamond can be from 2 to 2.50 carats, or even higher, depending on the shape, and how it’s graded in other areas.

$20,000 may even be able to get you a diamond as large as 3 carats, however, going as big as this, while staying within a $20,000 budget, means sacrificing significantly on other qualities like cut, color and clarity that can often lead to a dull, lifeless diamond.

That’s why between 2 and 2.50 carats is the sweet spot, where you can not only buy a diamond that’s significantly above average in weight and size, but one that appears completely colorless and without imperfections.

If you want to get as big a diamond as possible without sacrificing too much in color or clarity, try a fancy shaped diamond, as these traditionally cost less per carat than the more common round brilliant cut.

Differences Between a $20000 and $15000 Engagement Ring

If your budget for an engagement ring is $20,000 or $15,000, you’re going to have a lot of freedom either way.

The biggest difference between a $20k engagement ring and one for $15k and under is in carat weight. For $20,000, you’ll be able to afford a diamond between 2-2.50 carats, without sacrificing much in any other areas.

For a $15,000 engagement ring, however, you’re looking at 1.50-1.80 carats as the sweet spot for all-round beauty and value, and to be able to pair with a gorgeous setting.

For example, here are two identical engagement rings at each price point:

  • 1.77 carat round diamond with a 14K yellow gold pavé adorned cathedral setting – $15,150
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  • 2.00 carat round diamond with a 14K yellow gold pavé adorned cathedral setting – $19,900
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A $20,000 engagement ring budget may also give you the flexibility to pick out a more beautiful diamond at the same carat weight, by putting more of your budget towards color and clarity.

$20000 Diamond Ring: Cut, Color, Clarity and Shapes

To get the most value out of your $20,000 engagement ring, you’ll want to understand what to look for in the various categories in which diamonds are graded.

If you pick out a diamond that grades too low in cut, color and clarity, while you’ll be able to afford a larger diamond, it will end up being quite mediocre in terms of fire, brilliance and overall beauty – despite its size.

On the other hand, going too high in certain areas can leave you paying a premium for no visible difference to the naked eye.

Here’s a summary of what you should look for in order to maximize the value you get for your budget.

Cut

Diamond’s cut is the one grade that should not be compromised on. A poorly cut diamond won’t have the fire and brilliance diamonds are renowned for, and you’ll be left with a dull or poorly proportioned stone.

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Look for Ideal or Excellent grades in cut as a starting point. At this budget, you may also wish to splash out on a super ideal cut from the Brian Gavin Hearts & Arrows collection, like this 1.827 carat round diamond.

Color

With diamond color, your aim should be to pick out a diamond that appears colorless. This doesn’t mean you need to go with a grade near the top of the scale, such as a D or F color diamond. Generally, you should be able to find a diamond that looks colorless to the naked eye in the G to K color range of the scale.

The difference from one color grade to another is often hard to spot, despite coming with a fairly significant diamond price difference. Dropping a few grades lower may be a great way to save money on your ring, which can be put instead towards a higher carat weight or a more stunning setting.

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Clarity

Like color, there is a point at which any difference in diamond clarity is not noticeable to the naked eye. While it’s nice to be able to say you bought a “flawless” diamond, the truth is it will look no different under normal viewing conditions to a diamond 4-5 grades lower.

You want to look for a diamond that appears “eye-clean”. Meaning the diamond has no noticeable inclusions or blemishes. Generally, VS1-VS2 is the sweet spot for this. However, it’s important to examine each diamond individually to be sure. Also, take into account that inclusions will be more noticeable in larger diamonds, as well as certain shapes, such as emerald diamonds.

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Shape

Diamond shape is not a grade as such, but it still has an effect on the price you’re going to pay.

Round brilliant diamonds are the most common shape, and also in most cases the most expensive per carat. So if you’re looking to afford a higher-carat diamond or a more extravagant setting, you may wish to go for a fancy shape.

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Ultimately, the decision of which shape to go with is one of personal preference. There is no “best” or “worst” diamond shape, so go with one that fits your partner’s style and taste.

Where to Buy a $20k Engagement Ring

You’re likely to get the best value by shopping at an online jewelry store. Online vendors are able to offer the best value and widest range, and generally also provide the best customer experience.

Here are some trusted online vendors we recommend:

James Allen

The customer experience at James Allen is difficult to beat. They offer great customer service and high-quality diamond inspection tools, to go along with a huge range of diamonds and settings, at great prices. All the diamonds sold by James Allen are graded by the GIA or AGS, and they offer peace of mind with a 30-day return policy and lifetime warranty.

Blue Nile

Blue Nile is also known for providing a superb customer experience, but even more so, they are renowned for having the largest inventory of loose diamonds. Their range of settings is equally diverse, and they too offer free returns and a lifetime warranty. They are another fantastic company to consider.

Brian Gavin Diamonds

Brian Gavin Diamonds’ specialty is super-ideal diamond cuts. If you want a diamond that stands out and displays a higher level of brilliance and fire than your average stone, a diamond from the Brian Gavin Signature Hearts & Arrows range can be an excellent choice.

$20k Diamond Ring Inspiration

With all the options you have for a $20,000 diamond engagement ring, it’s difficult to know where to start.

Here are some ideas for inspiration on some different choices open to you for a $20,000 engagement ring budget:

2.10 carat, J/VS1 round diamond with a white gold knife edge solitaire setting ($19,710)

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This ring is simple and classic, relying on nothing but a single beautiful diamond. An eye-clean 2 carat diamond with a high-quality white gold solitaire setting gives you a ring that will never go out of style.

2.30 ct, I/VVS2 emerald cut with a 1/4ct french pavé setting in 14K WG ($20,290)

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A huge 2.30 carat emerald diamond makes this ring really stand out, and is complemented beautifully by the tiny round accent diamonds set along the band.

1.85 carat, I/VVS1 round diamond with a spiral tension setting in 14K rose gold ($19,910)

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This tension setting is bold and unique, combined with a beautiful 1.85 carat diamond that is sure to stand out in any room.

1.90 carat, H/VVS2 asscher cut diamond with a 1 cttw cushion cut ring in platinum ($20,617)

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This setting displays incredible all-round fire. 6 cushion cut accent diamonds, adding up to 1 carat in total, support the stunning contrast of a 1.90 carat asscher cut diamond in the center.

1.50 carat, F/VVS2 oval cut diamond with a 14K yellow gold classic engagement ring by Verragio ($19,710)

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Here we have a truly spectacular designer setting from Verragio. Paired with a stunning oval shaped diamond, the result is an extravagant engagement ring you’re not going to see anywhere else.

Email Our Experts For Assistance With Engagement Rings

When you have the budget for a $20,000 diamond ring, you’re going to be able to afford a more beautiful engagement ring that 99% of those you’ll see in your day-to-day life. This budget is more than enough to splash on a flashy setting, a one of a kind super ideal cut diamond, or a huge diamond 2ct or higher.

The recommendations laid out in this post should give you the knowledge you need to understand what $20,000 can get you, and where your money could be best spent.

And if you’re willing to spend a little more, check out our $25000 engagement ring guide for inspiration.

For help starting your search, feel free to contact our experts. We’ll help guide you through the options, and help you pick out the perfect ring, whether you’re thinking about a large diamond in a simple solitaire setting, or something more extravagant.

Here are more specific budget topics to browse:

  • What are the most affordable engagement rings?
  • How much should you spend on an engagement ring?
  • What are diamonds worth?
  • The best engagement rings for $1,000
  • The best engagement rings for under $2,500
  • The best engagement rings for $3,000
  • The best engagement rings for $5,000
  • The best engagement rings for $10,000
  • The best engagement rings for $15,000
  • The best engagement rings for $25,000

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James Allen James Allen is the leader in online diamond sales. Their imaging technology is the same as inspecting a diamond with a jeweler's loupe. They have the largest exclusive loose diamond inventory online and fantastic prices. They also have the nicest collection of lab-created diamonds online.

What we love about them:

  • No questions asked returns within 30 days of shipment. James Allen will send you a paid shipping label to return the ring.
  • Lifetime Warranty
  • Free International Shipping
  • Free prong tightening, repolishing, rhodium plating and cleaning every 6 months
  • Provide insurance appraisals
  • One free resizing within 60 days of purchase
  • Free ring inscriptions
  • Best-in-class high quality imagery of all diamonds in stock
  • 24/7 Customer Service
  • Best-in-class packaging

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Blue Nile Blue Nile is the largest and most well-known internet jewelry seller. They have a very large exclusive online inventory. Their high-quality images are catching up to James Allens' and their prices are amazing.

What we love about them:

  • No questions asked returns within 30 days of shipment. Blue Nile will send you a paid shipping label to return the ring.
  • Lifetime Warranty
  • Free Shipping
  • Free prong tightening, repolishing, rhodium plating and cleaning every 6 months
  • Provide insurance appraisal
  • One free resizing within the first year of purchase
  • High quality images of about half of their diamonds
  • 24/7 Customer Service
  • 100% credit towards future upgrades (must be at least double in value)
  • Best in class fulfillment

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About the author

Mike Fried Mike Fried has over 25 years experience in the diamond industry working with Leo Schachter Diamonds, Moshe Namdar Diamonds, and joining The Diamond Pro in 2007. He is recognized as an industry expert and has been quoted in publications such as Us, People, Page Six, The Next Web and more.

A Guide to $20,000 Diamond Engagement Rings (2024)

FAQs

Is $20 000 too much for an engagement ring? ›

$20,000 is a substantial budget and falls within the mid to high range for engagement rings. It's a popular budget for individuals seeking a balance between quality and cost.

How many carats can you get for $20,000? ›

The actual dimensions of a diamond and its apparent size can vary significantly depending on its shape and cut quality. A diamond appropriate for 75% of a $20k engagement budget could range from 1 to 2.50 carats, or even higher, depending on the shape, and how it's graded in other areas.

Is $25,000 a lot for an engagement ring? ›

Budget: Engagement Rings for $25000

Furthermore, $25,000 is enough to purchase a large diamond without compromising its quality.

What is the golden rule for engagement ring prices? ›

To calculate the 3-month rule, one would simply take their gross monthly salary and multiply it by three. This amount would then be used as a guideline for the engagement ring budget.

What is a realistic amount to spend on an engagement ring? ›

While engagement rings are a pricy investment, the usual cost tends to be below $10,000, with a national average of $6,000, according to The Knot's 2022 Jewelry and Engagement Study.

How much should an engagement ring cost if you make 100k? ›

The Correct Answer to How Much to Spend
Salary (US Dollars)Minimum To Spend (US Dollars)Maximum You Should Spend (US Dollars)
$100,000$550$12,500
$125,000$550$14,400
$150,000$550$20,500
$200,000$550$25,500
7 more rows

How many carats is impressive? ›

However, for those who are looking for size and sparkle, a two-carat diamond may be the ideal size. This carat weight is significantly larger than a one carat diamond, and it can provide a more impressive and luxurious appearance.

What is an impressive carat size? ›

If you're looking for something big and noticeable, 2.00 cts will certainly make a statement. At this weight, a round diamond is a little over 8 mm in diameter (10 mm = 1 cm). However, finding a well-cut diamond of this size becomes difficult. Make sure you know what you're looking for.

Is a 2 carat diamond considered to be big? ›

A 2-carat diamond is considered large compared to the average size of diamonds used for engagement rings. The average diamond size for engagement rings is around 1.0 to 1.5 carats. Therefore, a 2-carat diamond stands out significantly and offers a more pronounced appearance on the finger.

What is the three salary rule for engagement rings? ›

One of the most infamous wedding etiquette rules revolves around how many months' salary one should spend on the engagement ring. It's known as the "three months' salary" rule, and it implies that a buyer should put three months of their salary toward a sparkler for their future spouse.

What is an acceptable amount to pay for an engagement ring? ›

According to the classic engagement ring cost rule, you should spend three months' salary on an engagement ring for your loved one – after all, they'll be wearing that ring for the rest of their life.

Is 2k too cheap for an engagement ring? ›

No, a $2,000 engagement ring is not cheap, and can be quite stunning. The quality of your ring depends on the diamond's cut and your setting, along with which vendor you choose. You can find high-quality budget diamond engagement ring through online vendors like Blue Nile and James Allen.

Is $20,000 too much for engagement ring? ›

According to tradition, the amount you choose to spend on an engagement ring should approximate the amount of your monthly salary times two. By this measure, anyone who earns $2,000 a month should be looking at models in the $4,000 range. For someone earning $10,000 a month, a $20,000 ring would be about right.

Are lab grown diamonds real? ›

Yes, lab grown diamonds are 100% real diamonds, with the same properties that natural diamonds have. Lab diamonds have no physical differences from natural diamonds, and it is impossible to tell them apart without specialist laboratory equipment.

Do couples buy engagement rings together? ›

While some people would prefer their engagement to be a complete surprise, going engagement ring shopping together is a good way to ensure you and your partner are on the same page about your goals and expectations.

How much salary are you supposed to spend on an engagement ring? ›

One of the most infamous wedding etiquette rules revolves around how many months' salary one should spend on the engagement ring. It's known as the "three months' salary" rule, and it implies that a buyer should put three months of their salary toward a sparkler for their future spouse.

Is $10 000 enough for an engagement ring? ›

A $10,000 engagement ring typically signals a premium tier in jewelry selection. In the market, this amount can afford you high-quality diamonds, often around the 1-carat mark, set in platinum or gold bands with intricate designs.

Is $15000 too much for an engagement ring? ›

There is an old rule that is known as a guide for purchasing an engagement ring. This rule is that you plan on spending three months net salary on an engagement ring. That means that if you were employed making $60,000 per year, you would be expected to pay $15,000 for an engagement ring.

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