BriteCo Reveals Average Engagement Ring Cost in 2025: $6,504, With Lab-Grown Diamonds Driving Big Savings for Couples

Data reflect a downward trend in spending on engagement rings, as the 2025 average was $6,504, down from a five-year high of $9,025 in 2022

EVANSTON, IL, UNITED STATES, October 7, 2025 /EINPresswire.com/ -- BriteCo™, a leading provider of jewelry and watch insurance, today released its annual Engagement Ring Cost Report, revealing the latest insights into what couples are really spending on engagement rings in 2025. Drawing on anonymous appraisal data from insured rings across the US, the report highlights shifting preferences, cost-saving strategies, and the growing popularity of lab-grown diamonds among today’s buyers.

The headline number: the average cost of an engagement ring in 2025 is $6,504, slightly down from $6,775 in 2024 and significantly below the five-year high of $9,025 in 2022.

“Couples are still investing in beautiful rings to mark life’s most important milestone,” said Dustin Lemick, founder and CEO of BriteCo. “But they’re doing it with a sharper eye on value. Inflation, changing consumer priorities, and the rise of lab-grown diamonds are reshaping the engagement ring landscape.”

Key Findings from the 2025 Report

• $6,504 — the average engagement ring cost in 2025, down 4% year-over-year.
• Fancy colored diamond rings average $23,525, the most expensive category.
• Lab-grown diamonds cost 50% less (or more) than natural diamonds, averaging $5,188 compared to $10,760 for natural stones.
• Gemstone rings average $9,384, with most buyers choosing AAA-grade rubies and sapphires.

Consumer Spending Trends

The decline in average engagement ring spending mirrors broader consumer sentiment. According to McKinsey data, more than 60% of U.S. consumers in 2025 have changed their spending habits, with many cutting back on “nonessentials.” While an engagement ring remains a deeply symbolic purchase, couples are more cautious about budgets, prioritizing meaningful choices over marketing-driven “rules.”

“Buyers are smarter and more informed than ever,” added Lemick. “They know they don’t need to spend three months’ salary to find a stunning ring. Our data shows lab-grown diamonds, alternative gemstones, and savvy shopping strategies are helping couples get more for their money.”

Diamonds by the Numbers

BriteCo’s analysis underscores dramatic shifts in diamond buying:

• Lab-grown diamonds dominate colorless categories (D-F grades): 76% of purchases in 2025 versus just 29% in 2020.
• Natural diamonds remain prestigious but pricey: Natural diamonds across most clarity grades increased in cost, averaging $10,000–$18,000.
• Near-colorless (G-H) diamonds remain the second-most popular choice, making up 30% of sales in 2025.

The cost gap is striking. For example, a flawless natural diamond averages $17,552, while a comparable lab-grown diamond averages just $5,670 — a savings of nearly $12,000.

Gemstones on the Rise

Another standout trend is the growing appeal of gemstone engagement rings. At $9,384 on average, these rings now outpace diamonds in cost in many cases, particularly because buyers are opting for the highest-quality AAA-grade stones. This suggests couples are willing to pay a premium for unique, colorful, and highly individualized ring designs.

Engagement Ring Budgeting Tips

BriteCo’s report also includes practical guidance for couples planning their purchase:

• Shop during holiday sales for better prices.
• Consider vintage or heirloom rings.
• Prioritize cut over color or clarity for maximum sparkle.
• Don’t be afraid to negotiate with jewelers.

Protecting Your Investment

No matter the price point, BriteCo recommends that couples protect their rings with dedicated jewelry insurance. Unlike homeowners or renters insurance, BriteCo’s policies are designed specifically for jewelry, covering loss, theft, damage, and mysterious disappearance.
“The emotional value of an engagement ring can’t be measured in dollars,” Lemick said. “Our mission is to give couples peace of mind so they can focus on what matters most — celebrating their love story.”

About BriteCo

BriteCo is a leading tech-driven provider of jewelry and event insurance. Created by a third-generation retail jeweler, BriteCo offers best-in-class jewelry and watch insurance, available in all 50 states. Its top-rated insurance is accessible to customers wherever they prefer, directly online, through an independent insurance agent or broker, or at luxury jewelry retail partners around the country. BriteCo policies have zero deductibles, are backed by an AM Best A+ rated insurer, and provide worldwide coverage. For more information, visit brite.co

Dustin Lemick
BriteCo
marketing@brite.co
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Guide to Buying an Engagement Ring

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