Travis Kelce might be able to afford a half-million-dollar engagement ring for Taylor Swift, but for most people, popping the question comes with a much stricter budget.
If you're planning to get on one knee, you may find that the perfect ring is getting more expensive.
For Haley Hayes, who recently got engaged, the solution was to think outside the traditional diamond box. She chose a special sapphire ring flanked by tiny diamonds; a choice she says was more budget-friendly.
"I wanted something a little more cost-efficient but still had that showy effect," Hayes said.
Her ring reflects one of the hottest trends in jewelry right now: flatter, elongated stones like emerald cuts.
These styles, also sported by celebrities like Swift, create an illusion of size.
"That's a look a lot of women want," said BJ Foreman, president of Boris Litwin Jewelers in Cincinnati.
Watch as a bride and jewelry store owner show how to save with longer, wider diamonds:
Pressure on the jewelry market
Foreman said a great thing about longer diamonds is that a 1-carat stone can look like a 2-carat stone because of its shape.
"If you look at the side of her ring, it's shallow," Foreman added.
But these trendy rings aren't immune to rising costs. Foreman notes that the price of gold, a staple for ring bands, has skyrocketed.
"When I took this business over in 1997, gold was $425," she said. Today, spot gold is hovering near $3,700 per ounce.
Another factor is the 50% tariff on imports from India, one of the largest suppliers of diamonds to the U.S.
While natural diamond prices have been at a multi-year low, jewelry expert Lance Shapiro believes that won't last.
"There's only one way to go and that's back up," Shapiro said.
When asked about timing, Shapiro said "I don't know if it's going to be tomorrow, but definitely in the years to come, diamonds are definitely going up."
Get the most bling for your buck
For those looking to stick to a budget, Shapiro says lab-grown diamonds are a good option.
Lab-grown diamonds are real diamonds produced in a lab setting. With the naked eye, you generally cannot tell the difference.
According to diamond dealer Carat Trade, Inc., buyers can also save money by shopping in neighboring towns or states with lower prices.
It's also important to factor in the long-term costs of ownership, such as insurance and maintenance for fine jewelry.
By making informed choices, you can still find a showstopper. For Hayes, her unique ring has been a huge hit.
"All my friends and family have been enamored with it," she said.
Ultimately, a little research can ensure you get the perfect ring without overspending, so you don’t waste your money.
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This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
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