The Knot reports that the average cost for an engagement ring was $6,000 in 2021. This figure may vary from couple to couple based on certain factors of customization such as the size and cut of the stone and the type of metal used for the band.

While an engagement ring is a symbol that represents your love, it doesn't have to break the bank. You can have a beautiful custom engagement ring for a fraction of the price.

Sounds too good to be true? Wondering how this is possible? In this guide, we'll explain how you can design your own custom engagement ring. Keep reading for more information.

Designing a Custom Engagement Ring

The style and the overall cost are contingent on the couple's tastes and budget. Having a more affordable ring also means if the ring is lost or stolen at some point, you won't be stuck trying to replace a pricey rock.

It's also better for everyday wear because you're not as afraid to get your hands dirty as you would with a more expensive ring set.

By using diamond equivalent stones, you can have all of the luxurious looks of a diamond without paying diamond prices. And diamond alternatives are a great way to avoid conflict diamonds that may have been mined unethically.

Many synthetic or lab-grown diamonds, minerals, and other natural gemstones are taking the place of traditional diamonds as a cost-effective and distinct style in custom engagement rings. Here are some examples of diamond alternatives.

Moissanite Diamond

Moissanite is made of silicon carbide. It is a naturally occurring mineral and not lab-created.  

A Moissanite Diamond is unique in that it can pass the Diamond Test with a handheld diamond tester. This means it shows the same, if not better, level of brilliance of a natural diamond. They rate as a D to an F on the diamond color scale with a clarity of VVS1.

Moissanite diamonds possess a 9.25 hardness to a diamond's 10, this makes them harder than rubies, sapphires, and emeralds. Moissanite rings have a 2.65 Refractive Index, which is higher than a standard diamond's rating of 2.42. 

Sona Diamond

A simulated Sona diamond is a lab-created diamond by professionals using special high-temperature and high-pressure equipment. They have the appearance of real diamonds to the naked eye. A Sona Diamond is cut and polished to have the same sparkle and brilliance as a natural diamond. 

Although a Sona Diamond will not pass the Diamond Test, it is an affordable and conflict-free alternative to pricier diamonds with questionable origins.

Premium CVD (Chemical Vapor Deposition) Diamonds 

Premium CVD Diamonds are lab-grown and created to mimic the structure of real diamonds. Made from pure crystalline carbon, they pass the Diamond Test and are available for premium cost stone upgrades.

CVD Diamonds

CVD Diamonds rate at a 9 on the Mohs Scale for hardness. Their Refractive Index is between 2.27–2.31, lower than Moissanite. It is a diamond imitation, not a cubic zircon stone. 

CVD Diamonds will not pass the Diamond Test, but their brilliance more than makes up for it and they are indistinguishable to the untrained eye.

EVN™ Diamonds

EVN™ Diamonds are lab-grown created diamonds. They are identical to real natural diamonds but they are flawless and clearer than other stones. EVN™ Diamonds won't pass the Diamond Test, but they will still make excellent diamond substitutes.

Metal Types

To save money on a custom engagement ring that still has that bling, opting for another type of metal can help to cut costs. 

Platinum is the most expensive metal for ring bands, followed by gold, both white and yellow gold. Rose gold and sterling silver are on the lower end of the price spectrum for metal bands because they are composites of other metals.

While some may believe them to be cheaper quality metals, rose gold is actually more durable than white or yellow gold alone because of its copper content. Rose gold also does not require plating, as white gold does, so its coloring will not fade or wear off. 

While gold is available in different karat levels, it's important to understand that the lower the karats are in a piece of gold jewelry, the less pure gold is contained within it. A custom engagement ring with 14k gold will be 58.5% gold with the other 42.5% containing metal alloys like nickel and copper.

Sterling silver on the other hand is 92.5% pure silver, with only 7.5% containing another metal alloy. Sterling silver offers more pure silver and more bang for your buck. 

Couples Engagement Rings

Couples' engagement rings coordinate the same style, metal, and diamond or stone type to create a unified look for both rings.

The women's ring is usually a more ornate thin band with several diamonds and a center focal point stone. While the men's ring is a thicker band matching the metal type that may or may not have a single decorative stone.

Incorporating 925 sterling silver with Moissanite diamonds in a couples engagement ring design gives it the sleekness of platinum or white gold band and the sparkle of a diamond for considerably less. But by no means are you skimping on quality.

There is also something to be said about the rings and the couples wearing them to be a good representation of the individuality of the couple that sets them apart from the others. Some couples may opt for intentionally different styles of rings as they want to stand out from the crowd. 

Affordable and Beautiful Custom Wedding Rings

Black Diamonds New York specializes in conflict-free diamonds and diamond alternatives. We believe everyone should have the beautiful and affordable engagement ring of their dreams. 

Our rings are meticulously crafted from the highest quality materials to sparkle and shine from every angle. 

Black Diamonds New York stands by the quality of our items. We offer a 100% money-back guarantee and a one-year warranty on all of our EVN™Diamond and Sona Diamond items, as well as select Moissanite Diamond products. 

Contact Us for a VIP Consultation and get started on your custom engagement ring today.