The bling factor: How much do celebrities spend on engagement rings?

When celebrities pop the all-important question, they do it in style and with a ring that dazzles and most often breaks the bank.

Take for instance, American pop princess Taylor Swift and fiancé Travis Kelce. On August 26, the couple announced their engagement, writing on Instagram, “Your English teacher and your gym teacher are getting married.” Kelce popped the question with a ring that has caught everyone’s attention: an elongated, old mine cushion cut diamond set on a yellow gold band, designed by Kindred Lubeck of Artifex Fine Jewelry in New York.

The news of their engagement got social media abuzz with Swifties, as Taylor’s ardent fans are called, gushing over the ring and the proposal. As one Swiftie wrote, “This is the most Taylor Swift-coded engagement ring I have ever seen, it’s literally perfect for her.”

Earlier, even footballer Cristiano Ronaldo proposed to his long-time girlfriend, Georgina Rodríguez, with a ring that razzled and dazzled everyone. This has got many asking: how much are celebrities willing to pay for engagement rings.

Taylor Swift’s ‘vintage’ engagement ring

American football player
Travis Kelce and Taylor Swift decided to take their love story, which began two years ago, to the next level with a glamorous engagement. For the big deed, Kelce chose a vintage diamond set in yellow gold.

While many details haven’t emerged yet on the ring itself, it is believed that the diamond is between eight to 10 carats. The Clear Cut, a New York City-based jeweller specialising in engagement rings, stated in a TikTok that the diamond appears to be a “spready stone,” allowing “windowing” in its facets, which makes the exact size difficult to determine. But if they had to guess, they said the ring looks like it’s between four and seven carats.

And experts note that for a rock of this size, the ring may have cost anywhere between $250,000 to $550,000. While Benjamin Khordipour at Estate Diamond Jewellery estimated the price to be $550,000 (Rs 4.82 crore), Nilesh Rakholia, the founder of Abelini Jewellery, a modern British brand, estimated that the ring weighs seven to 10 carats, costing between $1 million and $1.3 million.

Stephanie Gottlieb, founder and creative director at Stephanie Gottlieb Fine Jewellery, also noted that based on the size of the diamond in Taylor’s ring, it could have ranged anywhere from $400,000 to $800,000.

Ronaldo’s sparkler for Georgina

But it’s not just Travis Kelce who has paid big bucks for an engagement ring. In mid-August, ace footballer
Cristiano Ronaldo broke the internet after proposing to girlfriend Georgina Rodriguez with a massive diamond sparkler.

A photo posted by Rodriguez showed the centre stone almost reaching her knuckle, prompting questions about its size and its cost. Many jewellers note that the diamond in her ring could be anywhere between 35 and 50 carats. They also said that stunner is flanked by oval sides stones set in platinum.

And what could a ring with such diamonds cost? Anya Walsh, a jewellery specialist at 77 Diamonds, a retailer based in London, told the New York Times that Georgina’s ring could easily be worth $5 million (Rs 37 crore). Meanwhile, Laura Taylor, an engagement ring specialist, was of the opinion that the ring could be anywhere worth $2 million.

George Khalife, a celebrity jeweller known as George the Jeweller, estimated that it was around 20 to 25 carats, and around at least $5 million to $7 million. “Knowing that it’s Cristiano Ronaldo, I’m assuming it’s probably near colourless (F colour), likely a VVS quality,” noting that the diamond appeared to be nearly flawless.

Jeff Bezos’ stunning sparkler for Lauren Sanchez

When Amazon founder Jeff Bezos decided to pop the question to
Lauren Sanchez, he decided that size matters. The billionaire went down on one knee with a cushion-cut diamond set on a platinum band.

And the ring is anything but ordinary. The massive sparkler features a cushion-cut diamond — estimated to be about 30 carats — set on a four-prong platinum mounting. And this diamond is no regular one, it’s actually a more unique pink diamond.

And the cost for this rare stunner? Jeweller and expert Briony Raymond estimates it “to be anywhere from $3 million to upwards of $5 million depending on the exact specifications of the diamond.” Natural Diamond Council expert Grant Mobley, meanwhile, told Harpers Bazaar, “With its rare combination of size, exceptional colour, and remarkable clarity, the ring is estimated to be worth around $4 million, making it one of the most significant celebrity engagement rings in recent memory.”

Other big spenders

But these celebs aren’t the only ones who have broken the bank when it comes to engagement rings. In 2016, pop star Mariah Carey was popped the question by billionaire James Packer. For the deed, he chose an emerald-cut diamond, which was designed by Wilfredo Rosado, for $10 million.

Other celebrities such as Beyonce and Kim Kardashian also were gifted exorbitantly expensive engagement rings. For Beyonce, Jay-Z chose a 24-carat, emerald-cut diamond ring designed by Lorraine Schwartz. The rapper spent $5 million on the colossal gem. Meanwhile, Kim Kardashian’s rock from her former husband, Kanye West, clocked in at around $4 million.

And spending big bucks on engagement rings isn’t just a Western concept. In India, Shilpa Shetty-Kundra is believed to have one of the most expensive engagement rings, priced at Rs 3 crore ($342,000).

And when Ranveer Singh popped the question to Deepika Padukone, he chose a rectangle solitaire set in platinum, costing anywhere between Rs 1.3 and Rs 2.7 crores ($148,000-$307,000).

But no list on expensive engagement rings can be complete without the mention of Hollywood icon Elizabeth Taylor and Hollywood actress Grace Kelly.

While Taylor had several engagements under her belt, it was the bauble from Richard Taylor that got everyone buzzing. He gave her the Krupp diamond, a 33.19-carat stone with an Asscher cut that once belonged to actress Vera Krupp. Following Taylor’s death, the diamond was sold at Christies in 2011 for $8,818,500. Shockingly, owing to its incredible value, Burton was only able to wear the diamond out in public with armed bodyguards present, and for only 30 days per year due to a strict insurance policy.

And in 1956, when Hollywood actress Grace Kelly wed Prince Rainier III of Monaco, her engagement ring was priced at $4.06 million, which was an extravagant purchase at the time. Today, though, the ring is worth about $38.8 million, per Jewellery Box, which earns the top spot for the priciest celebrity engagement ring.

Average spending on engagement rings

But what about the common man, the average Joe? The average spend on an engagement ring has increased in recent year. In the US, according to Faithful Platform, a custom engagement ring company, couples are spending an average of $6,500 on an engagement ring.

It is often believed that when it comes to budgeting for an engagement ring, it is believed that you should spend two months of your salary. However, many are now ditching this notion owing to the high cost of living. Many are also ditching natural diamonds for lab-grown ones, as many are concerned about ethical sourcing.

But most couples and jewellers note that it isn’t the amount you spend on the ring that actually matters. In the end, it’s all about the love and commitment between the couples.

With inputs from agencies