Cover Jane Lunzer is a London-based private jeweller who talks to us about the dos and dont’s of buying engagement rings (Photo: courtesy of Mark Mainz)
Jane Lunzer is a London-based private jeweller who talks to us about the dos and dont’s of buying engagement rings (Photo: courtesy of Mark Mainz)
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Traditional or modern design? Natural or lab-grown diamond? London-based private jeweller Jane Lunzer explains how to invest in engagement rings in the latest article in our jewellery FAQ series, which answers the most commonly asked questions about jewellery
Among the many symbols of affection, the engagement ring stands out as a beacon of enduring love and promise. This cherished piece, often a blend of intricate artistry and personal commitment, holds a special place in the hearts of those about to embark on a lifetime journey together. However, the path to selecting the perfect engagement ring is as intricate as the designs themselves, fraught with considerations of style, substance and symbolism.
As we continue our exploration in the jewellery FAQ series, this chapter delves deep into the sparkling world of engagement rings. To shed light on this emotionally and financially significant investment, we spoke to Jane Lunzer, a private jeweller, who specialises not only in crafting these tokens of affection but also in guiding couples through a maze of choices.
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What are the three basic rules of investing in engagement rings that one should keep in mind?
1. Successful investment in an engagement ring should be gauged purely by the pleasure and emotion it elicits, daily and for many decades, in the wearer and the buyer—rather than an increase in value or resale potential. Jewellery depreciates in financial value—rather like a new car does the moment it is driven off the forecourt of the showroom. As a token of love, it should increase in emotional value with every passing year. It is, however, also worth mentioning that rare gems will always be rare—whether because of their size, origin, or scarcity – and in this case they are also financial ‘investment’ pieces.
2. Choose an engagement ring that is suitable for the lifestyle of the wearer—a fanatical gardener or a committed rock climber needs something significantly more robust than one who attends gallery openings and tea parties. It’s not that the gems and precious metals aren’t hardy, but one needs to consider the challenges, accidental knocks and blows a ring might face, when worn full time, and select a design and structure that protects the gems. It is also important to consider the comfort of the ring, and that it shouldn’t catch on clothing or hair.
3. The choice of an engagement ring should be made based on what suits the wearer—their clothes, shoes and hairstyles. Not simply fashion. Not competitive one-upmanship!
What are the questions one should ask when buying an engagement ring?
If you are buying a ‘ready to wear’ ring, the important questions will be mainly to do with being sure that the piece is what it is claimed to be. Check that there is a hallmark, which will verify the metal content. In the UK there is a legal requirement for this to be shown, but in other parts of the world it may not be. Is there a certificate verifying the dimensions, carat weight and geographical origin of the main stone(s)?
A certificate will also indicate whether the stone is natural or synthetic, and that it has not been heat treated or radiated to enhance either colour or clarity. It should be mentioned that whilst there is nothing wrong with synthetic, treated, or enhanced stones, these factors should be reflected in the price of the piece of jewellery. Does the seller offer a valuation for insurance purposes? There are also practical questions that can be asked, for example, does the seller offer the opportunity to resize the ring if needed and how much would they charge? They should offer a free resizing service—for up to three sizes, up or down; if having to increase the size beyond this they may need to add extra metal and could therefore be justified in asking for payment.
Will the seller offer to check the setting every couple of years? This is advised so that the stones can be checked to see that they are still held firmly by the metal, and that there are no small chips that need to be smoothed in order to avoid further abrasion. Despite the inherent hardness of diamonds, if they happen to be knocked particularly hard at a weak point, they can sustain some slight damage, and checking them is a good idea. I work as a private jeweller, which means that most of my pieces are custom, or bespoke, designs for my clients. The questions I could expect to be asked are the following—and the answer to each of them is ‘yes!’: Can I choose a central stone and propose to my girlfriend with that? Please advise on a range of possibilities within my budget. Can we then decide together on the design? Can my fiancée try on hundreds of different shapes and designs, so that we can see what really suits her hand best? Can we decide which colour metal to use—yellow gold or platinum—later in the process? Will it be possible for us to see the ring as a wax/resin model to check the proportions and all the small details before committing to the final casting?
Should one be thinking about synthetic or lab-grown gems? And if not, why not?
Synthetic or lab grown gems are identical minerals to those mined from the centre of the earth, created in a laboratory using phenomenal quantities of heat and pressure; energy created and expended purely for their growth, so it is incorrect to describe these synthetic gems as being more sustainably sourced than natural stones. There is nothing intrinsically wrong with these gems, but they are not natural, they have no provenance, and they will have no resale value. Perhaps most relevant, is that as long as their unnatural source is revealed/divulged and the pricing reflects this, they are a valid category of decorative gem—but with little romance to compare with that of having a piece of precious mineral that developed in the centre of the earth millions of years ago, made the journey to the surface, and are miracles of nature.
How can one surprise their partner and still manage to gift them a ring of their dreams?
By doing a lot of undercover research. Listening out for hints and clues, looking closely at their other jewellery choices, watching their reaction to friends’ engagement rings. Or by enlisting the help of a close friend, who will diplomatically and surreptitiously sound them out, without giving the game away. Another suggestion is that you propose with a beautiful stone and then design a ring together, with the help of a designer or jeweller.
How much should an engagement ring cost?
The price of an engagement ring is going to be dictated by the value of the centre stone and the quantity of metal used in the setting—design and making costs are obviously involved too, but they will be a constant, regardless of which stones are chosen. Diamonds are often considered to be the only suitable gem for an engagement ring, but this is absolutely not the case … and these days coloured gems are often chosen. The problem with diamonds is that they increase in price exponentially, the figures leap, dramatically, with each small increment of size/carat weight. If one is looking for a ring of significant size, on a limited budget, there are many suitable, as well as absolutely beautiful, coloured gems of greater proportions. Diamonds can be added as side stones, or accents, far more reasonably.
Giving figures for what a ring should cost is not entirely fair; a bride-to-be will be—or should be—happy with whatever is chosen. It used to be said that one should expect to buy a ring that cost the equivalent of two to three months’ salary, but I am not sure that is still the yardstick by which young people now make their purchase. The average cost in the UK last year was between £5,000 and £10,000; there will be those for whom that is unachievable, whilst others will be able to extend significantly beyond.
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What is the best engagement ring you recommend that never goes out of style?
Traditionally, a single solitaire diamond on a slim band has had long lasting popularity, with the size of the stone being dictated by available funds, rather than because it looks right. Rings chosen by film stars, celebrities and royalty have a huge influence on what becomes popular, and these models become the go-to design for many years after—copied in style even if the stones are not as large, nor the quality as high. There is also the trend of having a centre stone surrounded by a ‘halo’ of smaller stones to give the impression of a more significant piece – the actual size of the centre is cunningly blurred by the satellite stones. But the best ring to choose is the one that suits the wearer—the length of their fingers, the width of their hand and the tone of their skin. Each person is an individual and having the courage to express that individuality, rather than conform to a trend, is to be applauded. This is a piece of jewellery that will be worn every day for many, many years and should cause a flutter of excitement each time it is looked at.
If I cannot afford a natural diamond, what is the substitute according to you?
The obvious suggestion might be a lab grown diamond—identical in chemical structure and material to a natural diamond—but I would prefer to encourage the pursuit of a natural, coloured gem stone, or even a white sapphire if a colourless stone is preferred. Aquamarines have often been chosen as the centre stone in ‘dress rings’, but they are less ideal for an engagement ring, worn every day, because they are not as hard a stone and can chip more easily. Sapphires are far more suitable and are found in all colours.
How do I tell the difference between a lab-grown diamond and a natural diamond?
You can’t. It isn’t possible to tell them apart, which is why the topic is discussed at great length and the divide between the two categories the subject of much debate. There are a number of pieces of equipment that can be used to test for Lab-grown diamonds, but only a laboratory can definitively identify natural stones and issue certificates of validation. Buying Lab-grown diamonds is fine, as long as one knows that is what one is buying, and the price is appropriate.
Are there any new trends in engagement rings that one should know about?
More people are beginning to move away from the more traditional engagement rings nowadays. They are choosing coloured gemstones instead of only diamonds and are becoming more adventurous with styles too. Whereas round brilliant diamonds have held centre stage for decades, fancy cuts (ovals, pear-shaped and marquise) are now popular, and emerald-cuts too, are being seen more too. I find this an exciting development because I love the icy cool quality of these straight-sided stones. The clarity and colour do have to be higher than when choosing a stone with many more facets, and the overall impression will be less sparkly, but they are noticeable for their unassuming elegance. With the extremely high price of precious metals, currently increasing at an alarming rate, it is good to look at alternatives. One of these is titanium. I have yet to explore this but can see that it will encourage enjoyable experimentation and a whole new range of designs.
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As the Regional Editor for Watches and Jewellery and Editorial Content Lead for Tatler GMT, Amrita Katara specialises in luxury watch and jewellery coverage across Asia, with expertise in editorial strategy, feature writing and interviews with industry leaders. Her past roles span luxury lifestyle media and client partnerships. Based in Mumbai, Amrita’s work bridges global trends and Asian market insights.
