Buying an engagement ring is one of the most meaningful purchases you’ll ever make. Between budgets, styles, carats and metals, the choices can feel endless, but they don’t have to be overwhelming. At Faire & Fine, an independent jeweller and third generation family business based in Hatton Garden, London, we specialise in crafting lab grown diamond engagement rings that are ethical, sustainable and beautifully made to order. In this updated guide, we’ll answer the UK’s most common engagement ring questions, from how much a 1-carat diamond ring costs to whether the “three-month rule” still matters. We’ll also touch on why Hatton Garden offers such great value, what to expect when commissioning a ring, and how to prepare for the Christmas proposal season.
Thinking of a Christmas Proposal?
The holidays are the most popular time of year to propose, research shows that around one in four engagements happen between Christmas and New Year. The sparkle of a winter engagement ring beneath the tree or at a candlelit dinner is hard to beat. Since all Faire & Fine pieces are made to order (usually taking around four weeks), we recommend booking an appointment early if you’re planning a festive proposal. Our workshop gets busier at Christmas, but we can sometimes fast-track designs depending on complexity and capacity. Book an appointment to secure your timeline and start designing your ring.
How Much Does a 1-Carat Diamond Ring Cost in the UK?
In 2025, a 1-carat lab grown diamond engagement ring in the UK typically costs between £1,500+, depending on the diamond’s cut, colour, clarity and setting. The same ring with a mined diamond often costs £5,000–£10,000+. Because lab grown diamonds are physically and chemically identical to mined stones, you get the same sparkle and durability, but at a lower price and with a far smaller environmental footprint. If you’d like to see how different shapes and settings affect price and look, explore a few of our most-loved designs:
- Lab-Grown Oval Solitaire Engagement Ring, timeless and elegant, perfect for those who want understated brilliance.
- Marquise Diamond Solitaire Engagement Ring (Lab-Grown), a distinctive shape that elongates the finger and stands out from the crowd.
- Lab-Grown Elongated Cushion-Cut Bezel-Set Engagement Ring, modern yet protective; a bezel adds security for everyday wear.
- Oval Trilogy Engagement Ring – Lab-Grown Diamond, three stones symbolising your past, present and future together.
- Art Deco Emerald-Cut Five-Stone Engagement Ring, a statement ring for lovers of geometry and vintage style. All are handcrafted in London using ethical and sustainable materials, reflecting our third generation family heritage of craftsmanship.
How Much Should an Engagement Ring Cost in the UK?
According to UK Jewellery Association data and leading bridal studies, the average engagement ring spend in 2025 ranges from £3,000 to £6,000. The old “three-month rule”, suggesting you should spend three months’ salary, is outdated. Today’s couples prioritise value, ethics and individuality over arbitrary formulas.
At Faire & Fine, we’re transparent about how design, metal and diamond quality affect price. We can also create rings more affordably than those listed online by using 9ct or 14ct gold instead of 18ct or platinum, ideal if you’re balancing a wedding or home budget. Book an appointment to explore tailored options for your budget.
Why Is Hatton Garden Cheaper?
Hatton Garden is London’s historic jewellery quarter, home to hundreds of master jewellers, setters and diamond dealers. Because many of us are independent, we work directly with our suppliers and workshops. That means fewer middlemen, fairer prices, and personal service. Buying from an independent Hatton Garden jeweller like Faire & Fine gives you exceptional quality and value, with every ring made by hand here in the UK.
Is £5,000 Too Cheap for an Engagement Ring?
Not at all. £5,000 can buy a stunning lab grown diamond engagement ring in gold or platinum, depending on cut and setting. Lab grown stones stretch your budget further — letting you choose larger carats, intricate settings, or even a bespoke design. For design-led clients or those seeking something truly one-of-a-kind, explore our Bespoke Lab-Grown Diamond Engagement Ring Service.
The “Three-Month Rule”: Should You Follow It?
The “three-month salary” rule was a 20th-century marketing idea, not financial wisdom. Today, most couples focus on what feels right for them. We recommend balancing financial comfort, lifestyle durability (e.g. bezel vs prong setting), preferred metals (gold, platinum), and design features or sentimental elements. The most important thing? Choose a ring that feels meaningful and beautifully made.
9ct vs 18ct Gold — Which Is Better?
9ct gold is 37.5% pure, strong, and affordable with a paler tone. 14ct offers a balance between colour and durability. 18ct gold is 75% pure with a rich hue ideal for luxury jewellery. Platinum, at 95% purity, is extremely durable and bright white, perfect for heirloom pieces. We craft most designs in 18ct gold or platinum but can make them in 9k or 14k to adjust pricing. Book an appointment to tailor materials to your vision and budget.
Why Choose Lab-Grown Diamonds?
Lab grown diamonds are identical to mined diamonds in every measurable way, same brilliance, hardness and fire, but created using renewable energy and advanced technology without mining’s environmental cost. Choosing lab grown means your ring is ethical, sustainable and traceable from start to finish, aligning perfectly with the values of modern couples across the UK.
Frequently Asked Questions About Engagement Rings in the UK
Are lab grown diamonds real diamonds? Yes. They’re real diamonds. pure carbon, just like mined ones, only created above ground with less impact.
How long does it take to make a ring? All our rings are made to order in London, typically taking around four weeks. We can sometimes complete them faster depending on complexity and schedule, especially if you’re planning a Christmas or New Year proposal.
Can you resize a lab grown diamond ring? Absolutely. Resizing affects the band, not the diamond. Most solitaire and trilogy rings can be resized; full-eternity bands may require re-manufacture.
Do lab grown diamonds hold value? Like all fine jewellery, they hold sentimental and design value. Prices fluctuate, but they offer unmatched beauty, quality and conscience for the investment.
What diamond shape looks biggest for the money? Oval, marquise and pear cuts appear larger per carat than round shapes.
Which setting is most secure? Bezel and semi-bezel settings protect the stone’s edges best. See our Elongated Cushion-Cut Bezel-Set Ring for a stylish, protective example.
What if I don’t know my partner’s ring size? Bring a ring they wear on the left-hand ring finger or a close size. We can discreetly measure and advise on safe sizing or resizing options later.
What is the best metal for everyday wear? Platinum is ultra-durable and naturally white; 18ct yellow gold is classic; 14ct offers durability and warmth in between.
What does “ethical jewellery” actually mean? It refers to transparency, fair labour, and minimal environmental impact, values that define our sourcing and workshop practices.
Why choose an independent jeweller? Independent jewellers like Faire & Fine offer direct communication with the makers, fairer pricing, and the ability to customise every detail, from metal and setting to diamond shape.
Can you make a ring cheaper than those on the website? Yes! We can adjust carat, gold purity, or setting to bring the price down while maintaining beauty and craftsmanship. Book an appointment to explore bespoke quotes.
Should I insure my engagement ring? Yes. Your home or contents insurance can list it as a specified item.
Should I go bespoke or choose a ready-made design? Ready-made rings (like our Oval Trilogy are ideal for speed and value. For a one-of-a-kind creation, consider our Bespoke Lab-Grown Engagement Rings service.
Why is Hatton Garden the best place to buy an engagement ring in London? Because it combines generations of expertise, workshop access, and independent makers who truly care about quality all within a few streets of central London.
Timelines and What to Expect
Every Faire & Fine engagement ring is crafted to order in our London workshop. Standard lead time is around four weeks, but quicker options are often available depending on design complexity and workload. During Christmas, orders increase significantly, we recommend booking early to guarantee your date. Book an appointment to confirm your timeline.
Final Thoughts
An engagement ring should feel as personal and enduring as the love it represents. Whether you choose a solitaire, an Art Deco statement piece, or a bespoke design, you deserve craftsmanship, transparency and beauty that lasts. As a third generation family business in Hatton Garden, Faire & Fine combines traditional artistry with modern sustainability, helping couples across the UK find rings that align with their values and vision. Book an appointment to start your journey or discover our Bespoke Lab-Grown Diamond Engagement Rings and design something truly your own.