Buying an engagement ring can be a stressful and time-consuming experience. So at Wallace Bishop, we’ve created this Engagement Ring Buying Guide to enlighten you on your choices and make your experience enjoyable and memorable.

In this guide, you will find everything you need to know help you find the perfect engagement ring. A beautiful sparkling diamond says more than words: it’s the strongest expression of your love and commitment for the special person in your life. All Wallace Bishop’s diamond engagement rings are made with the highest quality diamonds and precious metals, and we can create a design to suit every individual’s needs. 


 Shop our Engagement Rings here 

Design Your Own 

Can’t find a ring that’s quite your style? How about designing your own with the expert help of our experienced design consultants. There’s one in each of our stores. Make an appointment today at any Wallace Bishop store and be involved in the entire process of creating your very own engagement ring. Our design consultant can help you select the right gem, and then design the perfect setting. Once this phase has been completed, our workshop team of highly skilled master jewellers will create your very own engagement ring. 

How Much Should I Spend on an Engagement Ring? 

It is often perceived that engagement rings are synonymous with two things: overly enthusiastic sales girls and overly expensive price tags. Everywhere we go we are bombarded with messages about finding that ‘perfect ring’ and yet how do you know how much is the right amount to spend on the perfect ring? 

The engagement ring is just the first of many wedding related expenses so it’s important you buy an a ring you can reasonably afford. That having been said, an engagement ring is meant to last a lifetime as the eternal symbol of your love and commitment, so it should be of the highest quality.  

When it comes to buying an engagement ring for your fiancée, how do you achieve that perfect balance? 

Your budget should depend on your earnings 

The most commonly accepted method of budgeting for your engagement ring is based around your monthly salary. Based on Australian averages this puts most engagement rings at just over $3000, but this can vary depending on the individual. Traditionally, the more you earn, the more you will be expected to spend. However, the golden rule of determining how much to spend on an engagement ring is only to spend what you can afford. The sentiment and significance of the ring is far more important than its cost. 
Choose a ring based on taste rather than price 
Don’t write off the perfect ring just because it doesn’t add up to one month’s salary. If your fiancée has small hands and a slight figure a large expensive diamond may look disproportionate on them. Similarly, if your partner prefers wearing gold there is no point in buying a platinum ring just because it costs more. The perfect ring is judged on how well it compliments your partner’s style and taste, not on the size of its price tag.  

Get the best deal 

If you want a quality engagement ring that won’t break the bank, check out the diverse range of wedding jewellery from Wallace Bishop. Our extensive collection of engagement rings will have something right for you and your fiancée. 
With thousands of variations in colour, cut, clarity and carat it’s easy to get caught up in the frenzy of buying the perfect engagement ring. Whatever your budget, it’s important to never lose sight of the big picture. Finding the perfect engagement ring at the perfect price is important but your love for that person is worth more than any piece of jewellery. 

To view our range of engagement rings, check out our online store here or visit a Wallace Bishop store near you. 





By referring to the Diamond Buying Guide and the Styles & Settings Guide you will find everything you need to know about finding the perfect diamond and aesthetic.

May 14, 2022