The Ultimate Luxury Guide to Buying Gemstone Engagement Rings

History of Gemstone Engagement Rings

The history of gemstone engagement rings dates back to the 14th century. In this period it was common to have “Betrothal rings”. These rings from antiquity were commonly exchanged by royals and nobles as symbols of friendship or marital love. The conventions and practices of these exchanges were different between countries and centuries. However, the symbolism of a gemstone ring has remained the same throughout centuries as a symbol of romantic love, truth, and commitment. Today, gemstone engagement rings are a unique and popular choice for engagement rings. The most popular gemstone engagement rings feature a sapphire, ruby or emerald as the center stone. Natural ruby, emerald, and sapphire engagement rings are highly desirable to a growing number of couples that want a unique symbol of love.

Why a Gemstone Engagement Ring?

Gemstone engagement rings are rising in popularity for couples that are seeking a unique engagement ring. The emerald, ruby, and sapphire all have their own symbolism and vibrant color leading to many different opportunities to stand out. A gemstone engagement ring is a meaningful and unique way to symbolize your love. Additionally, depending on the gemstone, the price is often lower than diamonds of the same carat. However, the provenance, origin of the gemstone, color, and clarity are crucial determining factors for the price of a gemstone engagement ring. The most common setting for a gemstone engagement ring is a three-stone engagement ring. This style is elegant and timeless. The center gemstone will always shine when flanked by two diamonds. The second most popular gemstone engagement ring style is a solitaire. A solitaire is an amazing way to show off the color of the gemstone, especially if you go for a gemstone larger than 3 carats. For a statement making luxury gemstone engagement ring, Sotheby's specialists suggest looking for an engagement ring with a 5 carat or larger center gemstone.

Sapphire Engagement Ring

A sapphire is the most popular gemstone engagement ring. Historically, sapphires were considered a symbol of nobility and were used in royal crown jewelry. The popularity of a sapphire engagement ring dates back centuries, however, the sapphire engagement ring was ultimately put on the map by Princess Diana. Her sapphire engagement ring is a blue Ceylon sapphire set in white gold with a halo of fourteen diamonds. Princess Diana’s ring was inspired by a brooch made by the British jeweler, Gerrard, for Queen Victoria. Today, Princess Diana's sapphire engagement ring with a halo setting is one of the most popular choices when it comes to sapphire engagement rings worldwide. Prince William proposed to Kate Middleton in 2010 with his late mother's Ceylon sapphire engagement ring. When the ring was first purchased it was valued at $60,000 in 1981 but today the ring is worth over $600,000.

The main attraction of a sapphire ring is its color. Sapphires come in multiple colors and hues. While the deep vivid blue is the most popular, sapphires also come in pink, yellow, and orange. The most popular blue hued sapphire is a royal sapphire. Royal sapphires are sourced around the world, Ceylon is the area with the most royal blue sapphires. The second most popular blue hued sapphire is a cornflower blue sapphire. These sapphires are medium to light blue and have undertones of purple. A cornflower blue sapphire can start at around $2,300 per carat and rise to over $6,000 per carat. A sapphire engagement ring's cut, clarity, and carat are also important aspects. The price of a 5-carat sapphire and diamond three-stone engagement ring starts at around $25,000 and goes up to $350,000+ depending on color, clarity, origin, cut, and carat.

Emerald Engagement Ring

Emeralds are known for their rich, green color and are often associated with love, rebirth, and fertility. They can be a beautiful alternative to the traditional diamond, offering a touch of elegance and individuality. Emeralds are desirable for their rich tone, saturation, and intense evergreen color. Colombian emeralds are considered the best emeralds and known for their deep color. The most popular shape for an emerald ring is an emerald cut. Many celebrities are drawn to emeralds for their uniqueness and attractive color. Victoria Beckham has a cushion-cut emerald engagement ring surrounded by a halo of diamonds. The former First Lady Jackie Kennedy was proposed to with a toi et moi ring featuring an emerald with a diamond. If you are looking for an emerald engagement ring, Sotheby’s suggests starting with considering emeralds at 5 carats or above. A 5-carat emerald gemstone will show off the color and stand out on your ring finger. The price for an emerald engagement ring on Sotheby's marketplace starts at $30,000 for a solitaire 5.5-carat Colombian emerald engagement ring. If you are interested in a branded engagement ring from a luxury jeweler like Van Cleef & Arpels or Harry Winston, the prices start at $170,000 for emerald engagement rings.

Ruby Engagement Ring

A passionate choice for a gemstone engagement ring is a ruby engagement ring. Rubies are known to symbolize love, commitment, and beauty. The warmth of the red tone makes it a great choice for brides who are drawn to the ephemeral qualities of ruby gemstones. The most popular settings for a ruby engagement ring is a three-stone setting or a halo setting. Each setting highlights the dynamic gemstone in a special way making it stand out. Sotheby's jewelry specialists suggest looking for only natural unheated rubies. Rubies possess unique natural qualities like silk inclusions making each natural stone unique. The main ruby mining areas for rubies are Myanmar (Burma), Mozambique, and Ratnapua. Each location is known for producing rubies with a distinct ruby red color. Pigeon blood rubies are rubies which exhibited the deepest most desired red color. Pigeon blood rubies are the most expensive and desirable rubies on the luxury market. The mines most famous for producing rubies classified as pigeon blood ruby are in Burma. The Burma mines are commonly called the “Valley of Rubies'' and have produced some of the largest pigeon blood rubies in the world. The price for a 2.5-carat Burmese pigeon blood ruby starts at around $30,000 per carat. For a 3.5-carat pigeon blood ruby, the price will start around $55,000 per carat. For a 5-carat pigeon blood ruby, the price will be around $320,000 per carat. All prices listed above are estimates for a pigeon blood ruby based on auction sales from 2023-24. For a non pigeon blood ruby engagement ring the prices start at $30,000 for an unheated 2.5-carat Burmese ruby engagement ring. The price goes up exponentially based on the color and clarity of rubies. On the high end of the ruby engagement ring market rings can start at above $300,000.

Buying a Gemstone Engagement Ring At Sotheby’s

Sotheby's is here to assist with your gemstone engagement ring purchase or sale. We have a curated selection of gemstone engagement rings available on Marketplace for immediate shipping. Sotheby's also sells gemstone engagement rings from top luxury brands including Harry Winston, Tiffany, Cartier, and more. In addition to the gemstone engagement rings listed on the marketplace or available at auction, Sotheby's can also source a gemstone engagement ring and other jewelry from its global supplier network.

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