What’s the Average Price of an Engagement Ring in Central London?

Choosing an engagement ring is one of the most meaningful purchases you'll ever make — and if you're shopping in central London, it helps to know what you're walking into. Prices vary enormously depending on where you shop, what you're buying, and how well-informed you are before you go.

In short: Central London engagement-ring prices in 2025 average £3,928 nationally, but Hatton Garden and Mayfair specialists report a £4,500-£6,500 typical spend for a 1.00ct lab-grown D/VS1 round solitaire or 1.50ct lab-grown oval in 18kt gold or platinum, including bespoke design. Heritage Bond Street brands typically run £8,500-£18,000 for the same lab-grown specs and £15,000+ for natural equivalents.

In this guide, we break down the average cost of an engagement ring in central London, explain what drives the price up or down, and share practical advice for getting the best value — whether your budget is £1,500 or £15,000.

What Is the Average Price of an Engagement Ring in Central London?

For a good quality engagement ring in central London, most buyers spend between £1,500 and £5,000. Within that range, you can comfortably find a well-cut certified diamond in a classic solitaire or halo setting in white gold or platinum.

Buyers looking for larger stones, bespoke designs, or prestigious brand names will typically spend £5,000–£15,000 or more. At the other end of the scale, lab-grown diamond rings and alternative gemstone settings can bring a beautiful ring well within a £1,000–£1,500 budget.

It's worth noting that central London — particularly Bond Street and Hatton Garden — tends to price above the national average, reflecting higher overheads, more skilled craftsmanship, and access to premium certified stones.

According to our own research into 2025 engagement ring sales trends in the UK, buyer behaviour is shifting notably. More couples are prioritising stone size and quality over brand names, and lab-grown diamonds now represent a growing share of engagement ring purchases as buyers recognise the value they offer.