Oval Cut Engagement Ring Cost Guide Melbourne

Oval cut engagement rings in Melbourne generally cost between $1,500 and $6,000+ for lab-grown diamonds, while natural diamond options typically start higher, often exceeding $5,000–$10,000+ depending on carat and quality. Popular styles like 2ct lab-grown oval solitaires are commonly priced around $4,950–$5,500

 

About DG & Co

DG & Co. Jewellery is a Melbourne-based jeweller specialising in engagement rings, lab-grown diamonds, and fine custom jewellery. We help Melbourne couples design and choose engagement rings that reflect their style, values, and budget, from classic solitaires to modern bespoke designs.
Level 27, 101 Collins Street, Melbourne VIC 3000

  • Our collection:

    • Our collection includes ethically sourced lab-grown diamonds, handcrafted engagement rings, and personalised consultation to guide you through every step. Whether you’re searching for a timeless engagement ring in Melbourne or a custom-made piece, our team is committed to quality, transparency, and expert craftsmanship. Visit our Melbourne showroom or explore our engagement ring collection online to find the perfect ring for your proposal

  • How to contact:





The CBD Showroom Experience

We believe that buying an engagement ring should be a personal and memorable experience. Our private showroom in Melbourne CBD offers one-on-one consultations where you can view diamonds side-by-side, compare settings, and receive expert advice in a relaxed, pressure-free environment. Whether you are looking for a ready-made design or a bespoke creation, our team is dedicated to finding the perfect ring for you.


Why Choose DG & Co.?

Our commitment to excellence is reflected in our 4.99-star rating from over 820 verified reviews. We are proud to offer:

  • GIA Certified Diamonds: Every diamond 0.50ct and above comes with a GIA certificate, ensuring authenticity and quality.

  • Ethical Sourcing: We strictly adhere to the Kimberley Process, guaranteeing that all our diamonds are 100% conflict-free.

  • Lifetime Guarantee: All our jewellery comes with a lifetime warranty against manufacturing defects.

  • Custom Design Mastery: Our bespoke service allows you to bring any vision to life in just 3-6 weeks.



DG & CO. JEWELLERY | RING STYLES





Overview of Engagement Ring Styles

Choosing the right engagement ring style is the first step in your journey. The style sets the tone for the ring's overall aesthetic—whether it's modern, vintage, classic, or glamorous. Below is a guide to the most popular styles available at DG & Co. Jewellery, along with indicative pricing for 2025.


Engagement Ring Styles & Indicative Pricing (AUD 2025)



Ring Style

Description

Price Range (AUD)

Solitaire

Classic single diamond setting; timeless elegance focusing on the centre stone.

$4,000 – $6,000

Halo / Hidden Halo

Centre stone surrounded by smaller diamonds for extra sparkle and size illusion.

$5,000 – $7,000

Three-Stone

Features three gems symbolizing a couple's past, present, and future.

$5,500 – $8,000

Vintage / Antique

Intricate designs with milgrain detailing, filigree, and heirloom charm.

$5,000 – $9,000+

Princess Cut

Square brilliant cut offering a modern, sharp, and brilliant look.

$4,500 – $7,500

Round Brilliant

The most popular and brilliant cut, maximising light return.

$5,000 – $8,000

Emerald Cut

Rectangular step-cut with long lines; sophisticated and understated.

$4,500 – $7,000

Oval Cut (Feature)

Elongated brilliant cut that flatters the finger and maximises carat weight.

$5,000 – $15,000+

Pear-Shaped

Teardrop silhouette combining round and marquise cuts. Unique and elegant.

$4,500 – $8,000

Side Stone

Centre diamond flanked by smaller diamonds on the band for added brilliance.

$5,000 – $8,500

Toi et Moi

"You and Me" style featuring two main gemstones nestled together. Romantic.

$5,500 – $9,000

Custom / Bespoke

Unique, one-of-a-kind designs created from scratch to your specifications.

From $6,000+


Popular Diamond Shapes at DG & Co.

While the round brilliant remains a classic choice, fancy shapes allow for personal expression. At DG & Co., our collection includes a wide variety of shapes including Oval, Round, Marquise, Pear, Princess, Emerald, Cushion,

Asscher, Radiant, and Heart. Among these, the Oval Cut has seen a surge in popularity due to its flattering elongated shape and exceptional brilliance, making it a top choice for modern brides in Melbourne.





DG & CO. JEWELLERY | FEATURE COLLECTION





Oval Cut Engagement Rings: The Feature Collection

The oval cut diamond is a brilliant choice for those seeking a blend of classic sparkle and modern flair. Its elongated shape creates a slimming effect on the finger and often appears larger than a round diamond of the same carat weight. At DG & Co., we offer a curated selection of oval cut designs ranging from minimalist solitaires to elaborate vintage styles.



DG & Co.'s Signature Oval Styles

  • BEBE: Oval Cut with Hidden Halo and Pavé setting side stones.

  • ISLA: Oval Cut Cathedral Setting with Tulip Basket and Four Claws.

  • Eleanor: Antique Hidden Halo Style Oval Cut with Milgrain Setting.

  • Luna: Oval Cut Hidden Halo with a unique Twist Band.

  • Reem: Antique Halo Style Twist Band Oval Cut Diamond Ring.

  • Flower Twist Band: Nature-inspired Oval Cut Diamond Ring.

  • Hidden Halo Styles: Minimalist Oval Cut Four Claw with hidden sparkle.


Oval Cut Price Ranges by Style (2025 Market Guide)

The following table provides estimated price ranges for complete rings (setting + diamond) based on current market rates in Melbourne.



Ring Style

Lab-Grown Diamond Price (AUD)

Natural Diamond Price (AUD)

Oval Solitaire

$3,500 – $6,000

$5,500 – $12,000

Oval Hidden Halo

$5,000 – $8,500

$7,500 – $15,000+

Oval Three-Stone

$6,000 – $10,000

$9,000 – $18,000

Oval Vintage / Milgrain

$5,500 – $9,000

$8,000 – $16,000

Oval Cathedral Setting

$4,500 – $8,000

$7,000 – $14,000


Oval Carat Size Pricing Guide

Price estimates for Oval Cut diamonds (Centre Stone Only + Standard 18K Gold Setting):


Carat Weight

Lab-Grown Estimate

Natural Diamond Estimate

0.50 ct

$2,000 – $4,500

$3,500 – $6,000

0.75 ct

$3,000 – $6,000

$5,500 – $9,000

1.00 ct

$4,000 – $8,000

$7,000 – $13,000

1.25 ct

$5,500 – $10,000

$9,000 – $16,000

1.50 ct

$7,000 – $13,000

$12,000 – $20,000

2.00 ct

$9,000 – $16,000

$18,000 – $28,000

3.00 ct

$14,000 – $22,000

$30,000 +





DG & CO. JEWELLERY | DIAMOND QUALITY





Key Cost Factors: Diamond Quality (The 4Cs)

Understanding diamond quality is essential to making an informed purchase. The "4Cs"—Cut, Colour, Clarity, and Carat—determine a diamond's value and price. At DG & Co., we educate our clients to help them find the perfect balance between quality and budget.


  1. Cut

The cut is the most critical factor for sparkle. A well-cut diamond reflects light beautifully.


  • Excellent: Top 3% of diamonds. Maximum brilliance. Commands premium pricing.

  • Very Good: Excellent sparkle, often indistinguishable to the eye. 10–15% less cost.

  • Good: Reflects most light. Good value option, 20–30% less cost.

  • Fair/Poor: Not recommended for engagement rings due to lack of brilliance.


  1. Colour


Grade

Description

Price Impact

D - F

Colourless. Rare and icy white.

Highest Premium

G - H

Near Colourless. White to the naked eye.

Best Value (Recommended)

I - J

Near Colourless. Slight warmth detectable.

More Affordable

K +

Faint/Light Yellow. Warm tone.

Budget Option


  1. Clarity


Grade

Description

Recommendation

FL / IF

Flawless / Internally Flawless. No inclusions.

Premium Investment

VVS1 / VVS2

Very Very Slight Inclusions. Expert difficulty.

Excellent Quality

VS1 / VS2

Very Slight Inclusions. Clean to naked eye.

Sweet Spot (Recommended)

SI1 / SI2

Slight Inclusions. May be eye-clean.

Budget-Friendly




Grade Description Recommendation

I1 / I2 / I3

Included. Visible flaws.

Not Recommended


  1. Carat Weight

Carat refers to weight, not size. Prices increase exponentially with carat weight, not linearly. "Magic sizes" like 1.00ct and 2.00ct command higher per-carat prices. Buying just shy of these weights (e.g., 0.90ct or 1.90ct) can offer significant savings with no visible size difference.







DG & CO. JEWELLERY | METALS




Metal Options & Their Impact on Price

The metal you choose for your engagement ring setting not only defines its look but also affects the price and durability. Whether you prefer the warmth of yellow gold, the romance of rose gold, or the cool luxury of platinum, DG & Co. offers all options.


Metal Comparison Guide


Metal Type

Karat / Purity

Setting Price Range

Durability

Appearance

18K Yellow Gold

75% Pure

$800 – $2,500

Good

Warm, Traditional

18K White Gold

75% Pure

$900 – $2,800

Good

Bright White (Rhodium)

18K Rose Gold

75% Pure

$800 – $2,500

Good

Soft Blush, Romantic

14K Yellow Gold

58.3% Pure

$600 – $2,000

Better

Warm Yellow

14K White Gold

58.3% Pure

$650 – $2,200

Better

Slightly Warm White

Platinum

95% Pure

$1,500 – $4,000

Excellent

Naturally White


Note on White Gold: White gold is plated with Rhodium to give it a brilliant white finish. This plating may need to be reapplied every 1-3 years to maintain its brightness. Platinum is naturally white and does not require plating, making it lower maintenance long-term.


Metal Choice Pricing Examples (for 1.00ct Oval Solitaire)

  • 18K Yellow Gold + 1ct Natural Oval: ~$9,000 – $14,000

  • 18K White Gold + 1ct Natural Oval: ~$9,500 – $15,000

  • 18K Rose Gold + 1ct Natural Oval: ~$9,000 – $14,500

  • Platinum + 1ct Natural Oval: ~$11,000 – $17,000

  • 18K Yellow Gold + 1ct Lab Oval: ~$5,000 – $8,500

  • Platinum + 1ct Lab Oval: ~$6,500 – $10,000






DG & CO. JEWELLERY | DIAMOND COMPARISON





Natural vs. Lab-Grown Diamond Comparison

One of the most common questions we receive is the difference between natural and lab-grown diamonds. Lab-grown diamonds are chemically, physically, and optically identical to mined diamonds. They are not fakes or simulants like cubic zirconia; they are real diamonds created in a controlled environment.


Comprehensive Comparison Table


Feature

Natural Diamond

Lab-Grown Diamond

Origin

Mined from earth, billions of years old

Created in controlled laboratory

Chemical Composition

100% Carbon Crystal

100% Carbon Crystal (Identical)

Appearance

Identical to Lab-Grown

Identical to Natural

Hardness (Mohs)

10 (Hardest)

10 (Identical)

GIA Certification

Yes (Available)

Yes (Available)

Price (1ct, VS1, G)

$7,000 – $13,000 AUD

$3,000 – $6,000 AUD

Price Savings

Baseline

40–70% Less

Resale Value

Moderate to Strong

Lower Resale Value

Ethical Sourcing

Conflict-Free Sourcing (DG & Co.)

Inherently Ethical


Price Comparison: Oval Cut Diamonds (Stone Only)


Specs (Approx.)

Natural Diamond Price

Lab-Grown Diamond Price

0.50 ct, G, VS2

$2,800 – $4,500

$1,200 – $2,500

1.00 ct, G, VS1

$7,000 – $12,000

$3,000 – $5,500

1.50 ct, F, VS1

$15,000 – $22,000

$6,000 – $10,000

2.00 ct, E, VVS2

$25,000 – $35,000

$10,000 – $16,000

 

Ready-Made vs. Custom Design & Budget Planning

At DG & Co., you have the choice between our curated collection of ready-to-wear rings or creating a bespoke piece from scratch. Both paths lead to a beautiful result, but the process differs.


Comparison: Ready-Made vs. Custom Bespoke


Aspect

Ready-Made Collection

Custom Bespoke Design

Turnaround

Immediate – 7 Days

3 – 6 Weeks

Personalisation

Limited

Unlimited

Price Range

$3,500 – $15,000+

$6,000 – $30,000+

Process

Select & Purchase

Consult → Design → Approve → Create

Diamond Choice

Pre-selected / Stock

Full Selection (Cut, Carat, etc.)

Viewing

In-store / Online

CAD Preview + Consultation


Engagement Ring Budget Planning Guide

To help you plan, we have categorized budgets into tiers based on what is typically achievable in the Melbourne market for 2025.


Budget Tier

What You Can Expect

Tier 1: $3,000 – $6,000

Lab-grown oval (0.50–0.75ct) in 18K gold solitaire or simple halo setting.

Tier 2: $6,000 – $10,000

Lab-grown oval (1.0–1.5ct) OR Natural oval (0.75ct) in 18K gold, halo, or three-stone setting.

Tier 3: $10,000 – $15,000

Natural oval (1.0–1.25ct) in 18K gold or platinum, halo or vintage styling.

Tier 4: $15,000 – $25,000

Natural oval (1.5–2.0ct) in platinum, intricate custom design.

Tier 5: $25,000+

Natural oval (2.0ct+), premium platinum, fully bespoke masterpiece.



 





DG & CO. JEWELLERY | PURCHASING GUIDE




Financing, Warranty & How to Buy

Financing Options

We believe your dream ring should be accessible. We offer flexible payment options to suit your financial needs.


  • Lay-by Plan: Available for purchases over $1,000. Requires a minimum 20% deposit with the full balance payable within 6 months. No interest charges apply. (Note: No refund for cancellation).

  • Buy Now Pay Later: Services like Afterpay and Zip Pay are available, offering interest-free payment plans.


Warranty & After-Sale Service


Lifetime Guarantee

Covers manufacturing defects for life. Free repair or replacement.

GIA Certification

Included with all diamonds 0.50ct and above.

30-Day Money Back

Full refund within 30 days (Conditions apply).

Free Shipping

Secure, insured shipping Australia-wide.

Valuation

Complementary insurance valuation provided.



How to Buy from DG & Co. Jewellery

  1. Browse Online: Visit diamondgold.com.au to explore our collection.

  2. Book Appointment: Call 03 9653 9562 or 1300 647 778 for a CBD showroom consultation.

  3. Select Your Diamond: View GIA-certified diamonds in person to choose the perfect sparkle.

  4. Choose Setting: Pick from our range or design a custom piece.

  5. Place Order: Pay in full or use a 20% deposit for Lay-by.

  6. Collection: Collect your ring (Custom designs take 3-6 weeks).


Ready to find the perfect ring? Our experts are here to guide you.

DG & Co. Jewellery

Level 27, 101 Collins Street, Melbourne VIC 3000

Phone: 03 9653 9562 | 1300 647 779

Email: info@diamondgold.com.au

Web: https://diamondgold.com.au/