Thinking about a new ring? You’re not alone

Rings carry a lot of emotion, as well as beauty. Many people cherish the piece they were proposed with, but realise later that it no longer fits their lifestyle or taste. That can be a natural response to changing circumstances and a jewellery market that looks very different from a few years ago.

In 2025, a natural one‑carat diamond cost around £2,400–3,600, while a similar lab‑grown diamond was roughly £500–800. Prices have fallen so far that the average lab‑grown centre stone grew from 1.3 carats to 2.45 carats between 2019 and 2025. That shift has encouraged couples to choose larger, higher‑quality stones without spending more. In fact, more than half of all engagement rings sold in 2025 were set with lab‑grown diamonds .

Swap the word “upgrade” for “anniversary ring”

“Upgrade” implies that the first ring is second‑rate. If you love your original ring, say so. Let your partner know you’ll continue to wear it and see a new ring as a way to mark a milestone rather than replace the past.

A few ideas:

• Wear the original on your other hand or on special occasions.
• Reset the stone into a pendant.
• Keep it safe for your children one day.

Discuss budget and design together

Most ring recipients now have a say in the design . Talk openly about what you can afford, including the cost of the setting and metal as well as the stone itself-rising gold prices mean a heavier band can add significantly to the bill. Setting a budget together removes the pressure on one partner to guess what feels “right” and ensures both of you are comfortable with the spend.

Compare your stone options at a glance

Choosing the centre stone is a big decision. Here’s how lab‑grown diamonds, moissanite and white sapphires stack up.

Neither lab diamonds nor moissanite retain significant resale value, so choose the stone that makes you happiest rather than one you think will hold its worth.

For more on budgeting, see our guide to how much you should spend on an engagement ring . If you’re curious about other gemstones, read our overview of coloured gemstone alternatives . And to understand different settings and what they cost, our article on engagement ring settings covers the essentials.

Start the conversation gently

When you’re ready to broach the topic, honesty is best. A simple script might look like this:

• Affirm that you love your engagement ring and the memories attached to it.
• Explain why you’d enjoy another ring - for example, your lifestyle has changed or you’d like a different style.
• Suggest saving together so the purchase feels comfortable and avoid surprises.
• Invite your partner to browse rings with you so they understand what you like.

Ground your request in the fact that many couples now make ring decisions together and that a thoughtful conversation can lead to a choice you’ll both enjoy.

Keep the first ring part of your story

An anniversary ring does not erase your original ring; it adds to your narrative. Whether you rotate between them, wear them together or keep one safe for sentimental occasions, you can cherish both. The original ring marks the beginning; the new ring celebrates the journey you’ve made since.

FAQ

Is it rude to ask for a new ring?

It’s not rude if you approach the subject kindly and make it clear you still love your original ring. Many couples find that an anniversary ring honours their relationship without negating the first ring.

How do I know if we can afford it?

Discuss your finances openly and set a budget together. Remember that lab‑grown diamonds cost substantially less than mined stones, and that the average engagement ring budget has come down in recent years.

Should I choose lab diamond, moissanite or sapphire?

Lab‑grown diamonds offer the classic diamond look at a lower price. Moissanite is even more affordable and has intense rainbow sparkle. White sapphire is durable and subtle. Pick the stone that suits your taste and budget, knowing none holds strong resale value.

Do I have to stop wearing my original ring?

Not at all. Many people wear their original ring on another finger, use it for special occasions or keep it safe as a family heirloom. There’s no rule that you must replace it entirely.