It is no secret that the oval diamond engagement ring has taken the North American and UK markets by storm. Celebrity endorsements (think Hailey Bieber and Ariana Grande) and the rise of “stackable” aesthetics have pushed this elongated shape to the forefront of jewelry trends .
But beyond its celebrity appeal, the oval cut offers a unique blend of vintage glamour and modern sophistication. Its elongated silhouette creates a flattering, finger-lengthening illusion while offering incredible brilliance due to its modified brilliant cut faceting.
If you are considering purchasing one, you likely have a lot of questions. How much does it cost? What is the price difference between natural and lab-grown? Can you get financing? How do you handle insurance? And most importantly, who is the best company to trust when you decide to buy online?
In this guide, we will break down everything you need to know about the oval diamond engagement ring, ensuring you make a confident and informed purchase.
Why the Oval Cut? A Look at Popularity and Value
In the United States and Canada, elongated shapes like oval, marquise, and pear are gaining significant ground against the traditional round brilliant. According to industry data, while round cuts still hold the largest market share, the oval shape is the top contender for those seeking a modern twist on a classic .
Why do buyers love it?
- Perceived Size: For the same carat weight, an oval cut looks larger than a round cut because of its elongated surface area.
- Finger Elongation: The shape draws the eye vertically, making fingers appear longer and more slender.
- Brilliance: As a member of the “brilliant cut” family, the oval retains much of the fire and sparkle of a round diamond.
However, there is a catch. The oval shape is notorious for the “bow-tie effect”—a dark, shadowy area across the center of the stone. Choosing a reputable best company ensures you get a well-cut stone that minimizes this effect.
The Oval Diamond Engagement Ring Price: Setting Your Budget
The price of an oval diamond engagement ring is determined by the 4Cs (Cut, Color, Clarity, Carat) and whether you choose a natural or lab-grown diamond.
Average Cost Breakdown
For buyers in the US, UK, and Canada, average spending varies. In North America, the average spend on an engagement ring hovers around $6,750, with many buyers targeting the $5,000 to $8,000 range . However, because the oval shape is generally more affordable than a round brilliant (due to higher rough diamond yield during cutting), you often get more bang for your buck .
- 1-Carat Natural Oval Diamond: Typically ranges from $4,000 to $9,000 depending on color and clarity.
- 1-Carat Lab-Grown Oval Diamond: Ranges from $1,000 to $3,000, offering a 30-40% cost savings compared to natural diamonds .
How to Manage Cost
- Prioritize Cut: Cut is the most important factor for sparkle. An “Excellent” cut oval will hide inclusions better and reflect more light.
- Consider “H” Color: An H color grade is the “sweet spot.” It is near-colorless but offers a 20-30% price advantage over D-F colorless grades .
- Clarity Sweet Spot: SI1 clarity is the most popular choice. Inclusions are usually invisible to the naked eye, keeping the cost manageable .
Financing Your Oval Dream
Given the significant investment, most jewelers offer financing options to help manage cash flow. When looking to buy online, always check the financing terms before checking out.
Common Financing Options:
- Store Credit Cards: Many of the best companies (like Blue Nile or Brilliant Earth) offer branded credit cards with promotional APRs, such as 0% financing for 6 or 12 months.
- Third-Party PayLater Services: Platforms like Affirm, Klarna, and PayPal Credit are increasingly common at checkout, allowing you to pay in installments.
- Lease-to-Own: Some retailers offer lease-to-own programs, though these often carry higher interest rates and are less common for fine jewelry.
Internal Linking Suggestion: Learn more about managing payments in our guide: “How to Choose the Best Engagement Ring Financing Plan.”
Protecting Your Investment: Insurance
Your oval diamond engagement ring is likely one of the most valuable items you will ever own. Whether you lose it, it’s stolen, or a prong gets damaged, insurance is non-negotiable .
How to Insure Your Ring
- Get an Appraisal: You need a professional appraisal that details the 4Cs, the exact price paid, and the replacement value. Do not rely on a sales receipt alone; insurance companies need a formal document .
- Review Your Homeowners/Renters Policy: Check your existing policy. Can you schedule the ring as a “rider” or “floater”? Companies like USAA allow this, often bundling it with renters insurance for a lower premium .
- Specialized Jewelry Insurers: Companies like Jewelers Mutual specialize exclusively in jewelry insurance. They often offer “new for old” replacement policies that are superior to general property insurance.
- Keep Documentation: Always keep your GIA/IGI certificate and HD photos of the ring. If you have a unique oval with a minimal bow-tie, take a video of it. In the event of a loss, this documentation helps you find an exact replacement .
Internal Linking Suggestion: Read our full deep-dive: “A Step-by-Step Guide to Insuring Your Engagement Ring.”
Where to Buy Online: Best Companies and Reviews
Deciding where to buy online can be daunting. You want the best company that balances price, quality, and customer service. Based on market reputation and customer reviews, here are the top contenders for US, UK, and Canadian buyers.
1. Blue Nile
Best for: First-time buyers and vast inventory.
Blue Nile is a pioneer in online diamond sales. They are known for their massive inventory of GIA-certified stones and competitive pricing. Their 360° diamond images are standard, and they frequently run financing specials.
- Review: Customers praise the easy navigation and return policy. However, some note that customer service can be transactional .
2. James Allen
Best for: Visualizing your diamond.
Now owned by the same parent company as Blue Nile, James Allen revolutionized the space with high-magnification 360° videos. This is crucial for an oval cut, as it allows you to scrutinize the bow-tie effect before you buy online .
- Review: Users love the ability to “walk the diamond” around the screen. It is often rated as the best company for seeing exactly what you are paying for.
3. Brilliant Earth
Best for: Ethically sourced and lab-grown diamonds.
If sustainability is a priority, Brilliant Earth leads the market in traceability. They offer a wide range of vintage-inspired settings perfect for oval diamonds and have showrooms across the US, UK, and Canada.
- Review: High marks for ethical sourcing, but some reviews mention higher price points for settings compared to competitors .
4. Earthshine Jewels
Best for: Budget-friendly custom designs.
For buyers looking for affordable luxury—especially with lab-grown ovals—Earthshine Jewels offers handcrafted, made-to-order pieces without the massive overhead of legacy brands .
- Review: Customers rave about the unique, romantic designs and the ability to get a high-carat oval look without the high cost.
5. Rêve Diamonds
Best for: US-based manufacturing and showroom experience.
Rêve Diamonds designs and manufactures in the United States. They offer everything from minimalist solitaires to complex side-stone designs (like their “Daisy” oval with kite sides). They also provide a free insurance valuation certificate with purchase .
- Review: Buyers frequently mention the high-quality packaging and the patience of the staff in helping select the perfect stone .
What to Look For in Customer Reviews
When researching the best company, do not just look at star ratings. Read the text of the reviews. Look for comments regarding:
- The Bow-Tie Effect: Did the buyer receive an oval with a distracting dark bow-tie? Positive reviews often mention how “clean” or “bright” the stone appears.
- Resizing and Returns: How easy was the process if the ring didn’t fit?
- Customer Service: Were they helpful when discussing financing options or negotiating the price?