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Best Places To Buy Cheap Engagement Rings Under £300

Although you can spend thousands of pounds on engagement rings, you can also pick up a decent diamond ring for under £300. You can even get something for £100 or £200 if you are on an even tighter budget.

You will need to decide what's important to you though - would you settle for a used diamond engagement ring, or would you prefer a new ring with a pretty small diamond?

Or would you consider gemstone engagement rings such as ruby, sapphire and emerald to make your £300 go further?

Option 1: Buy a second hand diamond engagement ring for under £300

£300 goes a pretty long way in the second hand engagement ring market, because the value of diamonds drops significantly if they have been 'preloved' or previously owned. Some people are superstitious about second hand jewellery, but if you don't live your life by reading horoscopes and avoiding black cats then you can get a bargain.

eBay is a good place to start, as it tends to have the biggest range of second hand diamond rings and it's easy to narrow down what you want.

If you were to search for second hand engagement rings under £300 you could expect to pick up a gold engagement ring with a weight of about 0.30 carat to 0.5 carat (1/2 carat). The same engagement ring purchased new could easily cost more than £1000.

A decent alternative to eBay is Etsy, which is generally known for handmade and vintage things, but which is also a marketplace for fairly standard second hand jewellery. Click here to search for Etsy diamond engagement rings under £300.

Option 2: Buy a new cheap engagement ring for under £300

You won't get as much for your money if you buy a new engagement ring on a budget of £300, but it's still enough to get a fairly impressive piece of jewellery.

Here are some examples of engagement rings you can get for under £300 (prices checked February 2024):

Amazon Jewellery (up to 1/3 carat for £290)
SuperJeweler (up to 1/3 carat carat for £326)
QP Jewellers (up to 0.15 carat for £259)

The Jewellery Channel (up to 0.5 carat for £324)
F Hinds (up to 0.15 carat for £300)
Diamonds Factory (up to 0.30 carat for £325)
Argos (up to 0.25 carat for £319)
Jewellery World (up to 0.25 carat for £270)
Littlewoods (0.25 carat for £296)

(Please note, some of the links on this site are affiliate links, but we include good deals regardless of whether they have the potential to earn money for the site or not).

Option 3: Buy a gemstone engagement ring, such as a ruby, sapphire or emerald.

You aren't obliged to buy a diamond engagement ring - the 'tradition' is merely a successful piece of marketing (although that may not hold much weight with your fiancée). There are some attraction alternative gemstone engagement rings which offer good value: