The most expensive diamond sold by one jeweller to a buyer in Dubai recently was worth an astronomical Dh15 million. The luxurious piece was a 15-carat sparkling diamond of stunning quality. But you don't have to buy the most expensive ring or drain your fortunes to impress the lady in your life.

If you're on a tight budget, try looking for diamond rings in the low-range category, where prices can vary between Dh700 and Dh2,000, says Iyad Almadi of Damas Boutique in Dubai Mall. You can also check out charming pieces in pave settings, where the tiny gems are set closely together. If you opt for a single stone, you can get less than 0.5 carat with average to good colour and clarity.

"Diamonds in pave settings are very popular because they're not very expensive. They're not single stones. They're small bits or more like crushed diamonds encrusted together in different designs," explains Almadi.

In the medium range, diamonds can cost between Dh3,500 and Dh12,000. Your choices can range between half and one carat weight. There are many varieties of pave settings you can choose from, and you have good options in terms of colour and clarity. Diamond rings in the high-range category can cost between Dh15,000 and Dh100,000. You can go for one to three carat with good colour and clarity.

Diamonds in the very high-range category cost more than Dh100,000 up to millions.

"If you pay this amount for a ring, it should have the perfect cut, excellent colour, symmetry and proportions. You don't have to worry about clarity because you will definitely get the flawless piece or the one in the VVS (very very slightly included) category," says Almadi.

Special setting

Oofrish Contractor, marketing manager of Liali Jewellery, says those who have a limited budget can opt for the smallest solitaire diamond of 0.06 carat in an 18-carat gold setting for Dh875. "It is set in a special setting which gives the diamond a bigger look," she says.

You can also opt for a quarter-carat solitaire in an 18-carat gold setting for Dh985 to Dh2,000, depending on the quality of the diamond. "For 1,800, one can get a good quality diamond ring that offers excellent value for money," she adds.

If you want a larger stone, you can choose a one-carat solitaire ring in an 18-karat gold setting. This will cost you between Dh12,850 and Dh22,000, depending on the diamond quality. A 2-carat solitaire ring in an 18-carat gold setting will cost approximately Dh24,950.