Best Tiffany Engagement Rings Under $5000

This article may contain links that help us earn a commission when you make a purchase. This comes at no additional cost to you.

If you are looking for the perfect diamond engagement ring without breaking the bank, then you’ve come to the right place. At Tiffany & Co., sometimes budgets can get tight when it comes to finding that one-of-a-kind piece of jewelry for your most special someone and Life Line Wedding is here to help! We’ve put together a list of some of our very best Tiffany engagement rings under $5000 so all lovebirds on a budget can find something sparkly and luxurious -without having to take out a second mortgage.

Buyer’s Note: You won’t find any engagement rings under $5000 featured on the Tiffany Co website. We had to get in touch with their customer support team to curate this list.

Related: Are Tiffany Engagement Rings Worth It?

Here’s what we’ll cover in this article (click to skip ahead):

Top 7 Tiffany Engagement Rings Under $5000

Note: some diamond engagement rings require you to contact a representative and fill out a form to get accurate pricing. Although there is no exact pricing on most of these rings below, they’ve been confirmed by customer care to be under $5000 USD.

This Tiffany Setting Engagement Ring in Platinum – 0.33 carat

tiffany setting ring in platinum 0.33 carat

Click here to view

This beautiful diamond is a very dainty option. Coming in at 0.33 carat weight, the center diamond is small yet packs a punch with its VS2 clarity and Excellent cut. The six-prong engagement ring settings accentuate the center stone to appear as if the diamond is floating above the band into the light.

This Tiffany Setting Engagement Ring in Platinum– 0.45 carat

tiffany setting ring in platinum 0.45 carat

This stunning ring is a similar ring to the previous one but with a slightly larger carat weight coming in at 0.45 carat. This option has slightly better clarity at VS1, but design wise is identical to the previous ring.

Click here to view

This Tiffany True Engagement Ring with a Round Brilliant Diamond

tiffany true round diamond

We’re huge fans of round diamonds and that is exactly what this Tiffany True engagement ring has delivered. The Tiffany True edition diamonds have a T-shaped detail in the setting as an icon of modern love. This ring features clean lines and striking details.

Click here to view

This Tiffany Harmony Round Brilliant Engagement Ring with a Diamond Platinum Band

tiffany harmony platinum band

We have to say this might be our favorite in the whole list. With its GIA certificate, this responsibly-sourced diamond from the Tiffany Harmony collection pairs perfectly with a wedding band and creates a gorgeous bridal duet.

The delicate four-pronged setting holds the 0.36 carat VVS1 diamond above the band to easily shine and sparkle in the light.

Click here to view

This Tiffany Novo Oval Brilliant Engagement Ring with a Pavé Diamond Platinum Band

tiffany novo oval platinum band

We’re switching it up here and including this Oval-cut diamond from the Tiffany Novo collection. With four slim prongs and contemporary lines, this timeless ring is symbolic to the feminine spirit.

Click here to view

This Tiffany Princess-cut Diamond Engagement Ring in Platinum

tiffany princess cut diamond in platinum

Over 50 chevron-shaped facets create the iconic princess-cut diamond at the center of this timeless design—a brilliant display of Tiffany’s masterful craftsmanship. We especially love how the four prongs fit so well with this shape of diamond to create a visually-pleasing flow on the right without any harsh features or sudden twists on the setting.

Click here to view

This Tiffany True Engagement Ring with a Tiffany True Diamond in Platinum

tiffany true diamond in platinum

This Princess-cut diamond from the Tiffany True collection comes with a refined platinum band to ensure quality craftsmanship, durability, and longevity of your diamond engagement ring.

Click here to view

Related: Best Tiffany & Co. Alternatives

How To Choose The Perfect Engagement Ring from Tiffany Under $5000

Choosing the perfect engagement ring from Tiffany & Co. can be a daunting task, especially where there aren’t many to choose from. However, if you’re knowledgeable about what you’re looking for it can be easy to find the right one.

We strongly suggest you know what your engagement ring should look like and have a good understanding of the 4C’s (cut, color, clarity, and carat).

Start by deciding on your favorite cut, such as round, princess, cushion, etc. Consider whether you prefer traditional metals like yellow gold or white gold, or even a unique metal like rose gold – they all look beautiful with the various stone cuts but really depends on your partner’s style, preference, and even lifestyle!

Once the general style is chosen, consider your budget – there are plenty of rings to choose from at every price point. But if you’re reading this article, there’s a good chance your budget is $5000, so we’re quite limited when shopping at Tiffany.

With these tips in mind and with patience to explore the options thoroughly, you’ll easily find the perfect engagement ring for under $5000 at Tiffany.

Related: Best Engagement Rings for Couples on a Budget – Under $5000

Pros and Cons of Buying From Tiffany & Co


One thing we love about Tiffany is their branding. They’ve been in the industry long enough to position themselves as the leader in quality craftsmanship. Similar to an antique art piece, the history behind the art adds value to the piece. So for many couples, purchasing a ring from Tiffany also means you’re contributing to their brand’s story and are purchasing a piece of their history.


If you know us, we’re huge advocates for shopping online as opposed to brick and mortar stores. In a nutshell, you typically get more competitive prices on your dream ring since online stores don’t need to account for rent, maintenance, utilities, and more.

Since Tiffany & Co has multiple physical locations, you can be certain you’re paying a lot more on average for a Tiffany ring. On the other hand, to shop smart, there are much more affordable and better quality alternatives to Tiffany that we recommend you take a look at before deciding on your dream ring.

Best Alternatives to Tiffany & Co. Under $5000

Although it’s hard to beat Tiffany & Co on luxury and quality, there are still plenty of options that provide gorgeous diamonds and superior customer support at more reasonable prices.

One alternative that stands out from the rest is James Allen. They’re well-known for their exquisite collection of diamond engagement rings and wedding bands at a fraction of the cost.

Our other favorite alternative to Tiffany is Clean Origin. They’re the leader in offering lab created diamonds with all the beauty of natural diamonds but with much lower costs.

Both companies are highly reputable in the industry and either of these options are a great choice for the best engagement rings without breaking the bank.

Tips For Saving Money When Buying an Engagement Ring From Tiffany

Buying an engagement ring from Tiffany is a lifelong investment, especially when you consider that they offer some timeless designs. When making an important decision like purchasing your diamond ring, it pays to know ways to save money.

Here are a few insider tips we recommend if you’re looking to save money when shopping at Tiffany for your engagement ring.

Buy pre-owned

Not a lot of couples prefer to do this, but if this is something you and your partner are comfortable with, then this is a great way to save money without compromising on quality. Just make sure there aren’t any noticeable damages to the center stone or the setting.

Fewer carats, more clarity

This one is quite self-explanatory. A larger carat diamond will cost a lot more than a smaller one. But buying a smaller carat diamond doesn’t mean you have to also have lower clarity. So we recommend if you’re going for a lower carat diamond, choose one with more clarity so the diamond can still sparkle and shine.


Our final tip is to avoid going for heavy and durable metals like platinum or 18k gold. Instead, opt for silver. To the untrained eye, silver can appear to look like platinum. So you can be sure your beautiful ring looks luxurious without having to spend way out of your budget.

Frequently Asked Questions

Does Tiffany Have Financing Options?

Tiffany currently offers interest-free financing for all engagement rings. In some select cases, they also offer a special credit card with 12 or 24-month financing plans on select purchases.

Does Tiffany Offer Insurance on Engagement Rings?

Tiffany does not offer insurance on engagement rings. You will have to contact an independent insurer or your own insurance carrier using the two valuation letters included with your purchase.

What is Tiffany’s Warranty Policy?

Tiffany offers lifetime warranty which includes care and repair, and complimentary ring polishing.

What is Tiffany’s Return Policy?

According to Tiffany’s website, articles are accepted for credit or exchange in the country where they were originally purchased, if returned in saleable condition within 30 days and accompanied by a sales receipt.

What is Tiffany’s Trade-In Policy?

Tiffany & Co. allows you to upgrade your original Tiffany diamond engagement ring at any time. You will receive a credit equal to your original purchase price, which can be used toward the purchase of a new Tiffany engagement ring.

Is $5000 Enough For a Tiffany Engagement Ring?

The short answer is yes. But you’ll be restricting yourself to a very limited collection and no room to make your engagement ring fit your personal style with customizations. If you’re on a budget and don’t want to be restricted in your designs and style, check out stores like James Allen or Clean Origin instead.

Photo of author
John Anderson
With over two decades of wedding experience, John Anderson is the Co-Founder and Executive Editor at Life Line Wedding. He writes a variety of articles spanning over multiple areas of expertise including engagement rings, diamonds, wedding jewelry, and wedding planning. John's mission is to help soon-to-be-married couples make educated and well-informed decisions. He now spends his time writing articles to help couples on John is based in Brooklyn, NY.