The short answer
Custom engagement rings in Melbourne typically cost between $5,000 and $25,000 for a full bespoke design, though simple designs can start lower and elaborate multi-stone pieces can run well beyond that. The three biggest cost drivers are the centre stone, the metal, and how complex the setting is.
A rough breakdown
• Under $5,000 - generally a smaller or lab-grown centre stone with a simpler solitaire or trilogy setting
• $5,000–$15,000 - the range most custom clients land in, covering a solid natural or larger lab-grown diamond with a considered setting
• $15,000+ - larger natural diamonds, coloured gemstones, or highly detailed multi-stone designs
Natural vs. lab-grown diamonds
Lab-grown diamonds are chemically identical to natural stones but typically cost significantly less for the same size and quality, which is why many custom clients choose to put the savings toward a larger stone or a more elaborate setting. Micheli lays both options out side by side during the consultation so the trade-off is easy to see.
Where the money actually goes
Unlike a retail ring, a custom price isn't just materials - it covers design time, stone sourcing, CAD modelling, casting, and hand-finishing, all specific to your piece. That's the difference between buying a ring and having one made.
Next step
The most useful thing you can bring to a first consultation isn't a Pinterest board - it's a budget. Micheli's designers will build design options around that number rather than pricing you out after you've already fallen for a concept.
