"Semiprecious stones, such as morganite, are very inexpensive and make beautiful diamond alternatives," Wegman suggests. "Sapphires and other gemstones can be more affordable than diamonds, but like any center stone, you are paying for how rare something is, so size, shape, and color can play a role in pricing. Do your homework and then work with your jeweler, so you can see a variety of looks and pricing," says Trevizo.