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If the engagement ring can be a pre-made or jeweller's created engagement ring, then it is important to buy that engagement ring from reputable jewelers to avoid being overcharged by unscrupulous traders who treat this like a once-off buy, and so take the opportunity to jack up the price.
When you purchase your gemstone from a reputable and honest jeweller, you can be certain of a reasonable value as he'll need to be your decision seller as it pertains to your real wedding, and hopefully can be your family jeweller, and to provide all your jewelry needs as time goes by.
So when it comes to the engagement ring, first settle on the style, then settle on the expenditure, then be sure to buy your engagement ring from the most respected diamond around.