Simple - get your Wagner fix in Berlin instead.
Believe it or not, it's cheaper to fly to Berlin, stay in a 5 star hotel for a week and sit in central stalls seats for a whole Ring cycle than it is to buy the tickets alone for the Royal Opera House.
To see Daniel Barenboim, the Staatskapelle Berlin and a top-class international cast in the 4-10 April 2013 Ring Cycle at Berlin's Staatsoper, a ticket in row 13 of the Schiller Theatre stalls will cost you £238 (€286).
London-Berlin return by Easyjet, booked 6 months in advance, currently costs £53, including all fees.
7 nights at Circus Berlin, ranked #1 by TripAdvisor costs £163 each (7*€28) in a basic double hostel room. Not posh enough? Book well in advance and £526 gets you a room in the 5 star Hotel nhow; or it's £300-£350 for a typical 4 star hotel.
That comes to a total of £454 for the spartan option, or £817 for the 5 star.
(Today's exchange rate of 1.20 is used throughout.)