We are constantly asked the following question – “How much do I spend on my engagement ring?” Please read below for useful information on how much you should spend for your diamond engagement ring.
UPDATE: Engagement Ring Average Spend is Rising
Online wedding brand The Knot has released the results of its 2017 Jewelry & Engagement Study. The biannual report surveyed more than 14,000 engaged or recently married brides and grooms from the U.S. to uncover proposal-related trends in America. Their finding is “Engagement Ring Average Spend is Rising.”
“We’re seeing proposers put more time, thought and effort into creating the perfect proposal, as well as an engagement ring they know their partner will love,” said Kristen Maxwell Cooper, editor-in-chief of The Knot. “And while proposals are less of a surprise than in years past, there’s an uptick in grooms returning to time-honored traditions, like proposing with the engagement ring in hand and getting down on one knee.”
Here are some of the key findings:
- Engagement Ring Average Spend is Rising: $6,351 (up from $5,095 in 2011)
- Average time spent looking for ring: 3.5 months
- Average number of rings looked at before purchase: 26
- Engagement rings with a custom design: 45%
- Most popular stone cut: round (52%)
- Average carat size for center stone: 1.2 carats
- Average carat size for total ring: 1.8 carats
- Most popular engagement ring setting metal: white gold (61%)
The study found that one in four grooms “meticulously” planned their marriage proposal “down to the last detail.” The average time spent planning a proposal was just under four-and-a-half months.
Joseph R. Villarreal, G. G. (GIA)