How Much To Spend On Engagement Ring

Just a little history on engagements in the 20th century.

In the 20th century, if he could afford it, the typical Western groom privately selected and purchased an engagement ring, which he then presented to his desired bride when he proposed marriage. More recently, couples frequently select an engagement ring together. In countries where both partners wear engagement rings, matching rings may be selected and purchased together.[3] In the United States and Canada, where only women commonly wear engagement rings, women occasionally present their partners with an engagement ring.[4]

Like all jewelry, the price for an engagement ring can vary considerably depending on the materials used, the design of the ring, whether it includes a gemstone, the value of any gemstone, and the seller. The idea that a man should spend two to three months’ personal wages for an engagement ring originated from De Beers marketing materials in the early 20th century, in an effort to increase the sale of diamonds.[2] In 2007, the average cost of an engagement ring in USA as reported by the industry was US$2,100.[5]

The price of the gemstones, if any, in the ring depends on the type and quality of the gem. Diamonds have a standardized description that values them according to their carat weight, color, clarity and cut. Other gemstones, such as sapphires, rubies, moissanite, emeralds, have different systems. These may be chosen to honor a family tradition, to use family heirlooms, to be unique, to be socially responsible, to fit the individual’s stylistic preferences, or to manage cost. Synthetic stones and diamond substitutes such as cubic zirconias are also popular choices that reduce cost while maintaining the desired appearance.