Most Engagement Rings Cost Over $1,000
The majority of brides have an engagement ring that cost over $1,000 according to an Easy Weddings poll. The most popular price range was $1,000 to $5,000 with 43% of brides reporting that their sparkler fell into this category. A surprisingly high 14% reported that their engagement ring cost more than $10,000, while only 9% said theirs cost less than $500. Only 1% reported that they didn’t have an engagement ring, and 3% said that theirs was a family heirloom.
Most couples feel that it is worth investing in an engagement ring as it is intended to last a lifetime. Although some women feel uncomfortable about wearing such an expensive item of jewellery on a daily basis, as long as you have adequate insurance and are covered against loss or damage there’s no need to worry.
Most people will tell you that the groom-to-be should spend at least one month’s salary on the engagement ring, but really that all depends on whether he can afford it or not; an engagement ring certainly shouldn’t be a reason for starting married life saddled with debt.
There is no standard design for an engagement ring, although Tiffany’s has made the single diamond solitaire the most popular choice. The cost of the ring generally depends on what it is made from, for example gold, platinum or palladium, and the quality of the stone. A diamond is graded by weight or carat, colour, cut, shape, and clarity. The most important of these is probably cut as it will affect the way the diamond sparkles in the light. It may be worth sacrificing the carat, colour and clarity a little for a good cut.
The advice is generally to go for the best quality engagement ring you can afford, but it’s important not to get too hung up about the cost of the ring. The love that the ring symbolises is far more important than what it is worth.