How much do people typically spend on Engagement Rings?

[Carats]

I know it obviously depends on your means, salary, etc but what are some average ranges that people spend. The reason I ask is wherever I go I always see these beautiful large (1.5 + ) stones and now that I have started to investigate the prices, I''m like "wow, expensive".

And how much discount (%) can people expect to receive if they are a good negotiator?

 

[justjulia]

For me, this was a sllllooooooowwww process. It wasn't like I walked in and bought a large rock right off the bat. My husband researched and chose where he bought based on the return policy and the upgrade policy. I have upgraded several times over the years. It was a lot less painful financially done that way, in baby steps.

 

[asscherisme]

Several times Julia? Wink wink, maybe more than several times

But I agree with what Julia''s point is, many of the rings you see are not the original rings. And I bet that a lot of those rings are not even real diamonds. CZs are marketed heavily these days.

I think the worst thing is to buy a ring that is mor ethan you are comforatble spending becuase of feeling the need to keep up.

I think the average diamond is less than a carat and around $3K. But I could be way off on that. I remember reading it somewhere.

What you see on here is not the norm. Its people super interested in diamonds or researching diamonds. The average person walks into a store and buys an inferior stone without researching.

So the best price is what you are comfortable spending

 

[starryeyed]

Hi Carats and Welcome to PS!

Asscherisme has given you some good advice - spend what you are comfortable spending.

That said, DeBeers has been notorious for setting these spending expectations - they say in the US, 1-2 months salary. Here is a LINK to the A Diamond is Forever site.

Some people are crazy about diamonds and will spend more. Others don''t place a huge priority on a diamond and spend less. There are many other expenses to think about when getting married also. Some people prefer a huge fairytale wedding and then spend less on the ring. Others elope. It really depends on YOU.

 

[justjulia]

Date: 2/2/2007 6:24:23 PM
Author: asscherisme
Several times Julia? Wink wink, maybe more than several times

But I agree with what Julia''s point is, many of the rings you see are not the original rings. And I bet that a lot of those rings are not even real diamonds. CZs are marketed heavily these days.

I think the worst thing is to buy a ring that is mor ethan you are comforatble spending becuase of feeling the need to keep up.

I think the average diamond is less than a carat and around $3K. But I could be way off on that. I remember reading it somewhere.

What you see on here is not the norm. Its people super interested in diamonds or researching diamonds. The average person walks into a store and buys an inferior stone without researching.

So the best price is what you are comfortable spending

I love you Ascherisme!!!!! Yea, I feel like I''ll look a little, uh, looney if I tell exactly how many. Tee hee. Well, it has given me a lot of pleasure to upgrade over time. Ok, I''m a lot looney. I agree with not spending out of a logical comfort zone. All of these newlyweds will live a lllllloooooooong time--time enough to celebrate the years with new diamonds, different diamonds, settings. It''s all good. Take your time folks!!!

 

[diamondseeker2006]

Date: 2/2/2007 6:01:19 PM
Author:Carats
I know it obviously depends on your means, salary, etc but what are some average ranges that people spend. The reason I ask is wherever I go I always see these beautiful large (1.5 + ) stones and now that I have started to investigate the prices, I''m like ''wow, expensive''.

And how much discount (%) can people expect to receive if they are a good negotiator?

If you really want to make your life easier and know you are getting a good price simply choose an ideal cut diamond from a trusted and reliable vendor online such as Good Old Gold or WhiteFlash, and you won''t need to worry about negotiating on price or whether you are being taken. I came on here a year ago when my husband said I could get a new diamond for an anniversary. I did shop at several local jewelers. I never found a good selection of ideal cut stones anywhere to choose from, and the stones I did see with inferior cut were as high or higher than the diamonds I was seeing on the above vendors sites. So, to make a long story short, I eventually got my ring diamond from Good Old Gold and later got a pair of diamond earrings from WF. I am content knowing that I got the very highest quality diamonds at a fair price and there was no negotiating necessary since they don''t have the mark-up that regular jewelers have. Both of these vendors have lifetime trade-in policies as well, in the event you want to get her another diamond for a future anniversary or something.

I do think it is hard to estimate what people spend because income and debt vary extremely from person to person. However, I see a guideline such as 1-2 months salary very useful, although as someone already said, you have no obligation to go by it! My diamonds have fallen within this range both times. I could have spent more this time, but I got what I wanted for less than that.

I do think most guys are surprised at the price of diamonds when they first invesitgate it since they are very tiny objects! But most girls love them, so we think it is worth it!

 

[Lorelei]

Date: 2/2/2007 6:24:23 PM
Author: asscherisme
Several times Julia? Wink wink, maybe more than several times

But I agree with what Julia's point is, many of the rings you see are not the original rings. And I bet that a lot of those rings are not even real diamonds. CZs are marketed heavily these days.

I think the worst thing is to buy a ring that is mor ethan you are comforatble spending becuase of feeling the need to keep up.

I think the average diamond is less than a carat and around $3K. But I could be way off on that. I remember reading it somewhere.

What you see on here is not the norm. Its people super interested in diamonds or researching diamonds. The average person walks into a store and buys an inferior stone without researching.

So the best price is what you are comfortable spending

Welcome to PS

Ditto Asscherisme, most of us have a huge passion for diamonds and have researched and upgraded, so these large diamonds are the exception rather than the rule. Also for the 3 months salary saying - spend what you are comfortable with! It is good if you go with a vendor with an upgrade policy as that way you can go larger if you wish in the future. Whatever size or shape you get, concentrate on CUT as this is what makes a diamond beautiful, regardless of size! Generally speaking too you can get more for your money buying online, if you use a vendor such as Whiteflash, Good old Gold, James Allen, Wink Jones etc, they can make the process much easier with their expertise.

Also negotiating doesn't seem to be usual when buying online, these vendors operate on slimmer margins anyway, so you get a lower price in many cases than you might with a B&M.

 

[enbcfsobe]

Don''t go by what other people spend. Given the costs of life and weddings (not everyone is lucky enough to have mom and dad pay...), getting in over your head on what may be your first major purchase as a couple is a big mistake. Find out what she wants -- you may be surprised that some gals, especially with smaller hands and low-key tastes in jewelry, don''t want a huge rock. There''s certainly no point in going into debt for something that is overwhelming for her to wear! I would also try to get an idea of what she wants for a wedding band. I want just a plain band so that we can get matching ones -- that''s a sentimental thing, but it has the added benefit of meaning that there is slightly more to spend on an e-ring. If she wants a wedding band with diamonds or something more complex, I would think about adjusting the target price for the e-ring down a bit. I would also try to get a sense of whether she will want to upgrade. While that is a great option, I personally want to have the same ring forever, so I need to make sure I''m really comfortable with the size, setting, etc. Again, just a sentimental thing. If she''s game for change down the line, that can guide your decision now.
Personally, I think 3 months salary is ridiculous. Even though we both do very well, I don''t want my BF living off of me for 3 months!! Nor do I want him carrying a big balance on his credit card or not being able to pay his bills, since his credit rating and savings will have a serious impact on our ability to make other major purchases, like a house, that are way more important than a sparkly. I guess for someone who is already a homeowner, and has already started saving in earnest for both retirement and their childrens'' education, it is a different picture -- that''s why it is important to look at your financial situation, and not worry much about what other people are doing!
Plus, you are here on PS -- you are by definition going to end up with a more beautiful stone for her than most of her friends could dream of, no matter what size or setting! Good luck.

 

[Maisie]

Date: 2/3/2007 11:52:23 AM
Author: enbcfsobe
Don''t go by what other people spend. Given the costs of life and weddings (not everyone is lucky enough to have mom and dad pay...), getting in over your head on what may be your first major purchase as a couple is a big mistake. Find out what she wants -- you may be surprised that some gals, especially with smaller hands and low-key tastes in jewelry, don''t want a huge rock. There''s certainly no point in going into debt for something that is overwhelming for her to wear! I would also try to get an idea of what she wants for a wedding band. I want just a plain band so that we can get matching ones -- that''s a sentimental thing, but it has the added benefit of meaning that there is slightly more to spend on an e-ring. If she wants a wedding band with diamonds or something more complex, I would think about adjusting the target price for the e-ring down a bit. I would also try to get a sense of whether she will want to upgrade. While that is a great option, I personally want to have the same ring forever, so I need to make sure I''m really comfortable with the size, setting, etc. Again, just a sentimental thing. If she''s game for change down the line, that can guide your decision now.
Personally, I think 3 months salary is ridiculous. Even though we both do very well, I don''t want my BF living off of me for 3 months!! Nor do I want him carrying a big balance on his credit card or not being able to pay his bills, since his credit rating and savings will have a serious impact on our ability to make other major purchases, like a house, that are way more important than a sparkly. I guess for someone who is already a homeowner, and has already started saving in earnest for both retirement and their childrens'' education, it is a different picture -- that''s why it is important to look at your financial situation, and not worry much about what other people are doing!
Plus, you are here on PS -- you are by definition going to end up with a more beautiful stone for her than most of her friends could dream of, no matter what size or setting! Good luck.

absolutely true!!