Men cut back on cost of the ring

[centralsquare]

Interesting article indicating that men are spending less money on engagement rings, presumably due to the economy: http://www.dailymail.co.uk/femail/a...-rings-feel-pinch-men-cut-cost-proposing.html.

Just one data point, but it's interesting. If this is the case, it's just compounded by the fact that diamond prices are going up, up, up..

 

[wakingdreams53]

I predict a smaller average diamond size and/or more people leaning towards colored center stones.

 

[Gypsy]

I predict a smaller average diamond size and/or more people leaning towards colored center stones.

Me too. I've already seen it. The "one carat" mark is getting harder and harder to hit.

 

[jewelerman]

who remembers the diamond bubble of 1979-80 when a 1 carat ideally cut,D-flawless was running $64,000 a carat on paper and then the gem investment market finally bottomed out and brought the cost down to about $13,500 per carat.A lot of people really lost their shirts on those investment diamond groups. Every once in a while i see a sealed diamond that has a crazy appraisal per carat value attached.

 

[centralsquare]

and then the gem investment market finally bottomed out and brought the cost down

How do we make that happen again????

 

[MissStepcut]

The question is, were men ever paying more than 3 weeks salary?

 

[centralsquare]

The question is, were men ever paying more than 3 weeks salary?

The article indicated that the average amount spent is going down, so I assume they spent more previously. If I recall, the numbers in the article indicated a substantial decrease.

 

[Circe]

I wonder how much of it is a psychological reflection of the recent increases as opposed to a corollary to the men's specific economic circumstances.

I mean, if I were getting engaged now? I'd much rather focus on the symbolic aspect, and wait for a moment when I felt I wasn't getting shivved to upgrade. Heck, I am thinking that for the anniversary ring I've been looking forward to for years! Like, get X carats now for 5 years ... or see what things look like for 10 years (or at any point in the interim, should a bargain come along). Wonder what the corresponding American figures would be ....

 

[AmeliaG]

It may be rising diamond prices but it may just be that everything is going up now. I'm seeing a lot of cutbacks in a lot of areas and getting married can be expensive.

 

[Amys Bling]

Ver interesting. We bought at way more than hubby's three week salary average last year. I actually think that since Hubby did way better this past year at his job post ring purchase he may have been inclined to spend more this year than last-BUT he may not have actually gotten any more for that money with the darn rise in prices!! Boo. I do think that Intile economy it is smart to not over buy when it comes to a ring. Use cash and if you plan on upgrading when there is more cashflow and economy and prices are steady go with a vendor with a good upgrade policy.

Interesting article though. Makes sense to me.

 

[AprilBaby]

My gf in the bling business says she used to sell a lot of 2 ct but now just under 1ct to 1ct is selling more.

 

[MissStepcut]

The question is, were men ever paying more than 3 weeks salary?

The article indicated that the average amount spent is going down, so I assume they spent more previously. If I recall, the numbers in the article indicated a substantial decrease.

While the article did imply that, I don't think that's what it actually said.

 

[Amys Bling]

The question is, were men ever paying more than 3 weeks salary?

The article indicated that the average amount spent is going down, so I assume they spent more previously. If I recall, the numbers in the article indicated a substantial decrease.

While the article did imply that, I don't think that's what it actually said.

Could it be that in this economy the average persons three week salary is less than it used to be on average??

 

[Skippy123]

who remembers the diamond bubble of 1979-80 when a 1 carat ideally cut,D-flawless was running $64,000 a carat on paper and then the gem investment market finally bottomed out and brought the cost down to about $13,500 per carat.A lot of people really lost their shirts on those investment diamond groups. Every once in a while i see a sealed diamond that has a crazy appraisal per carat value attached.

That is what I am thinking is going on (not the same scenario)!!! I think it will change; not right away but I do think things will go back down over the next 10 years.

 

[MissStepcut]

The question is, were men ever paying more than 3 weeks salary?

The article indicated that the average amount spent is going down, so I assume they spent more previously. If I recall, the numbers in the article indicated a substantial decrease.

While the article did imply that, I don't think that's what it actually said.

Could it be that in this economy the average persons three week salary is less than it used to be on average??

I am pretty sure the article just uses the "3 months' salary" assumption as a point of comparison, but doesn't claim that was ever actually the norm.

 

[karpouzi]

While the article did imply that, I don't think that's what it actually said.

I agree. The article is really just a fluff piece; it contains no comparative research and almost all of its statements are hedged.

Check out this sentence. Vague/hedge words in color: "Traditionally, a ring has tended to cost around up to three months’ salary – but now many grooms-to-be are devoting only three weeks’ income to the crucial purchase."

 

[centralsquare]

The question is, were men ever paying more than 3 weeks salary?

The article indicated that the average amount spent is going down, so I assume they spent more previously. If I recall, the numbers in the article indicated a substantial decrease.

While the article did imply that, I don't think that's what it actually said.

This comment made me think that there was some data to support the position that men are spending less: "So while men in the past might have spent up to £5,000, that figure has fallen to just £1,230"