HAVE YOU EVER WONDERED?
HOW MUCH TO SPEND ON YOUR ENGAGEMENT RING?
Buying an engagement ring is a big decision, and one that your significant other is going to wear on their finger forever. "How much should I spend on my engagement ring?" is a question often asked. So we thought we'd help you debunk the myths and give you our recommendations . With so many rules and expectations for buying an engagement ring, it can become confusing and overwhelming.
WHAT WAS THE AVERAGE SPEND FOR AN
ENGAGEMENT RING IN 2021?
In 2021, the average spend on an engagement ring was £1865, which is just under the average monthly salary in the UK. Customers are becoming bolder and more confident in their methods of buying an engagement ring. They are choosing to ignore the theory of "spend three months wages on an engagement ring", which was an idea created by De Beers in the 1930s during the Great Depression.
The marketing campaign was launched to increase the sale of diamond engagement rings, due to the struggling industry. However, nowadays this is an outdated rule of thumb, and the cost of an engagement ring should come down to the buyer's financial situation and personal taste.
SO, WHAT DOES THE
MODERN COUPLE DO?
These days, couples are taking more of a contemporary approach to buying an engagement ring. It’s become common for couples to arrive at an appointment and create their rings together, creating an intimate memory as a pair that holds as much value as their ring.
Some of our proposee’s are choosing the gemstone first, and then having their partner help create the setting. It’s all down to the couple, and their relationship. It’s 2022, we don’t need a diamond brand from the 1930’s telling us what to do!
WHY ARE COUPLES DECIDING ON
We love a mined diamond, however we only use ones that have ethical journeys and are ethically sourced, which has an effect on the budget. As a beautiful alternative to this we have lab-grown diamonds.
These are a sustainable, traceable and often more affordable option, therefore sparking an interest in couples wanting to invest in something beautiful yet affordable.
Another option for those seeking a more colourful alternative to the traditional white diamond is gemstones. Gemstones come in the form of Sapphires, Morganites, Tourmalines and many more. They sit just as beautiful, and shine through all their personality through their mesmerising facets and stunning colours.
If you’re still unsure of what to spend and need a little guidance, contact our sales and design team. They’re on hand to help you pick, design or modify the perfect ring for you and your partner whilst keeping to your set price range. View our options below.