Priciest Purchases: Home, Car, Engagement Ring
December 11, 24
(IDEX Online) - An engagement ring is the third most expensive item most couples own, after their home and car, according to a new survey.
The average value is $2,500 to $5,000, say insurers Jewelers Mutual, based on an online survey of over 1,500 US adults who have bought or received an engagement ring in the last five years.
Diamonds remain the most popular choice of stone by far. More than two thirds (68 per cent) of those surveyed said they'd bought a natural diamond, compared to 18 per cent who said they'd opted for lab growns. Rubies and emeralds were the most popular non-diamond choice.
The channel setting is the most popular (31 per cent) ahead of solitaire (22 per cent). The average size of diamond is "between 1 and 2 carats".
White gold is the most popular setting (35 per cent), slightly ahead of rose gold (33 per cent).
Forty-three per cent of those surveyed said they bought their ring from jewelry brand stores, 28 per cent from retail stores and 10 per cent from a local business.