Engagment Rings...how much to spend?

eyeball kid · 30-01-2007 05:02PM #1

Just wondering how much in general do people spend on engagement rings.
From what I've seen, it can vary from a few hundred € to ..well anything.
I'm not trying to get an exact figure that anybody has spent but is there a rule of thumb that people normally adhere to?
Just wondering...
Thanks.

Ruu_Old · 30-01-2007 05:06PM

I think I spent around 150 eurons(can't remember exact figure, could have been less) for wifeh. Whatever you can manage, don't be going into debt to buy one, sillyness.

kizzyr · 30-01-2007 06:41PM

eyeball kid wrote:

Just wondering how much in general do people spend on engagement rings.
From what I've seen, it can vary from a few hundred € to ..well anything.
I'm not trying to get an exact figure that anybody has spent but is there a rule of thumb that people normally adhere to?
Just wondering...
Thanks.

You should go with what you can afford and or what you think the woman who will be wearing it would be comfortable with. Some women melt at the thoughts of an uber expensive ring others don't feel happy to have several thousands Euro worth of diamonds on her finger.
I think the rule of thumb is a months wages or double a months wages, ultimately it shouldn't be an issue once you're not being a cheap skate;)
Do make sure you buy diamonds from a reputable jeweler though, not conflict stones.

dame · 30-01-2007 06:42PM

1,500 - 2,000 max. I wouldn't spend much more than that unless you're loaded and you want to. Like you said there's a huge range out there and nobody (bar a jeweller) really knows the difference as long as it's a nice ring. Also think how gutted your fiancée would be if she lost it. Whatever you do don't go getting out a loan to buy a ring; there are plenty more important things in life to be spending money on.

EDIT: Yep, I second Kizzyr's bit about not buying conflict diamonds!

Biro · 31-01-2007 09:24AM

I was in the same dilemma recently. I wouldn't limit yourself by other people's ideas really, thats the long and the short of it. You should know yourself what you're able to spend on it right now. Have a budget in mind and then have a max budget incase a particular ring that you like is over your current one. Sometimes an extra €500 can make a big difference in the ring and may be worth it.
I personally think it's worth while reading up on diamonds and the 4 C's and all that in order to have some info to use so that you're not sold a ring that is a good bit of money for a diamond thats worth nothing. You may aswell get what you definately will be paying for, whatever you spend. Like the clarity of a diamond will really only add to its value because inclusions are only really visible with a microscope, where as colour and cut will add more to the visual sparkle of the stone. Weigh it all up according to your budget and price around so you'll know what your money will buy you.
Finally make sure to push on the price of it, cause the mark up on rings is significant!! Pm if you want to know anything.

eyeball kid · 31-01-2007 10:17AM

Thanks for the replies.
Actually saw Blood Diamond last night. It would make you think about where the diamonds come from.

Fey! · 31-01-2007 01:32PM

Biro wrote:

I was in the same dilemma recently. I wouldn't limit yourself by other people's ideas really, thats the long and the short of it. You should know yourself what you're able to spend on it right now. Have a budget in mind and then have a max budget incase a particular ring that you like is over your current one. Sometimes an extra €500 can make a big difference in the ring and may be worth it.
I personally think it's worth while reading up on diamonds and the 4 C's and all that in order to have some info to use so that you're not sold a ring that is a good bit of money for a diamond thats worth nothing. You may aswell get what you definately will be paying for, whatever you spend. Like the clarity of a diamond will really only add to its value because inclusions are only really visible with a microscope, where as colour and cut will add more to the visual sparkle of the stone. Weigh it all up according to your budget and price around so you'll know what your money will buy you.
Finally make sure to push on the price of it, cause the mark up on rings is significant!! Pm if you want to know anything.

A couple of things here.

Firstly, your reference to inclusions; these marks can and will stop light travelling through the stone, which can effect the brilliance of the stone.

Secondly, the "mark-up" varies froim shop to shop. Bear in mind that if a shop advertises 20% off, then it has that extra 20% on there to start with; in other words, shop around and don't get confused by a discount sign (a shop not giving discounts may already be selling at the same price as the "discounted" price in another shop).

As for the conflict diamond comments here, maybe a few of you should read up on the World Diamond Council - www.diamondfacts.org. You have to remember that Hollywood will sensationalise everything.

Fey! · 31-01-2007 01:34PM

Double Post - Sorry.

r3nu4l · 31-01-2007 01:47PM

As everyone has said, it's what you can afford at the time but do think ahead. Only last night my other half and I were discussing the 'wisdom' of me having spent several thousand euro on her ring as now that the wedding is coming up we fully appreciate how much that money could do for us now.

That said, I have no real regrets. One piece of advice for you...haggle, haggle, haggle! It would have cost me a lot more if I'd gone for the original quoted price. Instead I got the equivalent of €750 off mine through pretending to have seen another ring that I also liked in a store down the road... I know for a fact that the store still made a nice, tidy profit on the ring I bought! The store still wins but I feel like I've won something too

Biro · 31-01-2007 06:12PM

Fey! wrote:

A couple of things here.

Firstly, your reference to inclusions; these marks can and will stop light travelling through the stone, which can effect the brilliance of the stone.

Secondly, the "mark-up" varies froim shop to shop. Bear in mind that if a shop advertises 20% off, then it has that extra 20% on there to start with; in other words, shop around and don't get confused by a discount sign (a shop not giving discounts may already be selling at the same price as the "discounted" price in another shop).

True, sorry... I should have been more clear. What I kind of meant was that if your budget meant that you were sacrifising something in the diamond (which for a lot of people it does!) then just be careful as to what you settle for and what you push for... like maybe a colour E and VS1 might look better than a colour G and VVS1 (given the same cut and carat) yet be worth the same value, if ya know what I mean. Maybe I'm off the wall with that example.
Re the mark-up, I was just suggesting to haggle! Not suggesting that all jewlers are rip-off merchants! It's like a car.. they'll charge you the list price if you don't ask for anything off!

Fey! · 31-01-2007 06:34PM

Sorry - I wasn't saying not to haggle; I was saying that some shops have a better margin to haggle with than others!

And your e-vs versus g-vvs is a good example; I was refering more to SI2 and lower stones where the clarity can make a bigger difference to the appearance.

Sorry if I came across as head biting; long day at the office!!! Listening to a lot of the "conflict diamond" stuff at the moment (ain't Hollywood great?). Looking for an article in a recent trade publication about the film "Blood Diamond" at the moment which weighs the fact of life against the drama of Hollywood.

daiixi · 04-02-2007 01:41PM

We've been having this conversation at work lately after the engagement of one of the girls. Most of the girls think that the ring should cost as much as you can afford because "It's the only one I'm going to get" and "He should spend as much as he can afford to show me that I'm special". In fact some of the girls are saying that the going rate is three months salary.
Now I think those arguments are completely ridiculous (as is a set amount!!) and the fact that my fiance had proposed would be enough proof that he loved me and I'd rather have more money to spend on an amazing holiday or house etc.
I know I'd want a fab ring that I loved. The price wouldn't matter.

Kinetic^ · 09-02-2007 11:07PM

daiixi wrote:

In fact some of the girls are saying that the going rate is three months salary.

:eek: Are ya frigging real or what!!!!!!!

dame · 09-02-2007 11:31PM

I know of two women who got a new engagement ring later on. The husband of one got it for her for their 25th wedding anniversary (a nice idea

) and one got herself a new one at around 30 years married (I think). Both love their new rings but still prefer to wear their original one, even if it wasn't the most expensive and is a bit out of fashion now (the reason the second one got her new ring :rolleyes: ).

Saruman · 09-02-2007 11:38PM

Spent about the €750 mark here.

rediguana · 09-02-2007 11:43PM

My GF says E20K. It shows the disturbing extent of her divorce from reality as I'm a Masters student with a series of minuses in front of everything I own in the world.

Saruman · 09-02-2007 11:46PM

what? If she was serious i would dump her straight away. I do not care how much you love someone. If thats her expectation for a ring, imagine what she expects for the wedding.
My wife was perfectly happy with the ring, we picked it together. We got married for feck all in Vegas. Most of my small family was there and 23 of her large family. Wedding took a few mins to arrange online and by phone then flew over and had the time of our lives.
Cheap, happy, warm, fun etc. Better than any stuffy Irish wedding.

Willymuncher · 09-02-2007 11:49PM

I spent $1000, they actually misquoted me the price, it was supposed to have been $1600 but they ended up selling it for $1000 since that is what I was told, I was lucky

. It just took a tiny bit of fuss to convince them.

I wouldn't spend too much, that money can go towards something far more important, like the actual wedding.

dame · 10-02-2007 12:55AM

We picked my ring together. I tried it on and loved it but moved off looking at more, 200 instantly came off the price. It was in a very prominent jewellers on Grafton Street, not a place that looked like they'd be haggling!

To th guy with the 20k ring girlfriend; WTF?? Excuse the language but you seriously need to think about your life ahead.......what sort of house, cars, holidays, clothes is she going to be expecting. A high maintenance girl like that could run you into serious debt very easily. I'm guessing she's supported by Daddy and has never really had to work for anything. I'd let her grow up a bit before you consider actually proposing and marrying her!

Kinetic^ · 10-02-2007 08:58PM

rediguana wrote:

My GF says E20K.

Is she dillussional? Seriously, 20k, that'd be a whole wedding ffs!!!:eek:

forbairt · 10-02-2007 09:23PM

20K ?? EEK!!! many things spring to mind ... I shouldn't write any of them down though

I went a good bit over my original budget and I'm actually glad I did as she loves it. She did tell me though she'd be happy with a number 11 (or something for 30quid) from the argos catalog though (had a look through that to get ideas)

Spend what you're comfortable with I think ... we also picked it out together and found one we both really liked hence I said **** it and went overbudget

I personally think its a lot of BS saying 1 month -> 3 months wages that sounds more like keeping up with the jones's (apologies to the jones's)

daiixi · 10-02-2007 09:52PM

Honestly I know plenty of girls who would laugh in their boyfriend's face if he proposed with a ring that cost less than €10k.

Yes, saying that a ring should cost €20k or three months wages etc is crazy but there's a lot of materialistic bitches out there.

./edit: I'm just glad that my cousin is a jeweller!

Ruu_Old · 10-02-2007 09:53PM

Yeesh, don't I look cheap.

daiixi · 10-02-2007 09:58PM

Ruu wrote:

Yeesh, don't I look cheap.

Or you hooked yourself a keeper

Ruu_Old · 10-02-2007 10:02PM

Hurrah, more money for Ruu to spend*.

*on himself

Lothaar · 12-02-2007 02:35PM

Spent £110 (punts) a few years back. We were both students at the time and I had to borrow to get it. It was more than I could afford really.

A few years later she told me she doesn't really like it and she wanted a new one.

Fvckin hell - there was a lot of sentimental value in the ring I got her. I was shocked that she didn't see it that way.

Biro · 12-02-2007 02:52PM

If €20k was 3 months of my salary, I'd be well happy!
I think the general concensus is to spend what you can afford.

hunnymonster · 12-02-2007 06:33PM

Does anyone know of any women that have contributed to the cost of their ring. After all, it's the woman (in hetrosexual couple) who will wear the ring. I've always felt that if I want something I should get off my bum and work for it, why not an engagement ring if I want some ridiculously priced piece of sparkly carbon on my finger?

iguana · 12-02-2007 07:24PM

I decided not to get an engagement ring. Instead we used the money to buy me an iBook and my husband an iPod as engagement presents to each other. I wonder if Steve Jobs knew this story would he give us some free vouchers or something?;)

Oh and we used the money from our joint account. We've had joint finances since we moved in together, so there is no way "he" would have been buying the ring for me. It would have been bought with both our money, I guess that is why it seemed wrong for me to get a present and not him.

lil'one · 12-02-2007 07:40PM

wow there's some serious money being thrown around here, look i've heard the three month salary rule of thumb thing too, thought it was more of an american tradition, dunno really. my suggestion would be to go to an antique jewellers and buy something beautifull and unique, and I think anything over a grand is a little extreme unless you are loaded in which case more power to ya:D

Fey! · 15-02-2007 12:01AM

Spend what you can afford to spend; there's no point getting into debt for jewellery. If you can afford bigger down the road, then you can get bigger down the road.

As for the €20k ring; there are a LOT of women out there who expect that. However, most of the rings I'd sell for engagement would range between €1,500 and €8,000, even though we also carry higher level stock.

Hunnymonster; I know several women who've contributed to their own ring. In fact, I've had a few who pay a deposit themselves, then get us to mark down the price on the tag so that when the boyfriend comes in it looks cheaper!!!

Lil'one; I totally agree with you about buying in ANTIQUE SHOPS!!! (vested interest spotted, anyone???)

Engagment Rings...how much to spend?

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