How Much Did You Spend on Your Engagement Ring??

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How Much Did You Spend on Your Engagement Ring??

Postby LFKB » Tue May 07, 2013 1:29 pm

I'm in the buying process and curious to see what is reasonable. Feel free to express as a percentage of income at the time you purchased, the absolute dollar amount or both. Whatever you are comfortable with.

Both of us earn a very good salary so if I applied the 1/3 of yearly salary "rule" (which seems to high anyways) I would be buying an astronomically priced ring. What is a reasonable amount for a high income earner?
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Kosmo » Tue May 07, 2013 1:33 pm

$250.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby otbricki » Tue May 07, 2013 1:42 pm

$0. My wife thinks engagement rings are a heteronormative paternalistic anachronism.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby hicabob » Tue May 07, 2013 1:44 pm

otbricki wrote:$0. My wife thinks engagement rings are a heteronormative paternalistic anachronism.


You have to admire the business savvy of De Beers for starting the tradition though!
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Re: How Much Did You Spend on Your Engagement Ring??

Postby G-Money » Tue May 07, 2013 1:45 pm

otbricki wrote:$0. My wife thinks engagement rings are a heteronormative paternalistic anachronism.

I spent quite a bit more than that. It continues to make my wife very happy. :D

[Sorry, I can't say how much, because my wife occasionally reads the forum and she knows my handle.]
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Re: How Much Did You Spend on Your Engagement Ring??

Postby momar » Tue May 07, 2013 1:47 pm

5k is reasonable for a good earner. You can get a good quality 1ct diamond for that. I agree that 3 months salary is outrageous.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby TomatoTomahto » Tue May 07, 2013 1:48 pm

$0. I find the 1/3 of yearly salary "rule" comical; it's the old "don't ask a barber if you need a haircut" joke cubed. Would I allow the automobile manufacturers to tell me the rule about how much car I need?

I don't see any point in engagement rings, but if it floats your boat, get something you like at whatever that costs.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby G-Money » Tue May 07, 2013 1:51 pm

LFKB wrote:I'm in the buying process and curious to see what is reasonable. Feel free to express as a percentage of income at the time you purchased, the absolute dollar amount or both. Whatever you are comfortable with.

Both of us earn a very good salary so if I applied the 1/3 of yearly salary "rule" (which seems to high anyways) I would be buying an astronomically priced ring. What is a reasonable amount for a high income earner?

I hadn't heard of the 1/3 yearly salary rule of thumb. I was under the impression the rule of thumb was 2 months' salary, and that was calculated based upon the salary of the person buying the ring, not joint salary. But that was quite some time ago, and all of these rules of thumb were invented by the diamond sellers anyway, so it doesn't make much difference.

I think getting a 1 ct diamond with good cut, color, and clarity is more than sufficient for most purposes. But if you and your betrothed hang in ritzier circles where a 1 ct diamond will make her feel uncomfortably cheap, then consider getting something bigger.
Last edited by G-Money on Tue May 07, 2013 1:53 pm, edited 1 time in total.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Snow Boarder » Tue May 07, 2013 1:52 pm

If you are tight on cash, $2,000 will get you some thing very nice. Don't fall for some cookie cut 2 months salary or particular minimum carrot size etc. 1/3 of anyones annual salary is insane... I spent $3,800 on my wifes and think I spent way to much. I got caught up in the 5C's hype (cut, clarity carrot and I don't even remember the last 2).

Moral of the story is don't cheap out on your wife but if you 'go big' do it because you can afford it and YOU want to.

CORRECTION: My wife is worth way more then the $3,800. I just remember being nudged to spend more and I did not like that.
Last edited by Snow Boarder on Wed May 08, 2013 8:08 pm, edited 1 time in total.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby otbricki » Tue May 07, 2013 1:53 pm

G-Money wrote:
otbricki wrote:$0. My wife thinks engagement rings are a heteronormative paternalistic anachronism.

I spent quite a bit more than that. It continues to make my wife very happy. :D


Well, I'm still married 39 years later so I guess the answer is to find out what your wife wants rather than asking an online forum.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Chan_va » Tue May 07, 2013 1:53 pm

If you do decide to get a diamond - go for quality over size and make sure its GIA certified. That will at least maximize resale value.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby VictoriaF » Tue May 07, 2013 1:54 pm

TomatoTomahto wrote:I find the 1/3 of yearly salary "rule" comical; it's the old "don't ask a barber if you need a haircut" joke cubed.

Why cubed? With the rings it applies all around.

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Re: How Much Did You Spend on Your Engagement Ring??

Postby TomatoTomahto » Tue May 07, 2013 1:57 pm

PS We were high earners then also. FWIW, we didn't do an engagement ring and spent less than a day's pay on wedding bands. We've been very happy for close to 20 years.

Sort of funny story about engagement rings. My first wife wanted an engagement ring. On a vacation, I got her an engagement ring from a quaint little shop in the English countryside; nice ring but a modest diamond. I told her that if she wanted a larger diamond, I'd get one for her. She said that no, it was special because she'd remember the romantic day that we purchased it, yada yada yada. Years pass, we're getting separated and planning divorce, and she buys a ring. My reaction was "what the )(#$ are you doing getting an expensive diamond ring at this point?" She said, you promised that I could get a more expensive ring if I ever wanted to. True story, I couldn't have made it up. My (current) wife and I are more compatible.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby TomatoTomahto » Tue May 07, 2013 1:57 pm

VictoriaF wrote:
TomatoTomahto wrote:I find the 1/3 of yearly salary "rule" comical; it's the old "don't ask a barber if you need a haircut" joke cubed.

Why cubed? With the rings it applies all around.

Victoria


I was actually thinking of a cubic zirconia joke, but deleted it.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby nodenuff2 » Tue May 07, 2013 2:03 pm

In my humble opinion (humble because i've only bought one) an engagement ring represents the committment you have made to her. Buy a high quality stone and have it mounted. Get some professional help. A dealer in diamonds will try to steer you to a good investment others maybe not so much as making a sale today. In 1969 I spent 1,000. on a stone but what a deal it turned out to be . What is that in todays dollars I don't know but the 43 years of marriage are what made it important and valuable. Good luck in your marriage!
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Tom_T » Tue May 07, 2013 2:04 pm

The pressure to spend money on anything wedding-related is pure marketing genius. Most people would be quite happy with the looks of a cubic zirconium ring -- but the social stigma would be unbearable. :)

Diamonds are horrible investments. Forget about that aspect of it.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby LFKB » Tue May 07, 2013 2:05 pm

Sorry I meant 3 months, not 1/3 of a year. I like the 2 months rules better, even so, that would put me at a ring in excess of $45,000. Which is too much.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby jaj2276 » Tue May 07, 2013 2:09 pm

Answering the actual question, having just bought one recently:

$7k (1 ct, platinum band, diamonds on the band, at Costco, came with an appraisal saying $14k)
~3% of yearly gross salary (mine, not hers).

So get what you can comfortably afford but don't go overboard.

I hadn't heard the 1/3 annual salary. That's an absolute absurd rule of thumb. I couldn't even imagine the size of the ring (nor would I want my wife to be out and about with that thing on). Even at 2 months salary (so 1/6 annual salary), I still wouldn't want her wearing that out. 1/33 annual salary seems fine to me.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby TomatoTomahto » Tue May 07, 2013 2:11 pm

Tom_T wrote:The pressure to spend money on anything wedding-related is pure marketing genius. Most people would be quite happy with the looks of a cubic zirconium ring -- but the social stigma would be unbearable. :)

Diamonds are horrible investments. Forget about that aspect of it.


To be honest, I'm surprised at the favorable view of engagement rings here, the home of the 20-year old automobile. But, that's what makes horse races, and I'm happy that so many marriages are doing well.

I promised each of my 4 children that I would give them an investment equal to two times what I would have spent on their wedding if they just go to town hall to get married and have a few beers with friends afterwards. A pre-nuptial is mandatory; this way, they can blame the old man and not have to deal with any awkwardness with the significant other. Maybe I'll add a clause to that to include a bonus for skipping an engagement rink.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby woodguy00 » Tue May 07, 2013 2:11 pm

I bought my wife the ring she wanted.. for about $700, 27 years ago. That would have been about a half month salary for me then. Through the years I've offered frequently to buy a much larger one. She keeps telling me she has the one she wants. I think I'll keep her!
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Re: How Much Did You Spend on Your Engagement Ring??

Postby bottomfisher » Tue May 07, 2013 2:13 pm

$14,500'ish. And my wife actually lost the ring once (outisde of our home). It was found...but I was ready to lose her.

The pressure to spend money on anything wedding-related is pure marketing genius. Most people would be quite happy with the looks of a cubic zirconium ring -- but the social stigma would be unbearable.


I agree
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Re: How Much Did You Spend on Your Engagement Ring??

Postby LFKB » Tue May 07, 2013 2:16 pm

Tom_T wrote:The pressure to spend money on anything wedding-related is pure marketing genius. Most people would be quite happy with the looks of a cubic zirconium ring -- but the social stigma would be unbearable. :)

Diamonds are horrible investments. Forget about that aspect of it.


I agree but I am trying to balance 1) her expectations 2) that most of her friends have very nice rings despite making less 3) that I can afford something very nice and she knows that and 4) not wanting to overspend on something that is really symbolic and should mean a lot regardless of size. Her mom has a very small ring and they are quite wealthy now and retired. She was always happy with it and refused to get a bigger stone even though she easily had the means to.

Anyways, I have a range of what I am willing to spend and will feel out where I land in the range as I go through the process.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby ChampCamp » Tue May 07, 2013 2:19 pm

I am recently engaged and bought the ring and stone separate. Together, the cost was roughly ~10K. She is still in school and I earn ~150K gross.

I looked up the "minimums" online for the cut, color, and clarity, picked out the ring with her, and bought a 1.10-1.20 stone that would fit the ring.

She loves it - and that's really all that matters.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby bluelight » Tue May 07, 2013 2:21 pm

I became engaged in Feb. My fiance wanted me to be involved in the process of selecting the diamond and ring because I would be the one wearing it and looking at it everyday. He also didn't give me a price range, just to get what I wanted. He knows I'm frugal.

I decided that 5K was the max I would feel comfortable wearing. I searched the Boglehead forums and found out about pricescope.com, Blue Nile and White Flash. We decided that cut and clarity were the most important attributes to us and color and carat, not so much. I ended up with a beautiful pave diamond ring (with a matching band which I will receive in Oct) and a .635 ct AGS000 ideal cut diamond.

Don't get hung up on silly rules of thumb or marketing hype. Take a close look at the type/size of jewelry your girlfriend wears and if possible include her in the process.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby G-Money » Tue May 07, 2013 2:21 pm

LFKB wrote:Sorry I meant 3 months, not 1/3 of a year. I like the 2 months rules better, even so, that would put me at a ring in excess of $45,000. Which is too much.

Sounds like you have at least *some* idea of what you actually want to spend. Whether it's $1,000, $10,000, or $30,000, spend what you think is appropriate on the ring. Asking how much to spend from a bunch of tightwads on the internet who don't know anything about you and your wife (other than your reported income) probably won't yield particularly useful results.

Good luck on the proposal!
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Re: How Much Did You Spend on Your Engagement Ring??

Postby tyrion » Tue May 07, 2013 2:22 pm

I think it was about $300. Non-diamond. We did spend another $300 or so dollars on a custom wedding band which included some small diamonds from her grandmothers ring.

Your marriage should be unique, might as well strive for a unique ring. Go look at some custom stuff that local artists can do. That's my advice. Then there's no need to compare diamonds with coworkers and acquaintances. And you get an interesting story to tell. But if you want to be mainstream about it, well.... it's your money to use as you like :sharebeer
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Re: How Much Did You Spend on Your Engagement Ring??

Postby leod » Tue May 07, 2013 2:31 pm

never gave one initially as I convinced her that it was a waste of money, but i bought one years later for $500 to justify my 5K watch purchase.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby MnD » Tue May 07, 2013 2:36 pm

I don't think we actually bought one. Our wedding rings were $170 for her, $95 for mine. I don't recall if we used hers as an engagement ring before the wedding or not. Our budget for the entire wedding, reception and honeymoon was about our entire net worth at the time ~$2000 so big ring purchases were not in the cards.

A few years ago we picked out a ~$2700 ring at Costco for an upgrade the day before our 25th anniversary on sort of a whim. We were just looking and the case had a ring she was thrilled with that fit perfectly. It has a quite detailed botanical design in the gold band (she loves gardening) and has a very nice diamond. I suppose I should do something about the $95 gold band I'm still wearing. Maybe start looking at the Costco ring case now that our 30th anniversary is approaching. :happy
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Re: How Much Did You Spend on Your Engagement Ring??

Postby LFKB » Tue May 07, 2013 2:38 pm

G-Money wrote:
LFKB wrote:Sorry I meant 3 months, not 1/3 of a year. I like the 2 months rules better, even so, that would put me at a ring in excess of $45,000. Which is too much.

Sounds like you have at least *some* idea of what you actually want to spend. Whether it's $1,000, $10,000, or $30,000, spend what you think is appropriate on the ring. Asking how much to spend from a bunch of tightwads on the internet who don't know anything about you and your wife (other than your reported income) probably won't yield particularly useful results.

Good luck on the proposal!


Thanks and agreed. There are so many varying opinions here and this is probably something I can only really answer myself.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby tyrion » Tue May 07, 2013 2:43 pm

LFKB wrote:
There are so many varying opinions here and this is probably something I can only really answer myself.


Very true. I think your biggest takeaway from here is to ignore the 'industry standard' of 3 months pay.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Rodc » Tue May 07, 2013 2:44 pm

I have a friend whose boy friend suggested the 2 or 3 month thing some years ago, would have been $10k at the time. She said she did not want a ring so valuable that someone would be tempted to cut her finger off to steal it. Now there is a good rule of thumb (or finger).

I bought a very nice sapphire with side diamonds ring for what today might be $2500 (not sure of ring inflation). Going on 20 years later it is still a beautiful ring.

Someone suggested above to talk to her, not us, which is spot on advice.

FWIW: the 3 months of salary rule is pure nonsensical marketing. Base it on what you can reasonably afford and what looks nice to you both. And remember it is the thought and the marriage that counts (not the ring or some hugely over cost wedding party).
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Re: How Much Did You Spend on Your Engagement Ring??

Postby fcox85 » Tue May 07, 2013 2:45 pm

I spent right at $4,500, but I actually got lucky. My wife already had a fairly large stone and some side stones from her grandmother's ring. Most of my cost was getting a custom-made platinum setting from a local jeweler, and incorporating smaller diamonds in the band and halo. The appraisal on the finished ring is about $18k. I think my price was partially a victim of metal prices at the time which seemed quite high at the end of 2011, if I recall correctly.

Admittedly, I didn't shop around for a deal as I was getting a custom made product "from scratch," and wanted a reputable local jeweler to ensure it was done right. The upshot is that my wife gets to wear a diamond ring that I couldn't have otherwise afforded for another 25 years, and it will be a family heirloom for generations to come. It is an absolutely beautiful piece, and the jeweler is so proud of it that every time she's been in the store since he made it he comes out from the back of the store to see his work. So, I consider it a relatively small price to pay for my wife's happiness. She would have been happy with a $500 ring if that was all I could have afforded, but she deserves it.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby JupiterJones » Tue May 07, 2013 2:46 pm

1/3 of a year's salary is absurd. I think I spent about half-a-month's.

But then I spent almost the same on the wedding band itself, so there's that to add into the mix...

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Re: How Much Did You Spend on Your Engagement Ring??

Postby prudent » Tue May 07, 2013 2:47 pm

When the time came, my wife-to-be asked if we would be able to buy a home sooner if we skipped the engagement ring. So she decided to skip the ring. Thirty years later and she's never asked for one, or any other jewelry for that matter. It's just not her style.

But the number-one criterion has to be what she wants, no matter what the "two months' salary" hype says. (And when did it become THREE months?) I honestly believe DeBeers pulled off the greatest marketing feat in the history of the world by getting people to believe not only that a diamond ring is essential, but that if you don't spend two months' salary on it then you are a troglodyte. It was only 70 years ago that the whole effort began. I bet most people think brides-to-be have been getting diamond engagement rings since the Dark Ages.

Tom_T wrote:The pressure to spend money on anything wedding-related is pure marketing genius. Most people would be quite happy with the looks of a cubic zirconium ring -- but the social stigma would be unbearable. :)

Diamonds are horrible investments. Forget about that aspect of it.


There is no social stigma attached to a CZ stone... if you are the only one who knows it's CZ. :twisted:


And agreed, the only people I know that tout diamonds as an investment are people who never tried to resell one that they bought.

An interesting thing I learned a few years ago is that many people unknowingly pay too much to insure a diamond. In most cases, if an insured diamond needs to be replaced under an insurance policy, the insurer obtains a replacement of like kind and quality rather than issuing a check - and because they aren't buying retail, they can get them for about half of what the insured value is. And with the insured value being based on an appraisal, what does that say about the accuracy of appraisals?
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Re: How Much Did You Spend on Your Engagement Ring??

Postby MathWizard » Tue May 07, 2013 2:52 pm

$300 for 1/4 carat engagement ring and two bands, and I had to finance that. I was poor and
in grad school at the time. Spent about the same on the honeymoon.

Her parents were in the middle of the farm crisis, so her folks, she and I split the wedding costs, she
worked a second job to pay for her part.

10 years later we were still in debt from college (which we paid for on our own).

20 years later I bought her a band with 20 small sparkling stones.

30 year later I took her to Paris.

I don't think I could swap her ring out for anything, it represents our beginnings, and struggles,
and how far we have come.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby nisiprius » Tue May 07, 2013 2:53 pm

$35 on a stipend of $300/month in late 1960s. Hematite. It was right for us. "It's the thought that counts."
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby interplanetjanet » Tue May 07, 2013 2:58 pm

otbricki wrote:$0. My wife thinks engagement rings are a heteronormative paternalistic anachronism.

Same (almost the same wording!).

Our actual wedding bands were both identical, plain white gold. Ostentatious wasn't really our style.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby stoptothink » Tue May 07, 2013 3:01 pm

Really really, sore point for me. I paid $3500, I was 24 and a graduate student. While I did have money, it was up to that point in my life the single most expensive thing I had ever purchased. I decided to save on the ring and to pay off her undergrad loans then for her dental school instead. Throughout our marriage (divorced after 4yrs), I received consistent comments from her sisters and even a few from the brothers-in-law about how cheap I was because of the ring. They all had rings which were well into the 5-figures, and in a few of the cases more valuable than their entire net worth as a couple.

I found that the statement "engagement rings are jewelry a man wears on his fiance's finger" was very true. Guys care just as much (if not more) about the size of the diamond they put on the finger of their fiance as the girls did.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby HardKnocker » Tue May 07, 2013 3:07 pm

$950 many years ago which was a very good quality stone in a custom setting and also include a matching wedding band that fits it. This is what I could afford then.

All my friends spent thousands on their wives rings. Big ostentatious rocks.

They all got divorced since and I'm still married. :wink:
Last edited by HardKnocker on Wed May 08, 2013 7:46 am, edited 5 times in total.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby prudent » Tue May 07, 2013 3:07 pm

stoptothink wrote:Really really, sore point for me. I paid $3500, I was 24 and a graduate student. While I did have money, it was up to that point in my life the single most expensive thing I had ever purchased. I decided to save on the ring and to pay off her undergrad loans then for her dental school instead. Throughout our marriage (divorced after 4yrs), I received consistent comments from her sisters and even a few from the brothers-in-law about how cheap I was because of the ring. They all had rings which were well into the 5-figures, and in a few of the cases more valuable than their entire net worth as a couple.

I found that the statement "engagement rings are jewelry a man wears on his fiance's finger" was very true. Guys care just as much (if not more) about the size of the diamond they put on the finger of their fiance as the girls did.


I find this interesting. No one in either of our families, nor any of our friends, ever commented about my wife not having an engagement ring. I wonder if they were envious that you didn't spend like they did (or spend like they felt they had to for status reasons).
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Re: How Much Did You Spend on Your Engagement Ring??

Postby iceman » Tue May 07, 2013 3:08 pm

bluelight wrote:I decided that 5K was the max I would feel comfortable wearing. I searched the Boglehead forums and found out about pricescope.com, Blue Nile and White Flash. We decided that cut and clarity were the most important attributes to us and color and carat, not so much. I ended up with a beautiful pave diamond ring (with a matching band which I will receive in Oct) and a .635 ct AGS000 ideal cut diamond.


I agree with everyone that price & size are dependent on your situation and the OP should not give too much consideration to what we post here. But I wanted to also point out that bluelight is right about not getting sucked into all the 4 'C's - for color and clarity, at a certain level any imperfections are not visible via naked eye. There's no need for super high ratings on those. Cut on the other hand does make a big difference; assuming you do a round diamond cut, an ideal cut (or a step or two below) really does make a difference in how the diamond reflects light. Better to have a smaller, ideal cut diamond over the biggest caret size you can afford, IMO. I'm with everyone who said that it's not worth it, marketing and supply control make them abhorrently priced, etc. That said, if you know that, and are still going to spend the money you might as well get one that truly sparkles.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby 6miths » Tue May 07, 2013 3:13 pm

otbricki wrote:$0. My wife thinks engagement rings are a heteronormative paternalistic anachronism.


What he said! Or close enough to it to result in the same total expenditure! :happy
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Re: How Much Did You Spend on Your Engagement Ring??

Postby HardKnocker » Tue May 07, 2013 3:15 pm

LFKB wrote:Both of us earn a very good salary so if I applied the 1/3 of yearly salary "rule" (which seems to high anyways) I would be buying an astronomically priced ring. What is a reasonable amount for a high income earner?


That's nuts.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Quidnam » Tue May 07, 2013 3:16 pm

stoptothink wrote:Throughout our marriage (divorced after 4yrs), I received consistent comments from her sisters and even a few from the brothers-in-law about how cheap I was because of the ring. They all had rings which were well into the 5-figures, and in a few of the cases more valuable than their entire net worth as a couple.

Sorry for your experience, but it sounds like you might be better off. These multiple red flags don't exactly speak well for the values of her family...
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Re: How Much Did You Spend on Your Engagement Ring??

Postby linguini » Tue May 07, 2013 3:27 pm

I used my grandmother's ring, and my fiancee was delighted to receive an heirloom. It is valued at something like $5k for insurance I think, but obviously has a lot of sentimental value to the both of us and is irreplaceable. Prior to that, we had been looking at rings in the $3k range (a few percent of my salary, my fiancee would be horrified if I had spent tens of thousands of dollars on a piece of jewelry to meet the "rule of thumb"). We had been looking into getting a platinum ring with a lab-made yellow diamond. This is NOT the same as cubic zirconium, but is slightly (maybe 1/2?) cheaper than mined diamonds of similar size and quality, and you can get beautiful yellow colored diamonds that would be worth tens of thousands of dollars if found in the ground. Also guarantees you don't have to worry about any ethical concerns pertaining to diamond mining, if that is a consideration for you. I would definitely recommend looking into it, at least. I can look back at my notes about where to get them if you are interested.

Also, it is really rude to make comments on other people's spending habits in social settings. Totally outrageous that anyone would do that!
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Random Poster » Tue May 07, 2013 3:36 pm

About 1.25% of my yearly gross salary.

As an aside, consider using Blue Nile.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Clearly_Irrational » Tue May 07, 2013 3:45 pm

$300, 3/4 ct Black diamond. She loves it and gets positive comments on it all the time. http://zales.imageg.net/graphics/product_images/pZALE1-9430548t240.jpg

Two months salary would have been ridiculous bling.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby hicabob » Tue May 07, 2013 3:49 pm

An interesting non cubic zirconium diamond alternative is "Moissanite"(silicon carbide) , bought to you by the materials experts at Cree Semiconductor (the folks that make the best white leds nowadays)
They run about 10% of the price of similiar size diamond.

http://www.diamondsourceva.com/Educatio ... sanite.asp
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Sheepdog » Tue May 07, 2013 3:59 pm

The one and only engagement/wedding ring set that I bought cost me $590 or 9% of my gross salary in 1960. In today's dollars that would be $4640.
Last edited by Sheepdog on Tue May 07, 2013 4:01 pm, edited 1 time in total.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby VictoriaF » Tue May 07, 2013 4:00 pm

JupiterJones wrote:1/3 of a year's salary is absurd. I think I spent about half-a-month's.


The engagement ring is an example of the principal-agent problem. The receiver is the principal; the buyer is the agent.

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