How Much Did You Spend on Your Engagement Ring??

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

Postby Easy Rhino » Fri May 17, 2013 5:42 pm

protagonist wrote:That seems all very sensible, but also seems like it takes the romance out of it, which, if there is a point, strikes me as the only point.

I don't think I explained that the reason I had the "placeholder" was so that I could still surprise my wife and embarass both of us with the proposal. :beer

and if we didn't get to pick out diamonds at the wholesaler's back room then it wouldn't have been nearly as much fun.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby manyness » Sat May 18, 2013 12:12 am

rodi wrote: and I've never bought into the de beers hype about diamonds.


100 years of wasted marketing effort to artifically-value a not-rare clear rock
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Re: How Much Did You Spend on Your Engagement Ring??

Postby JonLuskin » Sat May 18, 2013 2:51 am

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 spent $1K. I was going to spend $5k (the national average, says one website), but then I thought about how terrible of an idea that was. That could be house down payment money, or honeymoon money.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby gerrym51 » Wed Jun 12, 2013 12:39 pm

My wife just received a 380 dollar check on this lawsuit

it was on an upgraded ring
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Petrocelli » Wed Jun 12, 2013 12:45 pm

I think I spent around $3,000 in 1986. At that time, it was about a month's salary.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby ER2023 » Sat Sep 07, 2013 7:51 am

$14,500 - and honestly, we would never do it again. The ring is beautiful and we were able to afford it, but we both realize it's just a "thing". Dumb mistake - both of us would rather have spent the money elsewhere.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby ER2023 » Sat Sep 07, 2013 7:56 am

Professor Emeritus wrote:Just because its Mother's day

Nothing on the stone. When I was 9 years old my mother lost her diamond wedding ring into the garbage at our vacation apartment. On a hot August day I dug through the garbage from 32 apartments, and after a number of hours of digging though crab and fish guts I found the ring. My mother said when I found a girl who would marry me, the girl would get the diamond. When I presented the girl to my mother, My mother slipped the ring off her finger and handed it directly to my future wife. We had the stone put in a special setting. When my wife was asked where she got the ring, she always said with a huge smile "would you believe a garbage dump?" That was 40 years ago. I still have the Girl and she still has the ring. Thanks MOM



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

Postby frugaltype » Sat Sep 07, 2013 8:20 am

ER2023 wrote:
Professor Emeritus wrote:Just because its Mother's day

Nothing on the stone. When I was 9 years old my mother lost her diamond wedding ring into the garbage at our vacation apartment. On a hot August day I dug through the garbage from 32 apartments, and after a number of hours of digging though crab and fish guts I found the ring. My mother said when I found a girl who would marry me, the girl would get the diamond. When I presented the girl to my mother, My mother slipped the ring off her finger and handed it directly to my future wife. We had the stone put in a special setting. When my wife was asked where she got the ring, she always said with a huge smile "would you believe a garbage dump?" That was 40 years ago. I still have the Girl and she still has the ring. Thanks MOM



Great story!


+1
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Bob's not my name » Sat Sep 07, 2013 8:33 am

4 days' pay
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Meaty » Sat Sep 07, 2013 11:14 am

Chan_va wrote: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.


Hopefully it won't be sold as that likely means you got divorced. There's nothing worse for your retirement portfolio than divorce
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Re: How Much Did You Spend on Your Engagement Ring??

Postby wander » Sat Sep 07, 2013 11:22 am

A little bit more expensive than her older sister's engagement ring, because there might have been a comparison.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby midareff » Sat Sep 07, 2013 11:23 am

Wife refused a ring and said leave the money in the bank and retire earlier. She is not a jewelry girl at all. We are both retired now, married three years September 18 (Bangkok Buddhist ceremony) and 9 months US side. Not a first marriage for either of us. If she wanted one I would get her whatever she wanted.

On the other hand .. I had my mother's (long deceased) made into a ring for me which I hardly ever wear although I do like and have expensive jewelry.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Trev H » Sat Sep 07, 2013 11:49 am

I got married in 1990 and paid real close to 5% my annual salary for my wife's ring - a 3/4 carot diamond solitaire, nice and clear.

I agree with others that paying 1/3 annual salary seems like way to much but if you are very wealthy that changes things a bit.

I was not, she was not, and we were both very happy with what we got.

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

Postby stoptothink » Sat Sep 07, 2013 12:04 pm

Recently got engaged, let her pick it out...$460, so somewhere in the neighborhood of .6% of my annual salary. She didn't want a diamond and I was quite happy about that.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby island » Sat Sep 07, 2013 12:27 pm

G-Money wrote: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!


Oh, oh, definitely the wrong place to ask this question. :greedy

Completely agree with G-Money on all points and choose quality over size, color and clarity are important.

Best wishes!
Last edited by island on Sat Sep 07, 2013 12:55 pm, edited 2 times in total.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby island » Sat Sep 07, 2013 12:43 pm

Error. duplicate post.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby mnnice » Sat Sep 07, 2013 9:16 pm

DH didn't buy one.

He looked both by himself and with me and always returned empty handed.

I thought at 15, 20, 25 years old that I wanted a round solitaire with a Tiffany type setting. IRL I thought emerald cut was prettier on my long skinny fingers. I also found engagement rings uncomfortable.

We ended up with two bands purchased for a hundred bucks total (in 2000). I still wear mine. DH's was destroyed in a house fire and it will not be replaced since it ended up being impractical and unsafe to wear to work
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Re: How Much Did You Spend on Your Engagement Ring??

Postby magician » Sun Sep 08, 2013 1:03 am

$600 for all three: her engagement and wedding rings, my wedding ring.

Thirty-four years ago.

I had the good sense to marry a woman who doesn't like diamonds; we got a custom design of a dove holding an olive branch: the leaves are jade.
Simplify the complicated side; don't complify the simplicated side.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby vg55 » Sun Sep 08, 2013 8:30 am

$0 on the engagement ring and $ 50 on the wedding ring.

My wife and I have been married for 32 years.

Starting out we had almost nothing; a beaten up old car and the clothes on our backs. We were too proud to ask our hard-working parents for help and we weren't going to put the jewelers' kids through college with the purchase of two expensive rings.

Now I could afford to buy my wife a diamond ring -- one for each finger and toe. But it is the simple ring that has the greatest luster. That simple wedding band has tremendous sentimental value because it represents our start and the distance traveled.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby jdb » Sun Sep 08, 2013 10:01 pm

Good to read on this site that I am not only guy who thought diamond engagement rings were marketing gimmick and whose future bride agreed with me. After 38 years of marriage my wife now wearing her grandmother's engagement ring which she inherited. She likes to kid me in front of friends and our grown children that I was too cheap to buy her a ring though now that we could afford diamond rings for all fingers and toes I still like her values as young bride when she agreed that it was unnecessary expense for two kids with little money. But very personal, our oldest son gave beautiful ring to his bride when married and can certainly understand reasoning for giving ring though I still consider it a marketing gimmick.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Gretchen » Sun Sep 08, 2013 10:44 pm

Boglehead at heart, even before I knew you! I asked my father and stepmother to send me my deceased mother's diamond engagement ring. I now wear that on my right hand and my wedding ring on my left hand. I've had them both -- along with the husband -- for almost 30 years now.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby protagonist » Sun Sep 08, 2013 10:49 pm

vg55 wrote:$0 on the engagement ring and $ 50 on the wedding ring.

My wife and I have been married for 32 years.

Starting out we had almost nothing; a beaten up old car and the clothes on our backs. We were too proud to ask our hard-working parents for help and we weren't going to put the jewelers' kids through college with the purchase of two expensive rings.

Now I could afford to buy my wife a diamond ring -- one for each finger and toe. But it is the simple ring that has the greatest luster. That simple wedding band has tremendous sentimental value because it represents our start and the distance traveled.



That's sweet. Really. I mean it.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby galectin » Sun Sep 08, 2013 11:39 pm

As with some others, no engagement ring. And, simple wedding rings for both of us.

Still married (happily) after 39 years.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby dandan14 » Mon Sep 09, 2013 5:11 pm

Don't buy into the stupid 2-3 month salary rules. That's utterly ridiculous. I used BlueNile and bought a pretty nice middle diamond and 2 smaller side diamonds. But now, only 5 years later, I have absolutely no recollection of the various ratings for those diamonds. And honestly, I don't think my wife ever knew/cared whether it was VVS1 or whatever. Find out what style she likes, and find a nice ring. That's all you need. In fact, we bought a fake ring when we were traveling overseas for $20. It was really nice looking. :-)
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Re: How Much Did You Spend on Your Engagement Ring??

Postby eharri3 » Mon Sep 09, 2013 6:54 pm

Nearly 8 grand. 10% of that year's salary gross salary, about 3 months take-home pay.

My wife likes diamonds and was raised by a mother that is big on jewelry.

My opinion is no industry ever has or ever will go broke thinking up silly things for women to waste lots of money on, or to make men waste lots of money on for them. If this didn't hold true the wedding and diamond industries would not be turning a profit. I have told her before I think it's stupid she puts so much value in a worthless little rock whose price gets driven up because big mountains of it are stored in a room by greedy people who pay pennies for it to be dug out of the ground before hoarding it and releasing it to the world in strictly controlled quantities. She doesn't care.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Professor Emeritus » Mon Sep 09, 2013 9:23 pm

eharri3 wrote:Nearly 8 grand. 10% of that year's salary gross salary, about 3 months take-home pay.

My wife likes diamonds and was raised by a mother that is big on jewelry.

My opinion is no industry ever has or ever will go broke thinking up silly things for women to waste lots of money on, or to make men waste lots of money on for them. If this didn't hold true the wedding and diamond industries would not be turning a profit. I have told her before I think it's stupid she puts so much value in a worthless little rock whose price gets driven up because big mountains of it are stored in a room by greedy people who pay pennies for it to be dug out of the ground before hoarding it and releasing it to the world in strictly controlled quantities. She doesn't care.


OFGS men buy silly cars, motorcycles, ATVS, jetskis and all manner of fun money sinks. I personally own 26 stainless steel thermos bottles of all different sizes. Ever see guys drool in the craftsman department over tools they would never use?
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Clearly_Irrational » Mon Sep 09, 2013 9:34 pm

Professor Emeritus wrote:Ever see guys drool in the craftsman department over tools they would never use?


Hey there, you're way out of line. It's shiny or tough looking and has a use in making and/or fixing things, that makes it an intrinsic good, the mere fact that I won't personally put it to any productive use is irrelevant to the conversation.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby harrychan » Tue Sep 10, 2013 12:00 am

It was free. The engagement ring came with the diamond. The diamond cost about $3800.
This is not legal or certified financial advice but you know that already.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby fizxman » Tue Sep 10, 2013 8:12 am

I'm not married but I inherited my late grandmother's wedding and engagement rings when she passed away. I paid $500-$600 to get the 60-70 year old rings cleaned, fixed and appraised (appraised at $3000 total a few years ago). I don't remember the stats on the diamonds but the metal is platinum. I told my girlfriend that if we get married, those are going to be her wedding and engagement rings and she was fine with them; nothing too flashy but they're nice. I think she's getting antsy too; her younger brother just got married and all of her college roommates are either married or engaged.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby goodbishop » Tue Sep 10, 2013 10:35 pm

The wife is a doctor, so I kinda wanted to get her something nice. With a bit of bling. At the time, it was one of the biggest purchases that I had made, second only to my car ($16,000, 2004 Ford Focus).

I ended up doing about 3 months worth of research on diamonds, diamond prices, diamond cuts, in store visits - you name it, I learned about it. I was on the quest to get her the perfect stone. For her, that is.

I got her a 1.05 F VS1 Solasfera diamond, that had perfect proportions, perfect max on Gemex, and a 9.8 on the ISEE2 machine. Plus it has 10 hearts and arrows, not 8. I tell her it's because I love her more. :)

It came in a simple solitare Tiffany style 18k yellow gold ring with a platinum diamond holder with 6 clasps. Very elegant.

I seem to recall paying 11,750 or so. It was worth it. My annual salary at the time was something along the lines of 60k or so - but I was (and am) a super saver. I don't regret splurging.

As a side note, I would highly recommend checking out the following sites - they were my finalists:

www.goodoldgold.com <-- I purchased my diamond and ring from here, sight unseen, but you'll see why when you visit the site. A beyond excellent site for diamonds.
www.bluenile.com
www.whiteflash.com

And if you want to learn more about diamonds, check out www.pricescope.com . You can plug in diamond statistics from Blue Nile into here - http://www.pricescope.com/tools/hca to see if they are good or not.

It's all about the cut. Don't skimp on the cut. Just sayin'.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby chaz » Tue Sep 10, 2013 11:22 pm

Too long ago for my poor memory to recall.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Luke Duke » Wed Sep 11, 2013 9:55 am

I bought a nice setting and a fake diamond. My wife was aware and on board with the decision. I expected that I would end up buying a real diamond a couple of years later. 8+ years later the topic has never come up.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby tomd37 » Wed Sep 11, 2013 10:23 am

I paid $500 for the unmounted diamond in 1964. Was earning $375 per month in the military. Was stationed with the US Navy Seabees (MCB-6) in Rota, Spain and ordered the stone from a diamond merchant in Antwerp, Belgium and had it sent to me in Rota. It has been in good use for the past 47 years. :sharebeer
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Re: How Much Did You Spend on Your Engagement Ring??

Postby davebo » Wed Sep 11, 2013 10:59 am

I paid $5,000 in 2002. It was probably about 1.5 months salary at the time, but I financed it over 12 months at 0%. My wife has worn the engagement ring every day for 11 years so I don’t regret it; even if the “industry” roped me into spending more. I've wasted money on sillier things.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby island » Fri Sep 13, 2013 4:17 pm

Oh wow, here's a great deal on a slightly used ring. How could you possibly pass on this steal? Just imagine the fabulous luck associated with it! :D

http://omg.yahoo.com/blogs/celeb-news/c ... 22302.html
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Re: How Much Did You Spend on Your Engagement Ring??

Postby 02sbxstr » Fri Sep 13, 2013 4:28 pm

I don't remember exactly, but I recall about $500 in 1970. That would have been half a month's pay when I started work in 1972. We did spend for fairly elaborate wedding bands.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby eharri3 » Fri Sep 13, 2013 7:15 pm

Professor Emeritus wrote:
eharri3 wrote:Nearly 8 grand. 10% of that year's salary gross salary, about 3 months take-home pay.

My wife likes diamonds and was raised by a mother that is big on jewelry.

My opinion is no industry ever has or ever will go broke thinking up silly things for women to waste lots of money on, or to make men waste lots of money on for them. If this didn't hold true the wedding and diamond industries would not be turning a profit. I have told her before I think it's stupid she puts so much value in a worthless little rock whose price gets driven up because big mountains of it are stored in a room by greedy people who pay pennies for it to be dug out of the ground before hoarding it and releasing it to the world in strictly controlled quantities. She doesn't care.


OFGS men buy silly cars, motorcycles, ATVS, jetskis and all manner of fun money sinks. I personally own 26 stainless steel thermos bottles of all different sizes. Ever see guys drool in the craftsman department over tools they would never use?


Everything else on your list serves a valid purpose and has a function. Or could hypothetically do so even if it is purchased and never used. Diamonds do nothing.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Zach3859 » Sat Sep 14, 2013 1:12 am

Just popped the question myself two weeks ago on a trip to Boston.

Anyway, total cost of diamond engagement ring was $7,000 or roughly 8% of pretax income. Highly recommend purchasing from a locally owned jewelry store and negotiating with cash.
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Balance » Sat Sep 14, 2013 1:22 am

We were just married a couple weeks ago in Hawaii but we have been engaged for a few years. My wife is pretty frugal but very sentimental. When her mom passed away she was given her old wedding ring. My wife used the diamond from her mom's ring and we ended up buying a new band since she wanted white gold instead of the original yellow gold band the diamond used to be on. She is so happy to wear this ring since the same diamond belonged to her mother and we were able to save a ton of money. It makers her dad very happy to be wearing the ring as well. All parties are satisfied including myself :D
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Re: How Much Did You Spend on Your Engagement Ring??

Postby Professor Emeritus » Sat Sep 14, 2013 10:33 am

eharri3 wrote:
Professor Emeritus wrote:
eharri3 wrote:Nearly 8 grand. 10% of that year's salary gross salary, about 3 months take-home pay.

My wife likes diamonds and was raised by a mother that is big on jewelry.

My opinion is no industry ever has or ever will go broke thinking up silly things for women to waste lots of money on, or to make men waste lots of money on for them. If this didn't hold true the wedding and diamond industries would not be turning a profit. I have told her before I think it's stupid she puts so much value in a worthless little rock whose price gets driven up because big mountains of it are stored in a room by greedy people who pay pennies for it to be dug out of the ground before hoarding it and releasing it to the world in strictly controlled quantities. She doesn't care.


OFGS men buy silly cars, motorcycles, ATVS, jetskis and all manner of fun money sinks. I personally own 26 stainless steel thermos bottles of all different sizes. Ever see guys drool in the craftsman department over tools they would never use?


Everything else on your list serves a valid purpose and has a function. Or could hypothetically do so even if it is purchased and never used. Diamonds do nothing.



Right and guys buy Rolex watches because they keep 10 K worth of time, and those super bowl rings are so useful for for for for ................
Having a "function" means nothing. All "Status symbols" have a "function" . The function is normally "having fun"
A mounted moose head on the wall does what? means what?
Model trains have no more "function" than a diamond ring.
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