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Couples Prefer Customization over Size

Average cost of engagement ring rises 4% to $5,900, according to The Knot.
Nov 5, 2019 9:43 AM   By Rapaport News
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RAPAPORT... Couples are prioritizing personalization and overall cost and quality rather than size when buying engagement rings, according to a survey by wedding-planning resource The Knot.

Some 45% of engagement rings contain custom-designed elements, the publication noted last week in a report based on a survey of over 21,000 engaged or recently married couples. While colorless diamonds were still the most popular center stone, featuring in 83% of rings, other precious stones are gaining momentum, and one in 10 couples opted for materials such as moissanite or sapphire.

“Couples are tossing and twisting engagement traditions like never before, whether choosing to propose on top of a mountain in private or at the location of their first date in front of family and friends,” said Kristen Maxwell Cooper, The Knot’s editor in chief.

The national average outlay for an engagement ring rose 4% to $5,900, versus $5,680 in The Knot’s previous report in February. However, one in three proposers shelled out $1,000 to $4,000. Almost eight in 10 set a budget, with 80% of them deciding the limit themselves, and 20% discussing it with their partner.

Roughly 50% of engagement rings contained one to two carats in total, though one in four exceeded two carats. Some 47% selected a round stone, with oval and princess cuts following with 14% each. Cushions represented 9% of the market, while 5% picked pear-shaped stones.

In addition, 15% of recipients of an engagement proposal preferred a lab-grown stone, “potentially as a result of a more ethical sourcing method,” The Knot added.

Couples also showed a partiality for traditional purchasing methods, with 40% using a local independent jewelry retailer, while 30% bought from a national or regional jewelry chain.

Image: An autumn engagement. (Shutterstock)
Tags: Bridal, engagement, engagement rings, Rapaport News, retail, rings, The Knot, Weddings
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