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Engagement-Ring Prices Stable at $3.4K
Jun 12, 2017 10:06 AM
By Rapaport News
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RAPAPORT... The price of engagement and wedding rings in the US hasn’t
changed much since last year, according to data that research group The Wedding
Report released Monday.
The average groom spent $3,406 on a ring for the proposal
during the first three months of 2017, compared with an average of $3,407 in 2016
as a whole, the data showed. Wedding rings for the bride cost $786 on average, versus
$785 throughout 2016, while the price of men’s wedding bands was stable at $456.
Weddings in general were less expensive during the quarter, with
overall costs down 2.8% to $26,720. The organization attributed the decline to lower
demand for transportation, entertainment and beauty services, as couples increasingly
seek non-traditional options.
The group based its report on survey answers from 3,401
couples who either got married or spent money on an upcoming wedding between
January and March.
The figures contrast with those The Knot published in
February, which showed a much higher spending average for engagement rings in
the US during 2016: $6,163, a 5% increase over the previous year. The wedding-resource
site surveyed nearly 13,000 US couples recruited from its online membership.
Image: Stephen Durham
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Tags:
Bridal, bridal jewelry, DERs, diamond engagement rings, Diamond prices, engagement rings, Rapaport News, The Knot, The Wedding Report, wedding rings, Weddings
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Re: Contradictory
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Jun 15, 2017 10:54AM
By Avi Krawitz
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Dear Paul
Thank you for your comment below. You make a valid point. There are various surveys out there that reference the average amount spent on engagement rings, including from The Wedding Report, referenced in this story, and from The Knot, which found an average engagement ring cost of $6,163 in 2016.
The average price published in the June edition of Rapaport Magazine was based on a monthly survey we do of select jewelry retailers.
Thanks again for your feedback.
Avi (News Editor)
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Contradictory
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Jun 13, 2017 11:11AM
By Paul Pysh
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The June 2017 issue of Rapaport Magazine mentions the average price of an engagement ring, including the stone, is $7,870.00. So, which is it?
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