People spend way beyond their means these days. It's a problem. Not just with engagement rings, with everything. Mortgages, cars, etc.
Average cost of engagement rings
- Thread starter justpeachy4397
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When we were looking 2.5y ago, we saw some I colour 1 carat with very good...etc for $9500 US. Colours H and G with VS2 were already over $10000 with 3 EX. I would think it's hard to find 1 carat at Tiffany for under $10000 by now...
That's what google gave me. And it said $5300 in 2010. Don't know if those numbers are legitimate though.
Maybe i am confused but i was pretty sure what i saw was $10k. Lol but i get confused very easily...
I think Tiffany expanded their offerings to SI1 recently in order to still have a 1ct solitaire for 10k. I would guess that a 1.00 ct I SI1 Tiffany solitaire is right around the $10,000 mark.
Almost five years ago my original ering: 1.33ct H VS1 Tiffany Solitaire was $16,100 (I was 24, he was 26)
A year ago we upgraded to: 2.44ct E VS1? Tiffany Solitaire for $78,500.
Then six months ago we upgraded one last time to a 3.43ct G VS1 Tiffany Solitaire for an unholy sum...
If you click my username and go to my profile photo albums, I have a bunch of them there from my reveals.
acrowcounted said:If you click my username and go to my profile photo albums, I have a bunch of them there from my reveals.
I just died and went to heaven..! So beautiful.. You are very lucky!
I'm always talking about how happy we are that we went vintage Tiffany. We budgeted for a 1-1.5 ct from Tiffany or a bigger non-branded and by chance, found my ring (Tiffany three stone with AWESOME specs at 2.07 cts) for $10.9. Tiffany's valuation is closer to $30k. If I were to build the same ring via Bluenile, it would still cost $17-18k. So we saved some serious cash by keeping our options open, and I'm sure to outsiders it looks like we spent way too much on a ring (we were 26 when we got engaged).
Everyone has different priorities. Some people spend it all on the ring, but then stress out over the costs of the wedding. We had an expensive year between moving costs, redecorating/fixing up our condo, our wedding (I posted pics... our wedding was truly amazing!) and our honeymoon to Vieques. That extra $20k we saved from the retail price cushioned our other expenses, so we didn't need to sacrifice too much.
Everyone has different priorities. Some people spend it all on the ring, but then stress out over the costs of the wedding. We had an expensive year between moving costs, redecorating/fixing up our condo, our wedding (I posted pics... our wedding was truly amazing!) and our honeymoon to Vieques. That extra $20k we saved from the retail price cushioned our other expenses, so we didn't need to sacrifice too much.
I don't know what he paid but the value of my ring is 15k... 1ct center F Vs1 set in a tacori setting.
Most of my friends' rings are definitely in the 1.5k-5k range, tops. A few of the fiancés of my boyfriend's colleagues (he's a prosecutor) have rings that are in the 5k-10k range, and even that is still modest for a lawyer's salary, but people tend to forget that even lawyers start out somewhere and have debts to pay off from school. I think an estimate of 5k being around the average spent on an engagement ring is probably pretty accurate. It likely isn't the average on a luxury forum, but out there in the world I think it probably is.
I too was curious as to how some of my acquaintences posting pictures of their e-rings on Facebook could afford what looked like 1 carat + stones. Then, when I ran into them in person, I saw that what I thought was an expensive 1 carat + stone on Facebook was actually about a half carat, cleverly photographed. Or, if it was 1 carat, it wasn't a very good quality diamond. Mystery solved!
I too was curious as to how some of my acquaintences posting pictures of their e-rings on Facebook could afford what looked like 1 carat + stones. Then, when I ran into them in person, I saw that what I thought was an expensive 1 carat + stone on Facebook was actually about a half carat, cleverly photographed. Or, if it was 1 carat, it wasn't a very good quality diamond. Mystery solved!
ITA.
I don't blame the banks for people spending beyond their means. People need some common sense and must take accountability for their own actions
I don't blame the banks for people spending beyond their means. People need some common sense and must take accountability for their own actions
This! It's very easy just blame the banks! I too got loads of offers of loans etc from banks but I never felt the need to get into debt. So apart from my mortgage, I am debt free and proud of it.