Note: I posted this in another post about average e-ring carat size, and it was suggested that I start a new thread to hopefully get some more responses. I know a lot of people (myself included) are sensitive to discussing finances and money, and this is not something I feel comfortable discussing with my friends in "real life," but hopefully we can get some dialogue on this topic here.
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what do people think the average cost is for engagement rings?
Not the best question since there is such a HUGE range, but I hear things about 2-3 months salary being too much for an engagement ring... but then I see all these young people my age (in real life, and facebook friends) with 1.5-2.0ct rings, and I can't reconcile the disconnect between cost and salary.
For example, I assume a well-spec'ed ring (G-H & VS2 which seems to be the sweet spot for most people, let's say Ex-Ex-Ex for all intensive purposes) in the 1.5-2.0ct range would probably cost $20-$30k. Assuming that's "3 months pay," that person would probably be earning a net salary around $120k-$150k/year, which is considered to be pretty high for people in their 20's, especially considering the high cost of living, even as a renter.
Do you think a lot of these people are getting inherited diamonds, or dipping into their families/trusts? Or are these just poorly cut/graded diamonds and just not visible in facebook photos?
I'm just babbling now... but I am always shocked to hear people say the 2-3 month rule is a marketing ploy and unrealistic, but then I see SO many people with huge rings that do not look milky or poorly cut. Probably no good answer but just wanted to verbalize some thoughts and questions I've been having for some time!
my question about the huge rings are not really referring to people in banking, etc. I understand that and used to work in private equity.. but i'm very curious about people in other professions..
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what do people think the average cost is for engagement rings?
Not the best question since there is such a HUGE range, but I hear things about 2-3 months salary being too much for an engagement ring... but then I see all these young people my age (in real life, and facebook friends) with 1.5-2.0ct rings, and I can't reconcile the disconnect between cost and salary.
For example, I assume a well-spec'ed ring (G-H & VS2 which seems to be the sweet spot for most people, let's say Ex-Ex-Ex for all intensive purposes) in the 1.5-2.0ct range would probably cost $20-$30k. Assuming that's "3 months pay," that person would probably be earning a net salary around $120k-$150k/year, which is considered to be pretty high for people in their 20's, especially considering the high cost of living, even as a renter.
Do you think a lot of these people are getting inherited diamonds, or dipping into their families/trusts? Or are these just poorly cut/graded diamonds and just not visible in facebook photos?
I'm just babbling now... but I am always shocked to hear people say the 2-3 month rule is a marketing ploy and unrealistic, but then I see SO many people with huge rings that do not look milky or poorly cut. Probably no good answer but just wanted to verbalize some thoughts and questions I've been having for some time!
my question about the huge rings are not really referring to people in banking, etc. I understand that and used to work in private equity.. but i'm very curious about people in other professions..