Is it true that one has to spend his 3-months salary to buy a diamond ring? This is only a true fact as different people have different pay checks, depending on their occupation. So how much should you spend on diamond engagement rings for women? There are a lot of things you need to consider while searching for women's engagement rings. Preparing a budget is one of those considerations. Let us talk about and know the average price of a diamond engagement ring.

How Much Is The Average Cost Of A Diamond Ring?

We all know that diamond rings are a huge investment. You need to consider numerous factors before shopping for Diamond engagement rings.

As per a recent report, the average diamond ring price was about 5000 Dollars in the year 2021. Nevertheless, the average price can be misleading if you want to get started with a budget. Maybe a more obliging numerical for the future buyers is the median cost. Median cost refers to the midpoint of prices across the total extent of diamond ring sales. This figure was just around 2000 Dollars.

Which Is The Most Common And Widely Popular Types Of Engagement Rings?

Take into account the engagement ring type before shopping for one. Some of the most common engagement ring types are sapphires and emeralds. Both have a great history. According to a study, it has been revealed that diamonds still sway supreme. The loving people are devastatingly yet choosing these gemstones, with 85 percent of ring buyers picking this as their main stone.

Irrespective of this, quite a few alternative gemstones are gradually gaining hype. For example, moissanite stone carries on to grow in popularity. Last year, nearly 28 percent of people who purchased an alternative ring having a diamond chose moissanite stone.

Budget for Diamond Engagement Ring Sets

Planning a budget is among the best and easiest ways to avert additional expenses on a diamond ring. According to a study, it has been revealed that about 80 percent of ring buyers plan a budget to buy Diamond Rings Online or offline.

Insurance for Diamond Rings

Besides the costs of the diamond engagement ring, you need to consider the insurance cost, too. The study also revealed that nearly 69 percent of buyers acquired insurance coverage for the ring. People should insure their rings or any other jewelry piece since they are very precious and carry a significant value.

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Diamond ring? not my place here for now