AuctionsJan 31, 2025
Elizabeth Taylor’s Diamond Bracelet Outshines Estimate at U.K. AuctionThe auction also featured the sale of a Cartier necklace made when Egyptomania was sweeping Great Britain.
SurveysFeb 16, 2017
How Much Are US Consumers Spending on Engagement Rings?
According to The Knot, the average spend is now above $6,000 while The Wedding Report says it’s closer to $3,400.
The average cost for an engagement ring has passed the $6,000 mark, according to The Knot’s 2016 Real Weddings Survey, while The Wedding Report says it’s more like $3,407. Pictured here is a ring from Kirk Kara’s “Lori” collection ($4,340 in platinum, $3,050 in 18-karat gold, not including center stone).
New York--No matter which report you put more stock in, it’s good news for jewelers: The average amount consumers are spending on their engagement ring in the United States continues to rise.
Recently, wedding planning website The Knot released the results of its 2016 Real Weddings Study in which the company surveyed some 13,000 couples who got married last year to chart the financial spending habits and trends of real weddings in America.
When it comes to the cost of an engagement ring, the survey found that the average spend in the U.S. rose from $5,871 in 2015 to an average of $6,163 last year, an increase of 5 percent.
The Knot said in a press release that survey respondents represent a variety of ethnicities, and educational and income levels and are geographically dispersed across the country. But the company did not respond to a request for more specific information about the survey demographics by press time.
The Knot draws from its own membership for the survey.
Meanwhile, The Wedding Report, a research company that tracks and forecasts spending in the wedding industry, has released a different set of numbers, saying that the average amount consumers spent on their engagement ring rose slightly last year, from $3,386 in 2015 to $3,407 in 2016.
The report also noted that spend on the wedding band is down slightly, decreasing less than 1 percent to $1,242.
The Wedding Report draws on a geographically and demographically diverse crowd, including multiple ethnicities, education levels, occupation types, income levels, marriage number and participants 16 and over, though specific demographics of the participants were not given to National Jeweler.
Both The Knot’s survey and data from The Wedding Report also found that the average cost of weddings is increasing.
According to The Knot’s 2016 Real Weddings Study, the average cost has reached an all-time high at $35,329, up from $32,641 in 2015.
The Wedding Report’s data showed an increase that was less pronounced and a lower total overall, from $26,645 in 2015 to $26,720 last year.
Not surprisingly, the most expensive place to get married in the country is Manhattan, where couples spend a whopping $78,464 on average on their big day, according to The Knot.
In fact, four of the five most expensive places across the country are located in the New York metro area: Manhattan, Long Island, north/central New Jersey and the outer
Editors' Picks
Sponsored by
boroughs of New York City. Coming in at fifth on the list was another major metro area, Chicago.
So, what’s behind the increase in cost of weddings these days?
The Knot found that couples are putting more focus on their guests’ experiences at the event. They are decreasing the number of guests but spending more per guest overall as brides and grooms aim to provide tailored entertainment and special amenities.
The spend on custom entertainment for guests has more than tripled from 11 percent in 2009 to 41 percent last year, with photo booths, games, musical performances and fireworks topping the list, The Knot said.
So, what’s behind the increase in cost of weddings these days?
The Knot found that couples are putting more focus on their guests’ experiences at the event. They are decreasing the number of guests but spending more per guest overall as brides and grooms aim to provide tailored entertainment and special amenities.
The spend on custom entertainment for guests has more than tripled from 11 percent in 2009 to 41 percent last year, with photo booths, games, musical performances and fireworks topping the list, The Knot said.
More on Surveys
The Latest
CollectionsJan 31, 2025
Piece of the Week: Lalaounis’ Good Luck Charm for 2025The “Blossom Rosette” blooms with love, beauty, and hope for the year ahead.
IndependentsJan 31, 2025
Harvey Rovinsky, Longtime Owner of Bernie Robbins Jewelers, Dies at 77Rovinsky is remembered as a great mentor who made the employees of his stores feel like family.
Brought to you by
3 New Year’s Resolutions for Jewelry Lovers The new year feels like a clean slate, inspiring reflection, hope, and the motivation to become better versions of ourselves.
Events & AwardsJan 31, 2025
Facets of Fire Has a Diamond Challenge for RetailersFor every jeweler who tries their luck, the company will make a donation to Jewelers for Children.
Weekly QuizJan 30, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsJan 30, 2025
WJA Chapter Leaders Resign as Fallout From DEI Remarks SnowballsThe boards of at least five chapters have resigned in response to controversial statements the WJA national board president made last month.
Policies & IssuesJan 30, 2025
RJC Executive Director Melanie Grant Is Stepping Down An experienced jewelry writer and curator, Grant led the organization for two years.
Brought to you by
A Diamond Is Forever Celebrates "Forever Present" Holiday CampaignA Diamond is Forever hosted a holiday celebration in honor of their new marketing campaign, ‘Forever Present.’
CollectionsJan 30, 2025
Pharrell Williams Brings Tahitian Pearls to His New Tiffany & Co. CollectionFive new designs were added, all donning Tahitian cultured pearls and spear-like trident motifs, along with the new “Titan” setting.
Events & AwardsJan 30, 2025
Registration Open for Converge 2025The inaugural event is being co-hosted by the American Gem Society and the Gemological Institute of America.
MajorsJan 30, 2025
24 Karat Club of New York Elects 5 New MembersJewelers of America’s Annie Doresca and AGTA CEO John W. Ford Sr. are among the new members.
CollectionsJan 29, 2025
Boucheron’s High Jewelry Takes the Form of ‘Untamed Nature’The jeweler’s latest high jewelry collection looks into the Boucheron archives to create a “living encyclopedia of high jewelry.”
FinancialsJan 29, 2025
LVMH Watch, Jewelry Sales End the Year DownWatch and jewelry sales slipped 3 percent in 2024, though the luxury conglomerate did see business pick up in the fourth quarter.
MajorsJan 29, 2025
Chanel Names New General Manager of Watches, Fine Jewelry for USOlivier Kessler-Gay will take over the role on March 3.
Events & AwardsJan 29, 2025
Chris Ploof To Teach Mokume Gane at AJSThe jewelry designer and master metalsmith will present on the ancient Japanese metalworking technique at the Atlanta Jewelry Show in March.
SourcingJan 28, 2025
WFDB Joins Efforts to Promote Natural Diamonds With New CampaignThe “Moments” social media campaign emphasizes the emotional ties between natural diamonds and life’s special milestones.
CollectionsJan 28, 2025
Bliss Lau Celebrates the Intricate Mosaic of Identity in New CollectionThe versatile “As We Are” collection features 14 pieces with interlocking designs allowing for 27 different looks worn around the body.
SourcingJan 28, 2025
Botswana’s First Olympic Gold Medalist Is Now a De Beers Ambassador Letsile Tebogo will help to promote natural diamonds and the good they have done for his country.
Events & AwardsJan 28, 2025
NouvelleBox Show Returns to New York CityThe showcase, in its second year, will feature more than 20 international brands at its curated event from Feb. 2-4.
Recorded WebinarsJan 28, 2025
Watch: Fine Jewelry Market Predictions for 2025 “My Next Question” guests Sherry Smith and Edahn Golan share their 2025 forecasts, from sales and marketing to what retailers should stock.
Events & AwardsJan 28, 2025
Here Is the 2025 AGTA GemFair Tucson Educational LineupThe seminar series covers topics from market trends and colored stone terminology to working with museums and growing an Instagram profile.
MajorsJan 27, 2025
Le Vian Corp. Chairman Larry LeVian, a Man of Faith and Family, Dies at 73 LeVian is remembered for his leadership in the jewelry industry and for being a selfless and compassionate person.
CrimeJan 27, 2025
New Jersey Jeweler Sentenced to 2 1/2 Years for Evading CustomsMonishkumar Kirankumar Doshi Shah pleaded guilty to evading customs on more than $13.5 million of jewelry imported into the U.S.
SourcingJan 27, 2025
Dev Shetty To Head New Auction House for Rare Colored GemsJemora Gemhouse’s inaugural auction, slated for March, will take place in Dubai and feature polished sapphires.
CollectionsJan 27, 2025
Rachel Quinn Embodies Feelings of Falling in Love in New CollectionQuinn partnered with Gemfields to create “Crazy Love,” which features Zambian emeralds and Mozambican rubies across 10 pieces.
MajorsJan 27, 2025
Arch Crown’s 2025 ‘Tag & Label’ Catalog Is Out Now The catalog is 48 pages and features more than 100 styles.
CollectionsJan 24, 2025
Piece of the Week: Ashley Zhang Jewelry’s Lunar New Year NecklaceThe one-of-a-kind necklace was designed in celebration of the Chinese New Year, as 2025 is the Year of the Snake.
