Lab-GrownDec 01, 2023
Lightbox Teams Up With Brand Founded by Former Tiffany ExecThe lab-grown diamond brand also collaborated with the website The Future Rocks on a collection launching today.
SurveysNov 16, 2017
Average Engagement Ring Spend Creeps Toward $6,500
And six more points from The Knot’s 2017 Jewelry & Engagement Study.
This diamond engagement ring from Sylvie Collection embodies many of the characteristics that were most popular among consumers who took The Knot’s 2017 engagement study: made in 18-karat white gold with a 1-carat round diamond and 0.27 carats of pave melee. It retails for $1,690 (not including center stone).
New York--The Knot’s biennial survey on marriage proposals shows that the average engagement ring spend has increased 25 percent since 2011.
According to the wedding planning website’s 2017 Jewelry & Engagement Study, which surveyed 14,000 engaged or recently married U.S. brides and grooms, the average amount spent on an engagement ring is now $6,351.
That is up 25 percent from $5,095 in 2011, and is a 6 percent increase from $5,978 in 2015, the last time The Knot conducted this particular survey.
The $6,351 figure is also a couple hundred dollars above the average of $6,163 shared in The Knot’s 2016 Real Weddings Study, which surveyed 13,000 couples who got married last year. The results of that survey came out in early 2017.
The Knot does its Jewelry & Engagement Study every other year and releases the results at the end of the year--when the greatest percentage of couples get engaged.
Below are six more points from the 2017 edition of the study, which came out Nov. 9.
1. Those $6,000+ rings are most often set with …
The most popular stone shape for engagement rings was, not shockingly, still round at 52 percent, while the average carat size for the center stone was 1.2 carats. Counting side diamonds and melee, the average total carat weight increases to 1.8.
The most popular setting metal was white gold, cited by 61 percent of respondents.
2. Consumers today do value shopping locally.
A total of 86 percent of respondents said they bought their engagement ring at a brick-and-mortar retailer and, among those, nearly half (45 percent) said they went to a local or independent jeweler.
While this is good news for the smaller brick-and-mortar players, The Knot’s survey also showed that the number of men buying engagement rings online is inching up.
The 14 percent of survey-takers who said they bought their engagement ring online is up from 10 percent in 2011.
Better pricing was the main reason for an online engagement ring purchase, cited by 63 percent of survey takers. That was followed by finding the perfect ring while browsing (45 percent), convenience (40 percent) and wanting to build a custom ring (29 percent).
3. They love custom.
Nearly half of survey takers had the engagement ring they bought for their fiancée personalized in some way, whether it was a total custom job (18 percent) or just touches of custom design (27 percent).
SEE: Unusual Engagement Rings from Amanda’s Style File
Dana Bronfman’s solitaire ring in hammered 18-karat yellow gold with a green-hued rose-cut diamond ($1,300)
Abby Sparks Jewelry “The Amber” sun-beam inspired engagement ring in 14-karat rose gold with a 0.90-carat round diamond and 1.03 total carats of diamond melee ($14,500)
Just Jules’ 14-karat white gold rose-cut diamond engagement ring ($4,100)
The 14-karat white gold Maya Collection engagement ring from Kaali Designs with blue sapphire and diamonds, shown accompanied with 18-karat white gold bands with blue sapphires ($2,500 engagement ring only; $2,250 for two bands).
Foundrae’s “If Not Now Then When” diamond baguette band with 18-karat yellow gold and Champlevé enamel ($1,995)
Alex Sepkus for Diamond Foundry x Twist 18-karat yellow gold diamond crisscross solitaire ring with a lab-grown white diamond from the Diamond Foundry at center ($12,555)
“The Faceted Pear” ring from Eva Fehren with a pear-shaped diamond and white diamond pave set in platinum ($14,775)
A bespoke ring from Carelle featuring a 7.61-carat rubellite center stone and diamonds set in 18-karat white gold ($38,900)
Todd Reed 18-karat yellow gold engagement ring with rose-cut diamonds (4.85 total carats) and white brilliant-cut diamonds ($26,200)
Delphine Leymarie’s Boheme Elise pink tourmaline ring (0.84 carats) set in 18-karat recycled yellow gold, shown here with an 18-karat yellow gold Boheme End Stack band ($2,145)
The Coomi Trinity Butterfly ring features a 2.57-carat butterfly-shaped diamond surrounded by diamonds and set in 18-karat white gold ($94,000).
Gumuchian 18-karat pink gold Tiny Hearts diamond engagement ring with 42 round diamonds ($2,200)
Jack Kelége & Co. diamond engagement ring set in platinum and rose gold (1.02 total carats) ($5,700, center stone not included)
K. Mita Dew Drop diamond ring with a rose-cut light yellow diamond (0.58 carats) set in 18-karat yellow gold and an 18-karat palladium-white gold alloy ($2,760)
Selin Kent’s 14-karat yellow gold Iris ring ($850)
Sylvie Collection 14-karat white gold solitaire engagement ring featuring 0.34 total carats of diamonds around the shank ($1,903, center stone not included)
4.
One-third of couples pick the ring together.
A total of 33 percent of survey takers said they shopped together for their engagement ring.
Among both couples shopping together and men doing it solo, the average time spent finding the ring was 3.5 months (up slightly from 3.3 months in 2011) and average number of rings looked at before purchase was 26.
The majority of prospective grooms (72 percent) said they had some concerns during the purchasing process, chief among them not knowing if they were getting a good deal (35 percent) and not having a solid understanding of diamond terminology (28 percent).
5. Tradition has made a comeback.
A total of 9 in 10 grooms-to-be said they proposed with the engagement ring in hand and used the words “Will you marry me?” That’s up from 85 percent and 86 percent in 2011, respectively.
There was also a lot of popping the question on bended knee (cue Boyz II Men), with those totaling 87 percent of all proposals, up from 77 percent in 2011. And grooms more frequently asked for permission from their partner’s family (78 percent) than in years past.
6. Proposals are becoming more public, and they’re being taped.
In the 2017 survey, a total of 45 percent of all proposals took place in a public location, like a garden, park or zoo, up from 34 percent in 2011.
Couples also want record of the proposal (mostly likely to share on social media), with 47 percent of respondents reporting they hired a photographer or videographer to capture the moment.
Want to read insights from independent jewelers on the engagement ring trends they are seeing in their stores?
Check out National Jeweler’s 50 Jewelers/50 States series.
A total of 33 percent of survey takers said they shopped together for their engagement ring.
Among both couples shopping together and men doing it solo, the average time spent finding the ring was 3.5 months (up slightly from 3.3 months in 2011) and average number of rings looked at before purchase was 26.
The majority of prospective grooms (72 percent) said they had some concerns during the purchasing process, chief among them not knowing if they were getting a good deal (35 percent) and not having a solid understanding of diamond terminology (28 percent).
5. Tradition has made a comeback.
A total of 9 in 10 grooms-to-be said they proposed with the engagement ring in hand and used the words “Will you marry me?” That’s up from 85 percent and 86 percent in 2011, respectively.
There was also a lot of popping the question on bended knee (cue Boyz II Men), with those totaling 87 percent of all proposals, up from 77 percent in 2011. And grooms more frequently asked for permission from their partner’s family (78 percent) than in years past.
6. Proposals are becoming more public, and they’re being taped.
In the 2017 survey, a total of 45 percent of all proposals took place in a public location, like a garden, park or zoo, up from 34 percent in 2011.
Couples also want record of the proposal (mostly likely to share on social media), with 47 percent of respondents reporting they hired a photographer or videographer to capture the moment.
Want to read insights from independent jewelers on the engagement ring trends they are seeing in their stores?
Check out National Jeweler’s 50 Jewelers/50 States series.
More on Surveys
The Latest
FinancialsDec 01, 2023
Movado Lowers Guidance Again After Q3 Sales DipThe company said it is facing a “challenging retail environment” but is prepared for the holiday season.
CollectionsDec 01, 2023
Piece of the Week: Muzo’s Emerald and Argyle Pink Diamond NecklaceIt’s the hero piece of the newest "Green Jewel" collection, a collaborative offering from the two mines.
Brought to you by
If It’s Custom, Make It PlatinumWith holiday proposals right around the corner, encourage your customers to go for platinum when making the big purchase.
AuctionsNov 30, 2023
This Pink Diamond Reigned Supreme in Hong KongThe 15.48-carat fancy intense “Pink Supreme” topped Christie’s fall jewelry auction in Asia, while a Patek Philippe led the watch sale.
Weekly QuizNov 30, 2023
This Week’s QuizTest your jewelry news knowledge with this short test.
MajorsNov 30, 2023
Claire’s Hires Former Bath & Body Works Exec as CFO, COOChris Cramer, who also spent time at Gen Z intimates brand Parade, will take on the dual role.
AuctionsNov 30, 2023
Sotheby’s To Auction 133-Carat Yellow DiamondThe stone headlining the upcoming sale could fetch up to $5 million.
Brought to you by
Did You Know? The Vital Role of IGI: The International Gemological InstituteIn a world where the sparkle of a gemstone is only as brilliant as the trust behind it, IGI's purpose is truly invaluable.
IndependentsNov 30, 2023
Frank Adams Rolls Out Kwiat’s ‘Mine to Shine’ ProgramThe retail offering lets customers track their diamond’s journey.
SourcingNov 29, 2023
Largest New Diamond Mine of the Decade Coming Online in Angola The Luele mine is expected to eventually make the country the world’s third-largest diamond producer.
MajorsNov 29, 2023
Cast Debuts at Nordstrom, Closes on More VC FundingThe growing company also plans to open more of its own boutiques.
EditorsNov 29, 2023
Warren Buffett on Success, Mistakes and Betting on AmericaThe best quotes from the Oracle of Omaha and his right-hand man Charlie Munger from the 2018 Berkshire Hathaway shareholders meeting.
IndependentsNov 28, 2023
Maine Jeweler to Relocate After 76 YearsJ. Dostie Jewelers will move from Lewiston to Yarmouth this spring.
IndependentsNov 28, 2023
Fink’s Jewelers Opens 10th StoreIt’s the company’s second location in Tennessee.
AuctionsNov 28, 2023
Mary Tyler Moore’s Jewelry Is Up For Auction You can have this jewelry, why don’t you take it?
Events & AwardsNov 28, 2023
The Original Miami Beach Antique Show Is Celebrating 60 YearsNext year’s milestone show will be full of educational programming and collaborations.
EditorsNov 27, 2023
10 Tips for Selling Diamonds This Holiday SeasonSales experts and a diamantaire share their best advice on how to send customers home with diamond jewelry.
CollectionsNov 27, 2023
See the New ‘Platinum Born’ JewelryThe brand has released five new collections.
IndependentsNov 27, 2023
Frank Adams Jewelers Named ‘Family Business of the Year’The Albany Business Review recently honored the 100-year-old company.
GradingNov 27, 2023
Dr. John W. Valley Retires from GIA Board of GovernorsTo honor his legacy, GIA has set up a scholarship in his name.
CrimeNov 22, 2023
JSA Warns of Surge in Attacks on Jewelers on the RoadThere have been eight attacks in the last month, spanning from a jewelry store parking lot in Rhode Island to highways in California.
TrendsNov 22, 2023
Amanda’s Style File: November GlowThese 15 pieces of jewelry celebrate November babies and the hues of citrine and topaz that reflect the colors of the season.
SourcingNov 22, 2023
Columbia Gem House Raises $12K for WildlifeThe money will help a nonprofit rehabilitate sea turtles.
MajorsNov 22, 2023
Facet Barcelona Opens New Factory in SpainThe jewelry manufacturer said it can now better serve the North American market.
TechnologyNov 21, 2023
See David Yurman’s New High-Tech Holiday Campaign The jewelry brand takes viewers through a virtual winter wonderland set in New York City.
Events & AwardsNov 21, 2023
Here Are the Winners of BIJC’s Inaugural ‘Rock the Jewels’ AwardsThe organization recognized outstanding industry players at its celebratory event.
SourcingNov 21, 2023
De Beers’ Rough Diamond Sales Sink to $80M India’s voluntary moratorium on rough diamond imports coupled with a stunted recovery in China continue to impact the miner.
