When it comes to engagements, the ring is often kind of a big deal. How much you spend, or don’t spend, and what style of ring you opt for is just as individual as the two people who are getting hitched.
Australia’s Biggest Engagement Ring Survey of engaged Aussies by jewelers Diamondport has uncovered he biggest trends are when it comes to engagement rings in Australia in 2019.
How much are we spending?
The “three months salary” rule seems quite redundant in 2019, for lots of sensible reasons (dreams of home ownership one day, anyone?) and this is reflected in the findings of the survey.
The survey found that the average spent on an engagement ring in 2019 is $5297 compared to $2579 10 years ago.
Most people said they had a budget in mind when it came to buying an engagement ring, with 77 per cent of those with a budget sticking to it during the process.
Four per cent of respondents spent more than $20,000 on their engagement ring and 1.5 per cent spent more than $25,000.
Diamonds are still a girl’s best friend
The survey revealed that more than 50 different stone types are selected for engagement rings, but the traditional stone, the diamond, still rules the roost.
Diamonds accounted for 82% of engagement rings, followed by sapphires.
Most popular ring styles
The most popular ring style in 2019 is a “halo” style, a big change compared with ten years ago.
The halo style features stones around a larger middle stone.
The next most popular style is a centre stone with smaller diamond side stones, followed closely by the traditional and more classic solitaire which has one centre stone on plain metal band.
Three stone rings accounted for 7.5 per cent of all engagement ring purchases.
What about size?
The survey found people are buying an even spread of sizes from under 0.5 ct to 1.2ct. 55 per cent of all engagement rings are under 0.5ct to0.90ct. And 16 per cent o7f engagement rings are over 1.2ct.
People are buying larger diamonds in 2019 than they did a decade ago with twice as many people buying greater than 1ct diamond.
Images: Courtesy diamondport.com.au