Average Engagement Ring - 1.3-carat Center Stone, $5,500 Price Tag
December 24, 20
(IDEX Online) - The average spend on an engagement ring fell slightly in the US to $5,500 this year.
That's according to a survey on 5,000 newly-engaged individuals for online wedding website The Knot.
It dipped slightly from $5,900 in 2019 as one in eight couples shopped virtually for a ring. But the pandemic had only a "minimal" effect on their spend, said The Knot 2020 Jewelry & Engagement Study.
The most popular cut for the center stone remains round (43 per cent), followed princess/square (13 per cent) and oval (15 per cent). The average size was 1.3-carat.
The most popular ring setting materials were white gold (48 per cent), yellow gold (16 per cent), rose gold (13 per cent), platinum (13 per cent).
And those making the proposal said the most important features of the ring were, in order, style and setting, shape of the center stone and the type of stone.