An engagement ring is undoubtedly one of the most expensive purchases of your lifetime. When it comes to engagement rings, diamonds symbolize the pledge of eternal devotion. The billion-dollar global diamond engagement ring market stands testament to the diamond’s unfading popularity. The designs and styles of engagement rings vary according to fashion trends. However, the diamond as the main stone remains forever a favorite. At Diamond Exchange Houston the main product that we buy and sell is engagement rings.
What exactly is the right price?
The statistics of an engagement ring’s average cost in the US reveals a truth quite contrary to the two-months’-salary rule often touted by fashion magazines, ambitious merchants, and fancy box jewelers. In fact, a few weeks’ salary rather comes closer. According to a poll conducted by The New York Times, on an average, anything between $3,000 and a maximum of $8,000 seals the deal for most ring hunters.
However, what $5,000 gets you in Arkansas is not what it will get you in California. The cost can astonishingly diverge by a staggering $2,000 between the two farthest ends of the country! The Mid-Atlantic states rule the roost with the highest average price tag of $7,500. New England states rank second with $6,900, followed by Southwest costing $5,600, and the ruddy West hovering around $5,500. Southeast keeps it minimal with $5,400, followed by the Midwest with a reasonable $5,300.
Yet arriving at a consensus is not so straightforward a process. Prices vary even drastically within these regions. Another survey enlightened us with the most budget-minded men of South Dakota keeping the ceiling really low at $3,005. The highest spenders belong to California and Washington with respective budgets of $9,482 and, wait for it, $10,109.
How much should you spend for an engagement ring?
You should only spend an amount you are comfortable with. Working within the budget is critical so that you don’t end up scrimping on other aspects of your wedding. With the pandemic creating a global ambiance of recession, it is advisable that you don’t get into the debt trap. At Diamond Exchange Houston the first thing we might ask you when you are shopping for an engagement ring with us is about your budget. Then, our goal is always to get you the nicest ring for your budget.
When it comes to ring etiquette, there is no one clear answer. The first step is debunking any old, widely-held, price-related myths. Next, decide on a price estimate that perfectly suits your budget and meets your partner’s style preferences.
Determining the price of a ring depends on multiple quality factors of a ring. Prices vary widely owing to the size and superiority of the main diamond, additional detailing like stones on the band or a halo, and the chosen metal. Consider the high mark-ups that accompany most brand name jewelry stores. Researching beforehand about the 4C’s of a diamond and the retailer’s specialty can help you find the best possible choice for your budget.
Though most surveys implement diverse methodologies to review different segments over a period, they tend to represent the existing situation at the time of the survey. Primarily, the price of an engagement ring differs based on a number of individual factors such as a preferred retailer, taste, and more importantly budget. Hence, instead of simply pursuing numbers and data trails, following your heart and pocket will help ensure a more satisfactory purchase.
Why Shop At Diamond Exchange Houston VS. Other Retail Stores For Engagement Rings
Diamond Exchange Houston is unlike other retail jewelry stores. For the average price of an engagement ring, you will be able to get a lot bigger and higher quality diamonds. An engagement ring that you might buy at a normal retail jewelry store for $5k, you can buy from Diamond Exchange Houston for only $3500. We are a diamond wholesaler that is open to the public. We are not set up like popular jewelry stores you might see on TV. Our overhead is low and in turn, our prices are unbeatable.
Our engagement ring selection is endless. We carry every shape and size of diamonds, all styles of settings, and are experts at crafting custom engagement rings. To truly see the difference we invite you to schedule an appointment at Diamond Exchange Houston today by calling us at 281-623-1105 or by visiting our jewelry store at: