Engagement rings are expensive purchases, especially when just starting life on your own. On average Americans spend $6,351 on an engagement ring according to a 2017 study. How does this break down across the country? Which states spend the most (and the least) on engagement rings? While the average is $6,351, the range of what people pay for engagement rings by state ranges from $3,518 in the state of Utah to $10,241 in the state of California.
What Factors Determine the Cost of an Engagement Ring?
The quality of the diamond or diamonds in the engagement ring is the first determining factor. Diamonds come in grades based on cut, carat, clarity, and color. These are the 4 C’s. Any one of these factors can have a substantial effect on the price of diamonds and engagement rings. As an example, a one carat diamond with a high grade for its cut may cost anywhere from $2,000 to $12,000 depending on its grades for clarity and color. The fact is that if you go to states like Utah, Vermont, or New Hampshire where the average cost of an engagement ring ranges from $3,518 to $4,053, you will not get a better price unless you buy a smaller diamond with lower grades for clarity, cut, and color.
How to Choose a Diamond
Diamonds have two distinct qualities. They are the hardest natural substance known and thus last virtually forever. And, a well-cut, high quality diamond has brilliance, sparkle and fire that are truly unique. The key to choosing the right engagement right is to start by deciding which diamond cut and grades for clarity and color you prefer. Then, look at your budget to decide what carat weight you can afford. Use our diamond search page to help you with this pleasant task.
How to Choose an Engagement Ring
While a diamond solitaire is the most common centerpiece of an engagement ring, many choose additional smaller diamonds or precious gems such as emeralds, sapphires, or rubies as part of the setting. Be careful to make sure that all diamonds in your setting are the same grade. The choice of precious metal is also important when choosing an engagement ring. White, yellow, and rose gold are all excellent choices as well as platinum. At ID Jewelry we will be pleased to help you choose the ideal setting for your choice of engagement ring.
Where to Buy Your Engagement Ring
First of all, don’t get in your car and drive from New York where the average price paid for an engagement ring is $8,092 to New Hampshire where the average price paid is $4,053. Rather, browse our selection of engagement rings at ID Jewelry, call us toll free at 888-921-9372, or come to our store in the New York City Diamond District at 15 W 47th St #305, just a four minute walk from Top of the Rock. We offer an excellent assortment of engagement rings and even provide free shipping!