The average expenditure on an engagement ring in the U.S. stayed flat in 2018 at $3,388, fitting the new pattern of economizing on the big day and a slight shift away from including an engagement ring, according to a survey from The Wedding Report. The survey concluded that the average cost of a wedding in the U.S. declined by 4%, from $25,764 in 2017 to $24,723 in 2018.
Famed jeweler Tiffany & Co. has lifted the veil on the company’s upcoming jewelry collection, Tiffany True, its first new engagement line in nearly a decade. The newly designed engagement ring at the core of the collection features a new cut of diamond, and its setting is designed so that its four link sides create a basket for the ring, allowing it to sit lower on the finger for a more modern feel.“Tiffany has symbolized the ultimate in love and commitment since 1886 with the invention of the original Tiffany Setting.
National Jeweler's Michelle Graff provides a preview of the five hottest engagement ring trends for 2018 according to WP Diamonds, the online jewelry purchasing division of White Pine Trading. "Rose gold with pavé, three-stone rings that mimic Meghan Markle’s, and more halos are three of the engagement ring trends WP Diamonds is forecasting for 2018." The classic, solitaire 'Tiffany setting' (don't call it Tiffany, she warns) is always on the list, and yellow stones are “gaining some serious momentum”, according to WP Diamonds.
According to a survey of more than 14,000 engaged or recently married individuals undertaken for the 2017 Jewelry & Engagement Study by popular wedding planner The Knot, the average spend on engagement rings is $6,351, up 25 percent from 2011 ($5,095).
Ashley Davis of National Jeweler reports from JCK Las Vegas on the findings of a survey conducted by WeddingWire, an online wedding marketplace: essentially there seems to be a disconnect between the buyer and the receiver regarding the criteria modern couples use to shop for engagement rings. The proposer’s main concern is the quality of the stone, as the focus is on enduring value; the receiver valued the design and setting above all else, with quality and size ranking fifth and sixth respectively.
What do Millennials want? A question the entire diamond trade has been posing. Millennials are obsessed with the concept of individualism and crafting a unique persona, so why should selecting their engagement ring be any different? Many brides-to-be prefer receiving or even designing a ring that suits their unique personalities. Brilliant Earth, a sustainable jewelry company that offers a create-your-own option, analyzed engagement-ring shopping behavior in the U.S.
According to Harper's Bazaar, this is currently the most popular engagement ring on Pinterest, earning some 63,000 pins. Created by Raymond Lee Jewelers, "it features (.45-carat) princess-cut diamond accents around a dazzling, white-gold centrepiece." It is currently on sale for $8,095 (about £6,200).
Lisa Du for Bloomberg: With the summer wedding season in full swing, the most important prop - a diamond ring - is the leading issue for couples planning to tie the knot. A one-carat diamond costs the equivalent of eight weeks' salary, or about $7,300, for the average American worker as of last month.
Internet loose diamonds and jewelry retailer Blue Nile reported a slight decline in sales of 3.2% in its first fiscal quarter due to a drop in engagement ring sales and a “challenging environment” overall. It posted revenues down to $103.1 million, on the back U.S. sales of engagement jewelry dropping 7%. The seller's profits plunged 9% to $1.1 million, but was more upbeat about its second quarter when it expects sales of $114 million to $117 million which would be a 3% rise on last year. Sales in fiscal year 2016 will also show a 3% increase to between $465 million to $495 million.
Starting off with some of the more outlandish comments thrown out by presidential hopefuls, jewelry industry consultant Ben Janowski looks at the impact of changes to come on the economy and the jewelry business in particular. The middle class is shrinking as the number of well-paying jobs decline. "The substantial decline of the middle class, abetted by the economy's shift from manufacturing the services, has stalled the US jewelry business. For some 20 years or so, US jewelry business has stayed at about $30 billion a year, in spite of steadily rising material costs.
Mode Magazine's 100 Years of Fashion series takes a trip down fashion’s memory lane, revisiting the biggest style trends from 1915 to today, one decade at a time. This video presents 100 years of engagement rings: "Emerald cut, art deco, solitaire, princess cut, halo—engagement rings are as unique as the brides who wear them. Follow along as we recap a century's worth of engagement-ring styles."
In their latest "Diamond Dialogue", JCK's Rob Bates finds out how the story behind an engagement ring plays a role in its value from Anne Bowers, an associate professor of strategy at the University of Toronto. Bowers, "recently published a fascinating study in Advances in Strategic Management looking at how consumers value an engagement ring of a divorced couple.
"Jewelry purchases often mark major life events, most notably engagement and marriage. Millennials are postponing marrying until later in life, leading to a decline in weddings over the last 15 years. However, a larger population of 20-39 year old people in upcoming years should serve as an offset to the wedding rate decline. Assuming the rate of weddings continues to fall by 0.7% over the next six years, weddings should remain relatively flat.
Under the motto, "If you want it done right, do it yourself", Belgian publication Flair Magazine has launched an "Ask him to marry you" campaign to encourage women to reverse traditional roles and propose to their partners. It will award a $2,500 diamond engagment ring, donated by the Antwerp World Diamond Centre, to the most original marriage proposal.
An Australian man is giving away a diamond ring to a deserving couple after his ex-fiancée returned it when they broke up. The anonymous donor wrote on social media site Reddit: “I have decided to give away my old engagement ring. I have only heard horror stories of people trying to sell their rings and being insulted with sub-par offers from pawn shops, jewelers etc. and thought I would attempt to pass it on to a deserving couple.” The ring features a diamond-encrusted band with a round-cut diamond in a halo setting, JCK reported.
Facebook knows about relationships due to its users' 'relationship status' function. When any of its 1.4 billion users moves in or out of a relationship, Facebook knows. Of the 156 million users in the United States 2.6 million changed their status to “engaged” last year, reports The Jewelers Blog. Turns out the most popular days for getting down on bended knee are Christmas Eve, Christmas Day, New Year’s Day and Valentine’s Day, meaning that, ironically, the day everyone assumes to be the most romantic for proposals actually come in fourth.
A brilliant advert for Long's Jewelers in Boston shows a young couple apparently taking a selfie, but in reality being dazzled by the diamond engagement ring the fiancée has just received. Check it out.