11 Men Reveal How Much They REALLY Spent On Their Fiancé's Engagement Ring

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how much money men spend on engagement rings
Love

Some of these rings cost a pretty penny.

Obviously, we know when it comes to matters of love and marriage, it's the thought that counts. Of course, we appreciate that.

That said, when we look at a friend's ring, we can't help but wonder where they got it and how much it costs. Right? We're not shallow, we're just human. So, there's a certain level of pissing contest (for lack of a better phrase) that comes into play with engagement rings. But who is to say where the bar is set?

"I have helped clients with a variety of budgets create engagement rings, from around $1,000 all the way up to the million dollar mark. But the average spent is around $5,000 to $6,000 for a diamond engagement ring these days. Of course, now there is a trend with colored center stones instead of diamonds and depending on the stone and the setting it can cost a lot less," says Dan Moran of Concierge Diamonds, Inc.

So there seems to be no right number, we guess? Still, here's how much money men spend on engagement rings.

1. $1,100

"I took my fiance ring shopping 13 years ago and when she saw a heart shaped solitaire, she couldn't see anything else. I suggested that, for $1,100, I could get her a round solitaire twice that size, but she refused. She wouldn't even let the jeweler keep the ring a day or two to size it for her. We left with it that night and she's never taken it off! (It's still not sized.) Although I hadn't exactly expected to spend that much, I can't imagine anything more perfect. She's in my heart forever just like that heart-shaped ring is on her finger forever."

2. $4,500

"I was engaged once before I got married. My father knew people in the diamond district and I had about 5K to spend. This was money I won in a lawsuit after my car accident where I damaged my left knee in 1997. The first ring I bought had a retail value of $7,500 and I was able to get it for the wholesale price of $4,500, including a written appraisal of its full retail price. When that ended I put the ring away and let it sit. When I got engaged again I was able to go back to the original jeweler and swap the old ring with all the paperwork for a new one that my wife chose. And that's how I saved 3 grand on a ring."

3. $35,000

"I had always been told to spend 3 months salary on a ring by multiple people. They called it the 3-month rule. Problem was, I was getting married during the '.com' boom and 3 months salary would have been well into 6 figures. I decided that was crazy, so I set a budget of $35,000 and had a custom ring made at that budget. To save money, I bought the diamond 'wholesale' and had a custom jeweler make the ring and set the diamond."

4. We never bought one.

"My wife and I were living together for a few years at the time and we finally decided to get married. We didn't have much money for a ring, so when we were shopping for one, we also went to several new and used jewelry stores. At one store I just started laughing. The salesperson asked me why I was laughing. I said, 'The hard part is finding the right person to marry. The ring doesn't mean a thing.'"

5. $99.99

"My fiance and I are getting married at the end of this month and I spent exactly $99.99 on her ring. I had envisioned buying her a traditional center stone (one karat plus), especially after working in the diamond and jewelry industry throughout college. She let me know that she wanted a simple crystal band that she would feel comfortable wearing for all of her activities throughout a day — exercise, work, and just around the house. She shared that the price and value of the ring help her feel more comfortable about wearing it every day, even when our financial situation would have been able to handle a bigger ticket item."

6. $800

"I was only 22 and bought an engagement ring for about $800 which was a lot of money (this was over 30 years ago) as I was just starting my career. I was working late and came home to our one bedroom apartment. We were living together for six months at that point. She was asleep as it was close to midnight. I quietly undressed but kept my underwear on. I tucked the engagement ring in a strategic point in my underwear. I came into bed and gently and quietly woke her up. Some small talk ensued and then both feeling amorous I asked her to reach into my underwear. After feeling around a bit, lo and behold she found the engagement ring! It sure felt better than being on my knees. She was pleasantly surprised and pleased she felt something rock hard: a diamond ring!"

7. $25,000

"One-quarter of what I spent on the divorce: 25k vs. 100k!"

8. $0

"I'm lucky that my aunt saved my beloved grandmother's ring for whenever I needed it. I hadn't seen it in years and had prepared my now-wife for it being a modest size whenever the time came. But once I saw it, I realized my grandfather must have upgraded it at some point. The ring was appraised at 13K, but honestly, it holds a lot more value because of how much I loved my grandmother."

9. One week's salary

"The idea that a ring must cost a certain amount of money or love isn't real was invented by De Beers a hundred years ago and we all fell for it. I spent a week's salary on the ring but, more importantly, several days planning the gesture. We went to the Cherry Blossom Festival in the Botanical Gardens, dressed in our Japanese-style clothing (not nearly as many people did this back then). I made sure all our friends were there, and this was a natural excuse for people to start taking pictures. When it came time to photograph the cute couple, that was my friend's cue to start shaking the tree so the sakura petals would start falling on us. That was when I got the ring out and got down on one knee."

10. $5

"I don't understand why she won't let go of this. It's been 6 years."

11. $15,000

"An engagement ring is something matching a personal budget. But I will say $15,000 is an average of all my friends around (except those who have a lot more money). Also, the golden rule is to choose the quality rather than the size. Why? Because we can upgrade the ring at any time to get a bigger one."

 

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