How much should one expect to pay for a diamond engagement ring? While nuptial preparations are bound by traditions, oddly, there are no specific rules governing the cost of an engagement ring.
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An Unexpected Twist in History
Unlike many wedding customs, engagement rings are a fairly recent addition. Their origin is far from romantic, as they were seldom presented, even among the elite. The tradition of presenting an engagement ring, adorned with a diamond, came to life in the thirties, born from the strategic minds at De Beers. This established diamond cartel cleverly crafted a new market by suggesting the cost of such a ring should equate to a month's salary.
The Rise of Diamond Prices
Its success spurred the rise of diamond prices, especially from the eighties, as men around the world sought diamond traders for these precious stones. De Beers' marketing strategy then evolved, suggesting that an engagement ring should cost two months' salary, asserting that it symbolises the future lifestyle of the prospective bride.
How Much Now?
This marketing strategy begs the question: today, how much do we actually pay for an engagement ring? According to a study by British insurer Liverpool Victoria, the average cost is around 1500 euros, roughly equivalent to three weeks’ pay for most. Americans, however, are willing to invest more. Bain & Company report that an average American pays double, equating to half a month's salary.
The True Investment
Beyond these hard figures lies a more tender reality. An engagement ring, particularly an exquisite, handcrafted piece from Valquère, resonates as an investment of a unique nature. It isn't merely an investment measured in euros but an investment in love – a testament to Valquère's brand essence; statement made. To put a price on such a profound symbol might just be impossible.
Fabienne Rauw
- Valquère Antwerp
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