Below is a research study that was done by the International Diamond Exchange.
Young men spend an average of one month’s salary on the engagement ring for their betrothed, based on recently released figures from the U.S. Department of Commerce and the
The typical first-time groom in American is 27.1 years old and earns about $38,500 annually, according to newly released figures from the U.S. Department of Commerce. The Diamond Information Center (DIC) recently reported that the average ticket for a diamond engagement ring (DER) in the
Depending on your source, jewelers typically recommend that a groom should spend at least two months’ salary on a diamond engagement ring, though recently some jewelers have upped that recommendation to three months’ salary.
The following graph illustrates the recent trend in the average ticket for a diamond engagement ring in the
Diamond Engagement Ring Average Ticket Jumps in 2006
During 2006, the average amount an American shopper spent on a diamond engagement ring jumped by more than 16 percent to $3,200 from the prior year’s $2,750. While research conducted by IDEX Online Research confirms that the average ticket for a diamond engagement ring rose, some of the increase in value reported by the
The percentage change in the average ticket for a diamond engagement ring in the
While the overall average ticket for the diamond engagement ring market showed significant growth in 2006, not all merchants registered gains. Tiffany & Co., the world-renowned jeweler, said its average diamond engagement ring ticket was $10,400 in 2006, flat with 2005.
Last year, diamond engagement ring sales were $6.2 billion in the
The table on the left summarizes new and restated numbers for the
More Brides Receive A Diamond Engagement Ring
Diamond engagement ring penetration continues to rise. While the DIC did not formally release diamond engagement ring penetration for 2006, IDEX Online Research estimates that 84 percent of all brides-to-be received a diamond engagement ring, up from 83 percent in the prior year. Historically, just over 80 percent of all brides-to-be – or about four of five brides – received a diamond engagement ring.
The following graph illustrates the trend in engagement ring penetration among brides-to-be in the