Engagement rings are a time-honored tradition that represent the love and commitment you have for your new life partner. But as with anything that’s been around since the Roman Empire, there are some pretty interesting facts about these gorgeous rings!
1. The introduction of diamonds
The first diamond engagement ring was given by Archduke Maximillian of Austria when he proposed to Mary of Burgundy in 1477. The glamorous style immediately started a trend amongst the elite, as diamonds were few and far between during the time.
2. The Great Depression
Someone who was in their early 20s during the Great Depression might not have had an engagement ring. During this time, the last thing people were concerned about was diamonds or proposals. All industries took a big hit, but particularly the diamond industry.
3. An unforgettable slogan
If you’ve heard the phrase, “a diamond is forever” then you’re witnessing first hand the power of good marketing. The slogan was created in the late 1930s when diamond company De Beers was searching desperately for a way to bring back the diamond engagement ring. In just four years, it helped their company increase profits by 55%.
4. Three months motto
When trying to figure out just how much to spend on an engagement ring, “three months salary” might pop into your head. Don’t let it linger there too long. The idea was also crafted by mined diamond company De Beers, to get men to spend more money on a ring. Brilliant but unnecessary, to say the least. The average today is actually more along the lines of 2 weeks salary.
5. The average
On average, couples are spending $5,000 on an engagement ring.
6. A collaborative effort
Today, more and more couples are picking out a ring together. Wedding Wire’s 2019 Newlywed Report states that 20% of engagement rings are picked out by a pair, rather than just one partner.
7. The ring
Although 71% of engagement rings feature some sort of diamond as the main stone, there’s a growing population of couples purchasing lab-grown diamonds. This ethical and eco-friendly trend is spreading like wildfire amongst the millennial generation.
8. When to pop the question
What’s more romantic than a proposal on a snowy December night? Or better yet, a small ring box sitting under the Christmas tree. Wedding Wire also found that 19% of proposals take place in December, with 1 out of every 3 taking place at home.
9. In-store vs. online
There’s a growing popularity for buying an engagement ring online instead of in-store. Not only does it simplify the process, but it keeps couples away from the annoying salespeople at the mall (which are dying on their own). Plus, many digitally native companies offer much better perks, like longer return periods.
10. The proposal
Millennials are big on the environment, but they’re also big on sharing their life experiences. Within a few hours, it was found that 64% shared their proposal on some social media platform.
The takeaway? Spend what you want on a ring, but there’s a very good chance that hundreds or thousands of people will see it on Instagram.
Our tip? Go with a man-made diamond and get a rock that’s 20-40% larger for the same price you’d spend on a mined one.
Cover photo Jen Theodore on Unsplash
This article is a sponsored collaboration with Clean Origin.