Price

The price for an engagement ring can vary considerably. Usually, they can be found within the range of a few hundred dollars to several hundred thousand dollars. Price varies by the material used, the value of the diamond, and retailer. A conventional buying price ranging from two to three months wages for a ring guideline originated from De Beers marketing materials in the early 20th century, in an effort to increase the sale of diamonds.[1][2]

When shopping for rings with one or more diamonds, the price can depend significantly on the carat weight, color, clarity and cut of the diamond, otherwise known as gemological characteristics of the diamond. While less frequent, the practice of substituting other gemstones such as sapphires, rubies, moissanite, emeralds, etc occurs to either reduce the price of the ring or to make it more unique.

Selection

In some countries the tradition has been for the future groom to privately select and purchase a ring, to be presented to his desired bride when he proposes.

With more and more couples living together prior to marriage, however, it is becoming more common for a couple to select the engagement ring while purchasing a wedding band together. In countries where both partners wear engagement rings, the matching rings tend to be purchased together.[3]

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