You have finally taken the plunge and proposed to your girlfriend, leaving you with the question: “How much is generally spent on a wedding ring?” Wedding rings can be purchased for less than $100 on the low-end, while prices can soar into the thousands on the high-end. In the United States, the average dollar amount spent on a wedding ring is $1033 according to the Bridal Association of America. There are a number of factors that go into determining how much is spent on a wedding ring. The metal content, intricacy of the design, and whether the ring contains diamonds are all considerations that affect the numbers on the price tag.
Gold is the most common metal of choice. Buying a plain gold wedding band is cost effective for buyers on a budget. The cost of a small one to three millimeter band will be on the lower end of the national average. A more substantial men’s band, usually between six to eight millimeters wide, will be closer to the $1000 mark. Platinum is another popular choice, but is more expensive than gold. Since the values of gold and platinum are determined by weight, the heaver the ring, the more it will cost. A platinum ring will cost about twice as much as a comparable gold ring.
Intricately designed wedding rings command a higher price as well. The time and work that is involved in designing and manufacturing a ring with ornate carvings and patterns increases the jeweler’s cost, therefore increasing the retail value. On average, about 50% more is spent on a wedding ring with intricate details.
When shopping for a wedding ring with diamonds, it is possible to buy one for a price that is well within the national average. The total carat weight and quality of diamonds are the two biggest factors that determine how much is spent on a wedding ring with diamonds. A ring containing small diamonds of good quality will range in price between $400 and $800.
No matter your budget, it is important to take the above factors into consideration before you begin shopping. Armed with a bit of knowledge, you can be confident in your ability to buy the ring of your fiances dreams. Knowing how much is spent on a wedding ring helps you plan ahead for a very important purchase.
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