| Article:
Three Months Salary on a Ring...Are we NUTS!
Who has this kind of money, discipline and spare cash lying around? And not only that... who wants to wear a potential new car, house deposit or international holiday around their finger?
Retail jewelers recommend to budget at least 2-3 months of salary for your engagement ring. This stems from DeBeers, the world largest diamond mine owner, recommending that this be the typical benchmark one should strive to.
But it begs the question of why?
With the average salary in Australia edging on $50,000 per year, this equated to over $8,000 after tax that we are "guided" to budget. The average cost of an engagement ring in retail outlets is $4,500, nearly half the price of the so-called recommended price, so you could say they are cheap?..
HHmmmm, remind me again why they are valued so high?
Did you know an equivalent diamond used for industrial purposes is, on average, 20 times cheaper per carat than a diamond in a Jewellery store?
OK, so they have to cut, set and polish a diamond for a ring, it could make sense... or does it? Is it acceptable that a diamond that costs US$5-$20 per carat for industrial purposes can cost anywhere up to US$225 per carrot directly from the mine for gem quality? And the question is also posed...
If they are $225us a carat at the mine, why do I have to pay $4,500 on average for my engagement ring?
Let’s get serious. No "average" Australian has a spare $8,000 to spend on a piece of Jewellery, no matter how important. This is crazy. So how do we get around the social expectation of the traditional engagement ring?
| | Tips for selecting a
DeNagy Engagement Ring:
* Choose a style that suits your lifestyle
* Choose a size that is both stunning and sophisticated
* Choose a ring that is unique and emulates your personality
* Give yourself a break... You deserve to choose something that you love, it doesn’t matter what others think
* Save your money for items that don't have an alternative to cut costs - such as your honeymoon, photographer, or reception package
***NEW***
DOWNLOAD OUR ENGAGEMENT RING BUDGET CALCULATOR HERE
If you would like a home consultation to help choose the cut, carat, size and setting for your engagement, wedding or anniversary rings, please contact DeNagy Collections. | |