Question: It’s nearly spring, when a lot of people think of getting married. First, though, comes the proposal. How much should someone with a modest budget figure on spending for an engagement ring?
Answer: The long-standing guideline originally promoted by (diamond jeweler) De Beers was approximately two months’ salary. However, I have always advised my clients that the amount should be the range they are comfortable spending. Everyone, despite their income, has varying degrees of financial obligations.
Q: Is the wedding band usually included as a set when buying the engagement ring, or is that a separate price and, if so, how much would the wedding band cost?
A: A wedding set is an engagement ring and a matching wedding band that are priced as a complete set. However, most of our rings are priced individually, so we can offer flexibility of combinations and pricing.
Q: What factors differentiate the cost of a ring?
A: Ring pricing is subject to the type of metal used, weight of the metal, workmanship, level of intricacy, accent diamonds and other types of gemstones. However, the price of most engagement rings are determined largely by the size of the center diamond and its quality.
Q: If you don’t know the woman’s ring size, what can you do?
A: If it is to be a surprise, you can present the ring in its original size and have her come in to the store to have an exact measurement done so we can custom-size the ring to her finger. Another way is ask her best friend to do research for you.
Q: Can an engagement ring be returned if the woman says no or the wedding is called off?
A: We have a 30-day refund policy on items that were not altered or special-ordered.
Q: Is the woman obligated to return the ring to the man if there is no wedding?
A: There are so many factors weighing on this decision. However, if it’s been a short-term relationship and she was the one to end the relationship, returning the ring may be the right thing to do.
Q: At what point should the woman buy the man a wedding ring?
A: The best time frame to purchase his wedding band would be no later than six months before the wedding. Some wedding bands may take six weeks to be special-ordered, and should any detail not be right, there would be time for correction.
Q: What is the best way to shop for a ring?
A: Do research on the Internet as a couple, look at websites of different jewelers, compare designs and prices, find jewelers that have a good reputation, ask for recommendations from family and friends. Visit the top three choices.
Q: When purchasing a ring, is a down payment required, and what type of payment plan is available?
A: We have several attractive financing options with payments up to 36 months. We also have a 12-month, no-interest plan.
Down payment requirements will depend on the program and credit standing.
