Is romance dead? Spending on engagement rings falls

21 February 2018

The amount users spend on engagement rings has fallen again this year, our latest poll results reveal.

With Valentine’s Day this month, we asked how much did you/would you spend on an engagement ring?

Most people (43%) selected the £100 to £1,000 option – an increase from the 36% who selected this in our 2017 poll, and up from the 41% who spent this amount in 2016.

Meanwhile, fewer people are spending more than £1,000. Our 2018 poll reveals that 37% of people spent more than £1,000. This is broken down into 19% who spent £1,001 to £2,000, and 18% spent £2,001 plus.

In comparison, nearly half of people (47%) who answered our 2017 and 2016 poll spent more than £1,000. In 2017, this was broken down into 22% who spent between £1,001 and £2,000 in 2017, and a quarter of people (25%) who spent £2,001. While in 2016, the split was 21% on rings worth £1,000 to £2,000 and 26% who spend £2,001 plus.

However, fewer people spent under £100 on a ring this year at 15% compared to 17% last year, although this was still up on the 12% in 2016.  

Of course, we do appreciate that monetary values have changed over time, with one reader commenting: "Pity you didn't ask when [the ring was bought] mine was £7 10 shillings or £7.50. But that was in 1963 and was equal to two week's wages." 

According to tradition, suitors should spend three month’s wages on a ring for their beloved.

See the full 2018, 2017 and 2016 poll results below.



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