Wondering how much to spend on an engagement ring? A new study shows Arizona residents buy the No. 17 most expensive diamond rings in America, spending an average of $8,307.
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New York ranks No. 1 for buying the most expensive diamond rings, spending $11,434 and South Dakota ranks last spending $4,923.
Buying the perfect engagement ring is stressful. You want to make your fiancé happy, get the most value for your money, and have enough money left over to start your lives together. Unfortunately, many people do not know where to begin, how much to spend, or what size and shape to get.
Rare Carat – an online diamond marketplace — today released a study on the State of Diamond Rings in America in 2023 after analyzing data and purchases from 38 million searches and 22 million users.
The results provide shoppers with information to guide them in their search. Round is the most popular shape (40%), followed by Cushion and Oval (15%). The most common size is 1 to 1.09 Carat (15.8%) followed by 2 to 2.09 Carat (10.7%). The most common color and clarity are G and VS2, respectively.
Top 10 states for buying most expensive diamond rings:
- New York: $11,434
- California: $10,582
- New Jersey: $10,445
- Connecticut: $9,744
- Massachusetts: $9,636
- Nevada: $9,458
- Florida: $9,298
- Texas: $8,915
- Illinois: $8,801
- Rhode Island: $8,787
Bottom 10 states:
- South Dakota: $4,923
- Montana: $5,323
- Maine: $5,761
- North Dakota: $5,808
- Wyoming: $5,904
- Oregon: $6,057
- Iowa: $6,163
- Utah: $6,243
- Wisconsin: $6,336
- Mississippi: $6,554
