Study Shows Record $6.4 Billion to be Spent on Jewelry: Valentine’s Day

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new study found Wisconsin is the No. 40 least expensive state for engagement rings averaging $6,336 per ring.

A record $6.4 billion is projected to be spent on jewelry this Valentine’s day as an unprecedented number of Americans prepare to propose.  Many last-minute ring shoppers do not know how much to spend or what size and style they should buy.

Rare Carat – an online diamond marketplace — today released a study on the Most & Least Expensive States for Engagement Rings after analyzing data from 28 million users.

Additional Key Findings:

 

  • 10 Most Expensive States: 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; and Rhode Island: $8,787

 

  • Most Popular Shape: Round (40%), cushion and oval (15%), princess (8%)

 

  • Most Popular Size: 1 Carat (15.8%), 2 Carat (10.7%), 1.5 Carat (10.2%)

 

  • Most Popular Color: G (15.6%), H (15.4%), K (14.9%)

 

  • Most Popular Clarity: VS2 (19.5%), SI2 (19.2%), VS1 (16.7%)

 

  • 10 Least Expensive States: South Dakota: $4,923Montana: $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

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David Keech
Author: David Keech

David Keech is a retired teacher and works as a sportswriter, sports official and as an educational consultant. He has reported on amateur sports since 2011, known as 'KeechDaVoice.' David can be reached at [email protected]