Getting engaged is one of the biggest moments in anyone’s life - and while plenty of time is spent planning the perfect moment, in the perfect place, to ask the person you love to share the rest of their life with you, often the toughest question facing a prospective proposer is the cost of the coveted ring.
New data has shown that people in Edinburgh are among the highest spenders in the UK when it comes to splashing out on a rock, with the Capital’s couples forking out an eye-watering £6,980.
The spend, which works out at a quarter of the city’s average £28,100 salary (or three months’ wages), puts the city’s lovers among the biggest spenders in the UK.
How does the rest of the UK compare?
Romantics in London were willing to splash the most cash, paying an average of £8,000 for an engagement ring, while Oxford was second in the list at £7,600, and Edinburgh third.
Regions spending the least amount of money on engagement rings were found mostly in the north of England, with Burnley couples spending just £347 - the least out of the whole UK, followed by Wigan and Bradford.
Peterborough was one of the more generous towns, coming eighth out of the big spenders, but having a modest average salary of £21,500 and spending on average £4,200 on engagement rings. Wigan is one of the most frugal cities, with residents spending just £600 on engagement rings despite earning an average salary of £27,283.
The average cost of a wedding ring in the UK in 2018 was £1,483, with the old tradition of spending two months salary on the lifelong investment out the window in these days of austerity and Brexit uncertainty. In 2017, the year that delivered the Brexit verdict, the average spend was just £785.
Increasingly, couples are considering other factors such as where the diamond in the ring may have come from, and whether they should go for a diamond at all.
The new data was compiled by national antique silverware and jewellery outlet AC Silver, who analysed the price of engagement rings purchased through its site from customers across the UK over the past five years.
Andrew Campbell, founder of AC Silver said: “Much pressure is placed on individuals when planning a proposal, including finding the ‘perfect ring’.
“We believe wherever your location and whatever your budget, you should be able to treat your special someone to a stunning ring. Thankfully, long gone is the rule of having to spend the equivalent of two or three months salary to buy an engagement ring.
“Interestingly we have seen different spending habits across the UK. Buying an antique diamond significantly reduces the impact of precious stone mining and predominantly will ensure you gain the best value diamond or gemstone for your budget.”
London – £8,000 (£35,235)
Oxford – £7,600 (£29,495)
Edinburgh – £6,980 (£28,100)
Brighton – £6,442 (£25,356)
Bournemouth – £5,000 (£24,267)
Cambridge – £4,895 (£30,914)
Bath – £4,699 (£24,595)
Peterborough – £4,200 (£21,500)
Manchester – £4,125 (£32,500)
Salisbury – £3,988 (£24,127)
Burnley – £347 (£19,368)
Wigan – £600 (£27,283)
Bradford – £654 (£20,991)
Barnsley – £730 (£24,449)
Blackburn – £849 (£20.082)
Sunderland – £900 (£20,918)
Newcastle – £935 (£25,033)
Newport – £940 (£22,893)
Gloucester – £965 (£24,212)
Belfast – £995 (£25,579)