Marvelous Girl Has Moved!

More bling for your engagement ring dollar

Posted on: March 13, 2009

Photo by lifan
Photo by lifan

For those of you marvelous girls getting engaged this year, you might get a nice surprise when ring shopping.  According to industry research firm IBISWorld, the average price of a wedding ring will drop nine percent this year.

“With the unemployment rate rising and job security uncertain, people’s budgets are shrinking,” explained Toon van Beeck, senior industry analyst with IBISWorld.  ” They’re holding off on big purchases, such as engagement rings and wedding planning, which is lowering demand and subsequently price.”

Over 2009, IBISWorld estimates the average price of an engagement ring to fall to $3,000.  This is a sharp drop compared to 2007 when economic times were good and engagement rings were about $4,500.

When buying rings on a budget, many grooms are going to I Do Now I Don’t or to a diamond wholesaler.

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