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What to know before buying engagement ring

Sarah Jacobs

  • US consumers spend an average of $6,351 on an engagement ring.
  • Aside from a diamond’s size, various factors go into the pricing of an engagement ring.
  • A diamond’s cut, carat, color, and clarity determine its price.

Online diamond retailer Ritani knows exactly what its customers are looking for when they visit the site: an engagement ring.

“Not only is this [ring] generally [our customer’s] largest purchase to date, it’s typically the millennial male, and he has no idea what he’s doing,” Ritani’s Vice President of Marketing, Mark Keeney told Business Insider during a visit to their Manhattan diamond factory.

We toured the diamond factory to find out everything you need to know when it comes to purchasing a diamond engagement ring. Below, see how much people are spending, the most popular cuts, settings, and how the “four C’s” can affect price.

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