“Fancy Studs” will feature revamped branding and a new lab-grown diamond fine jewelry collection.
Another Survey Shows Dip in Engagement Ring Spending
The Knot says couples spent about 2 percent less on their engagement rings in 2018.
New York—Weddings with a personal flair were all the rage in 2018, but U.S. couples spent less on a few key elements including the engagement ring, data from The Knot shows.
On Thursday—Valentine’s Day—the popular wedding planning website released the results of the 2018 Real Weddings Study, which surveyed nearly 14,000 couples in the United States who got married last year.
Overall, the average cost of a wedding, excluding the honeymoon, was $33,931, up about 2 percent compared with $33,391 in 2017. (Just to put it in perspective, $32,500 could get you a brand-new 2019 Mercedes-Benz A 220 Sedan.)
The most expensive place to get married was Manhattan with the average Big Apple wedding costing $96,910. The least expensive place was Idaho, where the average wedding runs around $16,366.
The average couple spent $5,680 on an engagement ring, down about 2 percent compared with $5,764 in 2017.
The bride’s wedding band cost an average of $1,078, nearly double the $584 average price tag of the groom’s wedding band.
The Wedding Report, a Tucson-based research company that tracks and forecasts spending and trends in the wedding industry, reported similar findings on engagement ring spending earlier this week, noting about a 1 percent drop.
Outside of jewelry, couples cut costs on the cake, spending $528 on average, about 2 percent less than $540 a year ago. Around 58 percent of couples celebrated with a traditional tiered wedding cake, while others opted for cupcakes or cookies.
The average amount spent on invitations also dropped, declining about 5 percent from $408 to $386.
There were a few areas where couples spent more money, including on the dress and on event planners.
The average bride spent $1,631 on the dress, about an 8 percent jump compared with $1,509 last year.
Couples spent an average of $2,002 on an event planner, a close to 1 percent increase compared with $1,988 in 2017. Around 29 percent of couples hired a professional planner to craft the perfect day.
Another interesting note from The Knot’s 2018 Real Weddings Study: Nearly 59 percent of Generation Z respondents—Gen Z is the group that follows the millennials—said they will likely include a charity on their wedding registry as a way of giving back.
The Latest
Nivoda and Liquid Diamonds both have big plans for the new capital.
The 2024-2025 edition features new colors and styles, as well as storytelling elements.
GIA®’s most advanced microscope has new features to optimize greater precision and comfort.
From moringa to ecotourism in the Okavango Delta, the country and its leaders are exploring how Botswana can diversify its economy.
The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
The announcement coincided with its full-year results, with growth driven by its jewelry brands.
Despite the rising prices, consumers continue to seek out the precious metal.
Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.