What Do Diamonds Cost?
Guys who are ready to ask for a woman’s hand in marriage will inevitably attempt to figure out how much money they should spend on a diamond engagement ring, what the diamond will cost them and whether they will be able to afford a diamond engagement ring for their fiance. Most people have heard the expression that diamond engagement rings cost two months’ salary.
Where did the two months of salary idea come from?
The origin of the two months’ salary began with DeBeers, the largest diamond producer and diamond marketer in the world. In 1947, DeBeers decided to promote diamonds following the depressed wartime market. DeBeers launched a marketing campaign with a New York advertising firm. A copywriter penned the famous slogan “A diamond is forever” that is now synonymous with Diamonds.
De Beers wanted to bring diamonds to the masses, make them seem more affordable, rather than have them just for sold to the wealthy and select few. Accordingly, the price of a diamond for an engagement ring was set at approximately two months of salary.
This was a concept that everyone could understand, it was aimed at the groom-to-be and therefore made buying a diamond for an engagement ring achievable no matter whatever his salary was. No longer did people think of diamonds as being something which they could never afford, they now had a figure to relate to in simple terms - two months salary.
The two months salary became the norm and in the mind of the groom it was the predetermined acceptable price for a diamond engagement ring. As a general guide usually grooms spend bewteen 10 - 20% of their annual salary on a diamond engagement ring.
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