Be My Very Expensive Valentine. . . ; Planning to Pop the Question Tomorrow? Remember That the Average Cost of an Engagement Ring Is Pounds 1,289

Summary

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Some romantic men will no doubt be planning to pop the question tomorrow, Valentine's Day. But romance often comes at a high price.

The average cost of an engagement ring last year was Pounds 1,289. The figure, from You amp; Your Wedding magazine, might be enough to give some buyers second thoughts. But the quality and price of diamond bands, still the favoured token of love for most engaged couples, varies dramatically. A buyer on a budget might not want to brag about it but he can buy a gold and diamond solitaire ring from Argos for a mere Pounds 199.99 - and there are even cheaper deals elsewhere. But if cachet and sparkle quality count, American jeweller Tiffany amp; Co offers engagement rings starting at Pounds 650 and spiralling to Pounds 965,000. Those who are really out to impress may consider French jeweller Cartier, with diamond rings from Pounds 2,300 for a 0.4 carat solitaire to several million pounds for rings with rare stones. The second-hand market may be more realistic for many buyers. Jean Ghika of auction house Bonhams says a new diamond ring bought from a store can lose up to two-thirds of its value because of the retail mark-up and other costs. Not surprisingly she says it makes sense to buy at auction. Bonhams holds a monthly sale of fine jewellery at its showroom in Knightsbridge, central London, and four sales for more expensive pieces during the year. The next big sale, on April 7 at the New Bond Street branch, features a 1.4 carat three-stone diamond ring, with an estimated price of Pounds 3,000 to Pounds 4,000, and a ten- carat diamond ring estimated at between Pounds 15,000 and Pounds 20,000. Bidders must remember that there will be an auctioneer's commission to pay, which is usually ten per cent.

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Be My Very Expensive Valentine. . . ; Planning to Pop the Question Tomorrow? Remember That the Average Cost of an Engagement Ring Is Pounds 1,289

And should the engagement ring be lost, the owner may shed more than tears if she has not got the right insurance cover. ...

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