Are diamonds taking a backseat to the latest trend in engagement rings? As the clock struck midnight on New Year’s Eve, gemstones took the world by storm, showering 2018 with colorful engagement rings for all.
From emeralds to rubies, and of course the popular sapphire, gemstones have made a significant impact on the jewelry market. The rapid boom began when millennials started to dominate the bride-to-be population. Jewelers have been forced to redesign, incorporating gemstones into their engagement ring sets. Whether the gemstone is the main stone used or acts as an accent to the core diamond, the addition of color into engagement rings has become a popular choice. Refinery 29 claims that the recent preference change from diamonds to gemstones has been prompted by the millenials’ desires to spend their money on other things, such as housing, travel, and entertainment.
The average engagement ring, on average, cost $6,351 in 2017. Although the diamond isn’t going anywhere, the trendy and less expensive option of a gemstone ring is not going anywhere soon. Not only does the non-traditional gemstone cost, on average, $1,000 per carat, compared to the average $4575 for a one-carat diamond, the colored stones are clearly the most cost-effective choice. The pop of color is not loved by everyone, but many free-spirited millennials have embraced the unique style of a gemstone.
Not all gemstones are inexpensive, though. Celebrities like Blake Lively, Jackie Kennedy and Kate Middleton have unconventional rings with a costly price tag. Blake Lively’s oval-cut pink diamond cost Ryan Reynolds a whopping $2 million. Kate Middleton’s hand is adorned by the lovely Princess Diana’s 1981 diamond and sapphire engagement ring. Although the ring itself is only appraised for half a million dollars, the true value of the iconic ring is priceless.
Brides Magazine claims that gemstones, emeralds in particular, have become the eco-friendly choice, as well. Whether you are intentionally making an environmentally conscious decision, or just appreciate the visual appeal of a gemstone ring, the use of gemstones over diamonds has helped contribute to a safer ecosystem.
The unique appearance of a gemstone adds personality and flare to the traditional sign of love and commitment. While a variety of diamond cuts and shapes gain in popularity while others fade away, the addition of gemstones into the mix gives jewelers and their customers a slew of possibilities to choose from. As if it wasn’t hard enough to pick out an engagement ring before, now grooms-to-be around the world have to factor in the element of gemstones.
What do you think? Do we stick to tradition or should we push the boundaries of what’s expected in an engagement ring? Let us know your thoughts on the gemstone/diamond debate!