The Symbol Of An Engagement Ring And Why Its Value Matters

An engagement ring carries more than just a diamond–it bears a message saying love also means a lifelong responsibility and commitment.

When a couple decides to marry each other, there is more to the relationship than just love. Proposing means you’re choosing each other in life’s many aspects, from the honeymoon stage of your love up to life’s messy bits. Upon taking the next step, the first thing one considers is the universal symbol of offering a lifelong commitment to one’s partner: an engagement ring. 

READ ALSO: Put A Ring On It: 5 Most Expensive Celebrity Engagement Rings In The World

The history behind an engagement ring

Using an engagement ring dates back to 1477, where Archduke Maximillian of Austria commissioned the first ever ring. He gave his betrothed, Mary of Burgundy, a ring with flat diamond pieces in an M shape. This led to Europeans adding gems on their jewelries, and even saw the “posey rings” with accompanying love poems rampant during the Middle Ages.

South Africa gave rise to diamonds during its discovery in the continent. Cecil Rhodes and other investors founded the DeBeers Mining Company in 1880, and eventually spearheaded 90 percent of the world’s diamond production during that time. The early 1940s bore witness to what we know now as engagement rings

The American Gem Society remarked that diamonds “still signify” the celebration of a union and cherished memories.

Varying views on the value of an engagement ring

Discussing and addressing the difficult aspects of married life is essential before committing to the love of your life. Taking care of your spouse goes hand in hand with marriage as much as love is the most important aspect of all. Buying the ring comes after determining that you’re more than ready to take the next step.

There are varying views when it comes to how one should spend on purchasing an engagement ring. For example, a 2016 report by Cosmopolitan Philippines revealed that men who have proposed spent around P30,000 to P80,000 (estimated between $530 to $1,400) for a ring.

Globally, costs are definitely higher. Hitched UK reported that their 2019 survey divulged that the average ring purchase at the time was £2,419 or more than $3,000. Meanwhile, a 2024 research by The Knot discovered that the average ring currently costs around $5,500, but their respondents realistically spend between $1,000 to $4,000.

A white gold engagement ring with a 0.50-carat-diamond
A white gold engagement ring with a 0.50-carat-diamond/Photo from Karat World

Martin Busch Jewelers said, however, that one doesn’t have to go broke to buy an engagement ring. Filipinos can avail engagement rings from reputable jewelers without largely breaking the bank, according to GMA News.

There are diamond alternatives if you want to reserve a huge chunk of money for the wedding or life after marriage. One can opt for birthstone or precious gemstone rings, vintage rings, a lower-carat diamond, lab grown diamonds, or even better: an heirloom ring, passed across generations. 

Love is still the center

Some people opt on updating their engagement rings due to numerous reasons. Jewel supplier Borsheims said there is no time-sensitive reason to do it, but usually couples update rings to change the center stone, adding stone accents, changing the band, or upgrading the carat. 

Meanwhile, Frank Jewelers mentioned that upgrading an engagement ring depends on the couple as their preferences may change over time. An important event makes the change significant too or if the current ring just doesn’t represent your personality anymore.

A stunning 1.58-carat pear-shaped engagement ring
A stunning 1.58-carat pear-shaped engagement ring/Photo from Gear Jewellers

The thing is, while we’re discussing the practical side of buying the symbol of committing to one person, we have to take into account the idealistic side too. Love is the center of a lifelong commitment. This should always be the number one reason behind proposing and accepting the proposal. Embrace a life full of love with someone who makes you happy, content, and fulfilled.

Banner photo from Lucce Rings.

Order your print copy of this month's LIFESTYLE ASIA Magazine:
Download this month's LIFESTYLE ASIA digital copy from:
Subscribe via [email protected]