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Research Reveals Average Amount UK Men Spend on Engagement Rings

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Research Reveals Average Amount UK Men Spend on Engagement Rings PR Newswire BIRMINGHAM, England, July 3, 2012 BIRMINGHAM, England, July 3, 2012 /PRNewswire/ -- Research into the buying habits of UK men has discovered the average amount budding husbands spend on an engagement ring for their bride-to-be.
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Research Reveals Average Amount UK Men Spend on Engagement Rings PR Newswire BIRMINGHAM, England, July 3, 2012
BIRMINGHA M,England,July 3, 2012/PRNewswire/ --Research into the buying habits of UK men has discovered the average amount budding husbands spend on an engagement ring for their bride-to-be. A ccordingto the results of the research, carried out by http://www.marlowsdiamonds.com, UK men spend an overall average of£1,329on an engagement ring. Men inNorthern Irelandare the biggest spenders, with an average of £1,874, followed closely by Scottish men, who spend an average of £1,816. Men inLondonspend only marginally less, with £1,681.91 standing as their average engagement ring budget.Walescame in as the region with the lowest figure at £603. However, the highest individual spend was £22,684 inDorset, with Dagenham,Essex, claiming the lowest at £558. For many years, there has been a widespread belief that a man should spend the equivalent of a month's salary on an engagement ring, yet research shows men have been breaking away from this in the past year. With a UK man's average salary now approaching £30,000*, the overall average spending price suggests men are actually paying well under a month's salary, after taxes and other deductions. In February, a survey by home insurance firm LV showed almost two-thirds of men now pay less than a month's salary**. Furthermore, less than 38 per cent of men tell their partner how much it cost, while 3 per cent confess to actually exaggerating the price. "The UK is clearly still facing tough economic times in the recession, so it comes as little surprise to see men now spending less on an engagement ring for their fiancée. On the bright side for men, women will now settle for cheaper engagement rings", Steven Beer, Managing Director for Marlow's Diamonds said. "Clearly, some men have been lucky enough to maintain higher budgets despite economic problems, whereas others now have to be more careful, maybe choosing to save money to pay for the wedding day itself, instead. In their defence, Beyoncé's 'Put a Ring on It' didn't specify a price-range". Below is a full breakdown of the average spending in each region:
 RegionSpend  NorthernIreland GBP1,874.00  ScotlandGBP1,816.87  LondonGBP1,681.91  EastMidlands GBP1,471.30  WestMidlands GBP1,436.43  Yorkshire& Humberside GBP1,356.78  NorthWest GBP1,295.65  SouthEast GBP1,278.64  NorthEast GBP1,215.78  SouthWest GBP971.08  EastGBP955.07  WalesGBP603.97
More details on the Marlow's blog: http://www.marlowsdiamonds.com/news/engagement-rings/average-engagement-ring-spend.html Sources: *PayScale.com ** The Daily Mail About Marlow's Diamond Engagement Rings: The Marlow family has been a fixture ofBirmingham'shistoric Jewellery Quarter for more than three generations, and has worked hard to establish itself as a top name in the manufacture and wholesale of high-class jewellery. Now esteemed as one of the country's leading specialists in certificated diamonds, they use one of the world's top independent laboratories and offer diamonds sourced from around the world. With GIA- and IGI-certificated stones in their stock, they offer customers a startling selection of colour, cut, clarity and carat weight to suit every taste, with such luxurious items as custom engagement rings and eternity rings, to name just a few. Contact: Steven Beer, Managing Director 46 Warstone Lane Hockley Birmin ham
West Midlands B18 6JJ Tel: +44(0)121-236-4415 Email: enquiries@marlowsdiamonds.co.uk