Speaking to INSIDER, the team at JamesAllen.com estimates that the ring is worth over $1 million and features an approximately 15-carat emerald-cut stone.
The experts at Rare Carat estimate the ring's value at around $4.5 million with a 20-carat D-Flawless diamond.
On Saturday, Rodriguez and Lopez celebrated their engagement by sharing a photo of the ring on Instagram. The photo shows Lopez and Rodriguez holding hands with her eye-catching ring on full display.
According to gem experts, Lopez's ring is estimated to have come with an impressive price tag between $1 million and $4.5 million.
A post shared by Alex Rodriguez (@arod) on Mar 9, 2019 at 5:34pm PST on
On the lower end of the estimates, the experts at JamesAllen.com told INSIDER that they estimate the value of Lopez's ring to be over $1 million. It features an approximately 15-carat emerald-cut stone with a solitaire setting, which is becoming an increasingly popular choice.
"Emerald cut diamonds became popular back in the 1920s, a time when clean lines and art deco styles were in fashion," the experts at JamesAllen.com said in a statement provided to INSIDER. "However we've recently seen a returned interest in this shape, with celebrities such as Amal Clooney and Beyoncé sporting the stone."
The team of gemologists at Rare Carat estimate an even larger value. The team estimates that the ring features an exceptionally rare D-Flawless diamond, which is sought after for its perfectly colorless appearance.
In a statement provided to INSIDER, the team estimates that the ring is 20 carats and could be worth around $4.5 million.
Purchasing an engagement ring is often a big expense. By also purchasing insurance, you can be sure you don’t pay out of pocket for repairs or to replace the ring if you lose it.
The best thing to do is to purchase insurance right away: Once you officially make the purchase, you can go ahead and add it to your insurance policy.
Insurance options include adding a personal property/jewelry rider to your home insurance or renter’s insurance policy. If you don’t have either of these, you can insure the piece separately through a reputable insurance agency or a company like Jeweler’s Mutual.
Purchasing an engagement ring is often a big financial decision.
Though engagement rings can range in cost from hundreds to thousands of dollars, it's a good idea to purchase insurance as one of the first matters of business. Here's what you should know about how to insure your engagement ring.
Find the best provider and policy for you
"Insurance is very important," says Peter Meksian, CEO of Michael M, a Los Angeles-based luxury bridal and fashion jewelry company. "Most 'home' insurance policies cover jewelry and watches to a certain amount. If you do not have a homeowner's or renter's insurance policy, you can always get an insurance policy from Jewelers Mutual, who specialize in personal jewelry policies."
"You would not own a car without insurance — insure your jewelry," Meksian added.
If you already have homeowner's insurance or renter's insurance, it's likely the policy covers jewelry and watches up to a certain value, but it might not be for the full amount of the engagement ring. If that’s the case, you’ll be able to add personal property — such as an engagement ring — as a rider to the policy. The cost varies based on the cost of the ring and the provider.
Insure the piece as soon as you can
Experts suggest purchasing insurance before taking possession of the ring. If that's not possible, insurance should be purchased right when you receive the ring.
"Consumers should insure any piece of jewelry that they would not be able to replace on their own if it were lost or stolen. That amount differs from person to person, but can be as little as $1,000,” says Oded Edelman, President and co-founder of JamesAllen.com.
"You also need to find out if the policy covers you fully if the item is damaged or lost outside of the United States,” says Edelman. “You’re probably more likely to be exposed to theft or lose your ring when you’re traveling, so this question is key and many policies will have riders that don’t allow this level of coverage. Finally, ask if your jewelry is covered at the full replacement cost and if you can receive a cash settlement instead of a replacement item."
Gather the right information for the provider
In order to successfully insure the ring, you will need several items of documentation.
Appraisal: Most insurance companies will require an appraisal on the piece if it's of significant value. An appraisal will include details like the 4 C’s: carat weight, cut, clarity and color, and should be done by a reputable company. Though the piece may appraise for slightly higher than you paid, you'll want it close because a higher appraisal may mean a higher insurance premium. Note: You may want to reappraise every few years to make sure the value is correct.
Grading Report: The jeweler may also provide a grading report, like those from GIA, the Gemological Institute of America. This will also list the specifications of the diamond or precious stone, but it is not an appraisal. Rather, it will help the appraiser determine the value and thus would be good to submit with the insurance policy. If the ring were to be damaged or lost, the grading report would be used to determine a suitable fix or replacement for the piece.
Photos: Along with your appraisal and grading report, you may also want to submit photos of the ring to the insurance company so the specifications are met with an exact visual of the piece. This will also aid in helping to repair or replace the item, should you need to.
A recent Reddit thread about a woman's boyfriend wanting to propose using an old engagement ring that was originally meant for an ex-girlfriend is going viral.
In the post from Thursday titled "Is it unreasonable rejecting an old engagement ring?" Reddit user thatgirlwithqns explains that her boyfriend asked if she would accept an engagement ring he previously designed for his ex-girlfriend. She wrote that he spent thousands of dollars customizing the ring overseas, and now he would only get a few hundred dollars back if he sold it instead.
She writes in the post that she does see the practicality of reusing the ring, but she's also not fully on board with wearing a ring meant for a previous relationship.
"Something in my heart just can't get over the fact that the ring was originally made for someone else in mind," she wrote. "He assured me that she never wore it, but I just don't want something that wasn't made for me."
When she asked Reddit users "Am I being unreasonable?" almost everyone seemed to agree that she was in the right.
Some suggested that the couple repurpose the ring by having the diamond reset, while others thought simply selling the ring was the best option.
"This guy needs to get his priorities straight," Masini told INSIDER. "If he wants someone to say yes to a proposal to spend the rest of her life with him, why not start out with grace and generosity? In other words ... get a new ring!"
Masini thinks the woman in the post should "trust her instincts" when it comes to how to handle the situation.
"That she is bothered by this incident is valid. She should be," she said. "This guy has lots of options to make his new fiancée feel special, and he's taken none of them."
One of the options she suggests is selling the ring and putting the proceeds towards a new one, though she advises against repurposing the diamond.
"If this was an heirloom that had been in the family for decades or generations, repurposing it would be a nice idea, but this is the ring he bought for another woman, five years ago!" Masini said. "Repurposing this ring or this stone, or any part of it, is tacky."
"She wants her relationship to reflect what she has with her partner, not what he had with his ex," Winter told INSIDER. "It's bad energy to repurpose a ring made for another woman."
Winter says she could understand if the ring was an heirloom passed down through his family, but she feels this an entirely different case.
"This is the case of a man being cheap," Winter said. "His desire to salvage his investment seems to be more important than honoring his fiancée's feelings. It has nothing to do with frugality or practicality. He's placing the carcass of a dead relationship unto a new and vibrant one."
As for how the woman in the post should handle the situation, Winter feels being upfront with her feelings is the best route.
"The fiancée has been clear that she doesn't need anything extravagant," Winter told us. "She has one desire; to have something that is hers. This is a completely reasonable request."
She then went through multiple outfit changes on the red carpet and added extra makeup and accessories in between.
At one point during her performance, the musician took multiple rings from a box and put them on her fingers.
One ring had a striking resemblance to her engagement ring from former fiancé Christian Carino, though it was actually from Tiffany & Co, according to E News.
Lady Gaga made a showstopping entrance at the 2019 Met Gala on Monday, held annually at the Metropolitan Museum of Art in New York City.
The multihyphenate star arrived wearing a large hot-pink gown, but quickly changed into two other dresses. She later removed both layers to reveal a sparkly bra and jeweled tights, and even made time to accessorize.
She applied extra lipstick in between one set of outfits, and then took colorful rings out of a box and wore them for the remainder of her performance. One ring, in particular, stood out from the rest, as it closely resembled her engagement ring from a former fiancé.
Specifically, the pink diamond she wore on her pinky finger looked a lot like the engagement ring previously given to her by former fiancé Christian Carino. It was estimated to have been worth $300,000.
Gemologist and diamond expert Grant Mobley previously told INSIDER that Gaga's "timeless design" featured a rare, high-quality stone, and was possibly a "pink sapphire around six carats, surrounded by a halo of round diamonds looking to be around three carats in total."
Lady Gaga and Carino started dating in February 2017 and confirmed their engagement in October 2018. However, the couple split after two years of dating in February 2019.
However, according to E! News, the gem simply resembled her previous engagement ring and was one of five rings designed by Tiffany & Co. and worn by Lady Gaga on the Met Gala red carpet.
In total, Lady Gaga is said to have worn more than $2 million worth of jewelry on Monday night.
Narrator: Catbird has become a sought-after brand known for its delicate, minimalist jewelry and engagement rings. While other brands have been trying to jump on this delicate-jewelry trend, Catbird founder, Rony Vardi, was ahead of her time when she opened up her first shop in 2004. Originally, the shop sold a little bit of everything until Rony realized her love for jewelry.
Rony: Jewelry sort of became something that I accidentally fell in love with. I didn't know that I loved it. I also sold clothing at the time. I didn't know that I hated that, and I did, so jewelry became a focus. I would make it at home. I would work with jewelry designers, and it just became kind of an evolving store, and then over time, jewelry really became the focus.
Narrator: Fast-forward to today, and Catbird jewelry is worn by everyone from Meghan Markle to Lena Dunham to Jessica Biel. Narrator: The brand's most popular item: the Threadbare ring. All of Catbird's jewelry is handmade by a team of talented jewelers in Brooklyn Navy Yard.
Rony: We make everything ourselves. We have so much control over it. We don't have to order 10,000 of something and try it and hope it does well. We can make 10 of something or 40 of something or 100 and really sort of gauge interest and not bloat ourselves with inventory.
Narrator: We got a peek inside Catbird's Brooklyn studio to learn specifically how the jewelers make the engagement rings. The shank, the part that goes around the finger, and the setting of the ring are laser-welded together. The parts are sanded and checked for accurate sizing and shape. The jeweler then cuts the seats for where the stones will be placed. It's then polished all over. From there, the ring is placed into an ultrasonic bath for several minutes to be cleaned. The ring then gets a quick blast of steam. Now, the jeweler sets the stones. The prongs are then pushed all the way down to secure the stones. Catbird proudly recycles all the diamonds in its jewelry. The recycled stones are reclaimed from vintage jewelry.
Rony: Our gold is recycled. Our caster uses electric ovens. I mean, we really go deep into sustainability at every angle, which jewelry is not known for. It's been a priority for a long time, and it's been something that we now have really devoted ourselves to.
Narrator: The prongs are then shaped. One more final polish is done, followed by another quick bath and some more steam to make the ring extra shiny. The jeweler signs a card with their initials to guarantee Catbird authenticity. The ring is ready to be packed in Catbird's signature way and shipped out. This beautifully handmade ring is ready to wow someone and be placed on their finger.
Leigh: Because we make everything ourselves and because we've really been at this for quite a while, which I think is something that makes us special. We've been doing this for nearly 15 years. We have time on our side.
Hilary Duff took to Instagram on Monday to announce that she's engaged to boyfriend Matthew Koma. In her post, the "Younger" actress also gave fans a glimpse of her engagement ring.
"He asked me to be his wife," Duff captioned her Instagram photo, in which she's seen holding her left hand up next to Koma.
A post shared by Hilary Duff (@hilaryduff) on May 9, 2019 at 7:20am PDT on
Speaking to INSIDER, representatives for RareCarat, a diamond search engine, said the ring likely includes a four-carat, cushion-cut stone that's worth $100,000.
The diamond experts at RareCarat also said the gem is likely a quality of G VS1 or higher, which stands for "Very Slightly Included," or including few flaws.
Duff and Koma have been linked since they made their first red-carpet appearance as a couple in January 2017. However, it's unclear as to when exactly they started dating. E News also reported that Duff and Koma broke up in March 2017, but eventually got back together — and have since shared much of their relationship on Instagram.
In October 2018, Duff and Koma also welcomed their first child together, a girl named Banks Violet Blair.
In November 2017, Prince Harry proposed to Meghan Markle with a diamond engagement ring featuring three diamonds set on a solid yellow gold band. Now, it appears that Markle has had the ring redesigned with a trendy new band.
A micro-pavé band is made with tiny diamonds for maximum sparkly effect. The thin design of the band also makes the central stones seem larger by comparison, as the Daily Mail pointed out.
Gemologists from Rare Carat, a search engine that helps educate consumers about diamonds, along with the company's founder and CEO, Ajay Anand, told INSIDER that a similar setting would cost $5,000.
The team also noted that the prongs appear to be more subtle, and that there may have been some additional filigree under the basket. According to Brilliant Earth, an ethically-sourced jewelry company, "a basket setting features prongs that secure the gemstone in a basket shape."
The gemologists at Rare Carat also think Markle could spark a new trend in wedding ring designs.
"This was not a trend that we had noted prior," Anand told us. "But, if the trends we see towards cushion cuts and three-stone rings indicate Meghan Markle's sway over engagement ring choices, we expect dainty micro-pavé bands to surge in popularity as well."
The original three diamonds are still present in the ring's design. The center cushion cut diamond was chosen by Harry from a conflict-free supplier in Botswana, while the two round diamond stones on either side are from Princess Diana's personal collection.
Speaking to INSIDER, representatives for Rare Carat, a diamond search engine, said the ring has "great clarity" and is likely more than 10 carats.
Rare Carat representatives also said the ring could be sold for as much as $450,000, as it features an "old cut" diamond that creates an antique aesthetic.
Nearly two months after announcing her engagement to "Saturday Night Live" star Colin Jost, Scarlett Johansson finally showed off her engagement ring over the weekend.
On Saturday, Johansson attended Comic-Con in San Diego, California, to speak during the Marvel Studios Panel. While onstage, the "Black Widow" actor seemingly debuted her ring, which features a dark, pear-shaped diamond and a matching brown band.
While this is the first time Johansson has publicly worn the ring, Page Six reported that she also wore it while celebrating her engagement at upstate New york restaurant Blue Hill at Stone Barns in May.
The ring was likely created by designer James de Givenchy, the nephew of Givenchy's founder, Hubert de Givenchy, according to The Adventurine.
An image of de Givenchy's design was shared on the Instagram page of his luxury jewelry brand, Taffin.
A post shared by TAFFIN (@taffinjewelry) on Jun 29, 2019 at 12:26am PDT on
Speaking to INSIDER, representatives for Rare Carat, a diamond search engine, said the ring is likely more than 10 carats and worth $450,000
"Rare Carat estimates Scarlett's ring will retail for $450,000," representatives for Rare Carat told INSIDER. "The diamond has great clarity, which is hard to find in a large, fancy colored diamond, especially a light brown."
Representatives for Rare Carat also said the "cutting style" of Johansson's diamond is "different to the norm."
"It is cut as an 'old cut,' which is an antique style of cutting," Rare Carat representatives said of the diamond. "You will notice an angular pear shape in the middle — that is an open culet, which is how they used to cut diamonds before modern cutting methods were developed."
Johansson's ring could be the same one seen on Taffin's Instagram page. If true, the ring might feature an 11 carat, Type IIA diamond.
According to representatives for Rare Carat, Johansson's ring could be "special" if it is a Type 11A diamond, as it would then have "no nitrogen impurities."
"If it is indeed a Type IIA diamond, that makes it special," Rare Carat represenatives said of Johansson's diamond. "Type IIA's are one of the rarest chemical structure types, and the most coveted."
Johansson became engaged to 'Saturday Night Live' actor Colin Jost in May
Johansson and Jost became engaged two years after meeting on the set of "Saturday Night Live." It is the third engagment for Johansson, who was previously married to Ryan Reynolds from 2008 to 2011 and French journalist Romain Dauriac from 2014 to 2017.
Most recently, Johansson received backlash after telling As If magazine that she "should be allowed to play any person, or any tree, or any animal" because it is her "job."
Johansson later said in a statement sent to INSIDER that her interview was "edited for click bait" and "widely taken out of context."
"I personally feel that, in an ideal world, any actor should be able to play anybody and art, in all forms, should be immune to political correctness," she said. "That is the point I was making, albeit didn't come across that way."
"I recognize that in reality, there is a widespread discrepancy amongst my industry that favors Caucasian, cis gendered actors and that not every actor has been given the same opportunities that I have been privileged to," she continued, adding that she supports "diversity in every industry."
Representatives for Scarlett Johansson and Taffin did not immediately reply to INSIDER's request for comment.
It may sound strange to shop for a wedding band online, but these days, there are a lot of great options. After much research, my husband and I bought our wedding bands online.
Blue Nile is our top pick because it offers tons of traditional and modern styles in a range of budgets, and we found shopping online to be less stressful than dealing with salespeople and feeling pressured to buy a ring in the store.
A wedding band is arguably more important than an engagement ring, but in my experience, so much less stressful when it comes to shopping. It still doesn't mean it's any less sentimental or that the shopping process is completely stress-free.
My husband and I shopped for our bands online, and at a different place from where we bought my engagement ring too. The two rings don't need to match so there's no point in going back to the same store, unless there happens to be a ring that you really like.
There are a lot of places you can get wedding bands online and a ton of styles to choose from, so it's important to find a place that has exactly what you're looking for to avoid overwhelming yourself. You'll presumably be wearing your wedding band for a long time, so it's crucial to pick a style you'll love indefinitely and not just for a few years.
Here are the best places to buy wedding rings online:
Blue Nile, our pick for the best place to buy your engagement ring, is unsurprisingly also the best place to buy your wedding band. There are tons of traditional and modern styles in a range of budgets, making the shopping process less stressful.
Blue Nile has so many styles that it's great for people who are curious about different styles and for those who are ready to buy. Styles range from the classic plain band to curved pavé bands to designer collections from Monique Lhuillier, Zac Posen, and more. It can be overwhelming but luckily, the various search functions can help narrow things down.
You can set filters for the general style you want, check out the 10 most popular styles for men and women, or if you bought your engagement ring on Blue Nile, just look at the suggested bands that complement your ring. (Or not, there's no rule that says both rings need to match.)
Images of the rings are zoomed in so you can see all the details, and shoppers who've bought the same ring will often attach their own photos so you can get a better sense of how the ring really looks. I found this so helpful because I was able to see just how thin or thick a certain band was on someone's hand, or how brilliant a pavé band is in natural light.
Prices are comparable to other sites in this guide, but can often be cheaper as there always seems to be a promotion running. If you have a few rings in mind, I'd suggest favoriting them so you can get email alerts when the price drops — and it will. And if you find that the ring you bought is cheaper within seven days of your purchase, you can contact customer service via the 24/7 chat box or phone for a price adjustment — which my husband and I did.
Blue Nile also offers free shipping and returns, and has a great 30-day return policy in case the style isn't what you or your partner expected. Engraved rings can be returned, though you'll forfeit the $25 engraving fee. Rings come nicely packaged and include both a felt pouch and ring box so they're ready to be presented as soon as you open the box.
Pros: Has a ton of styles to choose from, suggests wedding bands that complement engagement ring, shopper reviews with photos are helpful, free shipping and returns, 24/7 chat box, offers price adjustments, free resizing
Cons: Many choices can feel overwhelming, no physical store to try on
The best selection for men
There are always more ring options for women than men, but Ritani has more than 650 styles of rings for men so they won't feel boxed into just a handful of standard designs.
Women kind of have all the fun when it comes to ring shopping — there's just so much to choose from! But Ritani has a huge selection of rings for men that even we were surprised by the amount. There are more than 650 wedding bands for men and more than 500 for women. For context, Blue Nile has more than 250 styles for men and more than 440 for women.
All the bands are gender neutral though, so you should shop for the ring that looks good to you as opposed to conforming to a stereotype.
Couples who want to see the bands in person before checking out online would also benefit from Ritani's extensive network of jewelry store partners around the US that let you preview your ring before you buy. It's a great combo that's both time-efficient and stress-free since you're only viewing the one or two rings you've picked out online.
Ritani also offers free shipping and returns, and a 30-day return policy (thought not for engraved items).
Pros: Huge selection of styles for men and women, in-person previews at local jewelry store, free shipping and returns, 30-day return policy, financing opportunities
Cons: Too many options can be overwhelming, might be inefficient to go to a store several times if you're indecisive
The best for travel
The inexpensive silicone rings from Roq can come in handy for travelers and active lifestyles. The bands come in a bunch of different colors and styles, including ones that are metallic and even glittery.
Ideally, you get your wedding bands insured so they're protected against wear and tear, theft, damage, and more. But if you travel a lot, are really active, or use your hands a lot in your profession like dentists or doctors, it's understandable that you might not want to wear it all the time. That's where an inexpensive silicone ring from Roq can come in handy.
There are flexible silicone bands for both men and women (though they all seem gender neutral to me) in a bunch of different colors and styles, including ones that are metallic, colorful, and yes, even glittery. They're cheap enough that you won't panic if you forget it at a hotel or bang your ring against a free weight at the gym.
The silicone is medical grade and hypoallergenic, so it won't irritate skin, though should you need to return it for any reason, Amazon shoppers say that customer service is pretty great.
This is a number-one seller on Amazon with a 4.6-star rating out of 5 and more than 2,500 reviews. Shoppers say they bought the ring because they use their hands a lot and wanted something in place of a metal wedding band that could get dinged up, and that the rings are great quality.
Pros: Inexpensive, great for travelers or active people, flexible for comfortable fit, comes in lots of different colors and styles
Cons: Can seem juvenile
The best for customization
Customized wedding bands usually cost a lot because of the labor and time that goes into crafting a ring from scratch, but not at Holden— prices start at just $179.
If you think all wedding bands look the same and would prefer a custom one, check out Holden. It's part of a growing group of online direct-to-consumer shops that are changing how we shop for wedding bands and engagement rings, and one of the best advantages is the ability to customize your ring.
Instead of choosing from a pre-designed ring, you start with one of eight ring profiles, and then choose the metal, width, finish, and engraving. The rings start at $179 for a classic 10k yellow gold band and max out at $1,199 for a platinum multi-faceted style, and can take up to two weeks to produce — which is pretty quick for a full custom job.
The reason Holden can keep its costs down is because there's no middleman or storefront. Instead, rings are made in-house with 3D technology and wax molds, and go directly to the consumer for a fraction of the price of traditional jewelry retail markups, which are often 8x to 10x the cost of production.
There's also a free ring-sizing kit, free engraving, free ring resizing (once per calendar year), free shipping, a lifetime warranty, and payment plans for an easier time on your wallet. But the return window is pretty short at just 14 days and doesn't apply to any ring that has been previously exchanged, altered, or resized, even if done in-house at Holden.
Holden is definitely one of the newer startups in this guide and we get that shoppers might hesitate at drop a few hundred dollars, but since its launch in April 2018, revenue has doubled month over month and direct-to-consumer fine jewelry startups are becoming more mainstream, so it's definitely a growing company.
Pros: Fully customized rings, easy online interface, can see rings at NYC studio by appointment, free engraving, free ring resizing (once per calendar year), free shipping, a lifetime warranty, and payment plans
Cons: Short 14-day return window, shoppers who don't live in NYC can't view rings in person, limited styles currently
The best nontraditional styles
Brooklyn-based Catbird stocks wedding bands that are truly nontraditional yet timeless.
It should come as no surprise that Brooklyn-based Catbird specializes in nontraditional, unique wedding bands. You won't find any plain bands here, even the most "traditional" look has a literal twist on it.
Unlike the other stores we've highlighted in this guide, Catbird also stocks rings from other fine jewelry brands like 1909 Erica Weiner, Erstwhile, WWAKE, and more. This means the designs are super unique; you're not scrolling through dozens of rings that look similar to each other.
While the selection of styles is large, the quantity of each is much smaller than expected. Catbird even has a note on its site that some ring sizes would be made custom once an order is put in — which make it final sale and ineligible to return. It's a bet you'll have to take if you really love an item online, but one that I don't think you can go wrong with given how unique and special each design is. If you're in Brooklyn, you can make an appointment to view rings.
Pros: Unique and nontraditional designs, designs are from actual jewelry designers and brands
Cons: Can't view rings in person unless you're based in the greater New York City area
A man craftily proposed over a month by sneaking an engagement ring into photos with his girlfriend.
Edi Okoro posted the story on Facebook, saying he kept carrying the ring around and waiting for the right moment but then realized he may as well document the experience.
He said his girlfriend, Cally Read, would be suspicious if he booked a meal or a holiday, so he wanted to be spontaneous.
"The idea was to take as many photos, in more daring scenarios, until I found the perfect moment to propose, or until I got caught, at which point I would propose!" he wrote.
Okoro managed to sneak the ring into about 20 photos, many of which also have Read in them. He even managed to put it in her palm while she was sleeping.
You'd imagine someone gets very nervous and anxious when they're building up the courage to propose to their partner. Some may even go out of their way to keep their partner from guessing they're about to pop the question.
But Edi Okoro was so confident his girlfriend had no idea a proposal was coming that he managed to sneak her engagement ring into photos over an entire month before he finally asked her to marry him.
In a Facebook post last week, Okoro told the story of how he proposed to his girlfriend, Cally Read.
"I can finally put this out there," he wrote, adding: "Those who have gone through this (and those who will soon find out) you want to propose in a way that speaks to you as a person and couple. Some plan a flash mob, a fancy meal, or even arrange a marry me sign. I couldn't do this because 'Edi doesn't plan' .... I'm a spontaneous improviser!"
He said Read would have known immediately that he was about to propose if he planned a holiday or a fancy meal, so he took the ring everywhere "hoping the 'moment' would arise in line with my spontaneous style."
Okoro said he ended up taking the ring everywhere with him and then thought he might as well start documenting the moments. He ended up with about 20 photos and two videos, all with Read oblivious to the fact that her future engagement ring was in the frame with her.
"The idea was to take as many photos, in more daring scenarios, until I found the perfect moment to propose, or until I got caught, at which point I would propose!" Okoro wrote.
He shared some of the images with Insider.
Some photos were taken in their home while Read faced the other way
Others were taken while Read slept, unaware that the ring was nearby — it was even in her hand at one point
Okoro took the ring everywhere, including to shops and out on bike rides
In the end, he really tested his luck with some of the photos
"We met at athletics,"Okoro told Bored Panda. "We both competed at a very high level and traveled to competitions together."
He added: "I knew she was the one after I realized our conversations didn't dry up and we bounced off each other."
He said the picture with the binoculars was one of the closest calls, "only because she could have just looked up."
"Also, walking around with it in my pocket I knocked into her a few times," he said, but "she didn't notice it was a box."
Insider spoke to runway stylist and jewelry expert Tanya Dukes and jewelry designer for the stars Neil Lane about what ring trends we can expect to see in 2020.
Lane predicts romantic designs are going to be big in 2020.
"We're seeing more brides opt for rose gold over traditional metals, as well as gemstones like morganite and soft stones, so I think romantic designs are going to be big in 2020," Lane told Insider.
For instance, this ring has a morganite stone and rose gold band.
"I'm a romantic, so I love designs with delicate shapes and dreamy hues," he added.
"Understated solitaires on unembellished bands are rising in popularity," said runway stylist and jewelry expert Tanya Dukes.
"I'm surprised that solitaires are rising in popularity, even among celebrities," she said. "It's an understated look but very classic and timeless."
Dukes noted that the trend is particularly popular for couples who can afford a large stone.
"Jennifer Lopez's current rock from Alexander Rodriguez is an extreme example," Dukes elaborated, speaking of the $4.5 million engagement ring Rodriguez gave Lopez in March 2019.
"Geometric shapes and minimalistic designs are becoming increasingly popular because of their versatility," Lane said.
"They're ideal for modern women seeking style and elegance that translates from day to night," Lane said of minimalist rings.
Dukes seconded Lane's analysis. "There's a movement toward elegant minimalism — a less is more attitude that pays a lot of attention to the architecture of a ring rather than adding a lot of decoration," she said.
The experts have also noticed colorful stones rising in popularity.
"Morganite, aquamarine, and garnet engagement rings have recently become quite fashionable, as they offer unique, eye-catching options," Lane said.
"Gemstones were once considered an avant-garde choice, but now brides are looking for that pop of color," he added.
"There's been a big embrace of color," Duke said. "That applies to diamonds and gemstones too."
"Scarlett Johansson is wearing a massive light-brown diamond in her new engagement ring, while Jenny Slate just debuted her sapphire engagement ring," Dukes pointed out.
Both Lane and Dukes pointed to Katy Perry's flower-shaped engagement ring from Orlando Bloom as an example as well, highlighting both the floral shape and colorful design.
"Brides are looking beyond the traditional diamond for a ring option that lets their true colors shine," Lane said.
Lane has seen increased interest in oval and pear-shaped rings from contestants on "The Bachelor" and "The Bachelorette."
"A few years ago, everyone wanted a round or a princess-cut diamond," Lane said. "Now, bachelors and bachelorettes are rediscovering and gravitating toward fancy-cut stones like the oval and pear."
"Both men and women are drawn to these romantic cuts, so I've incorporated them into a number of my designs at Kay Jewelers," Lane noted of his latest work.
Oval diamonds are becoming a popular shape for rings.
"Everyone jumped on the oval diamond bandwagon this year," Dukes said of the cut.
"Actresses Sarah Hyland, Melissa Benoist, and model Lais Ribeiro are among the celebrities who got engagement rings with the fancy-cut stone," she said.
"I think the trend for the shape is reaching its peak," Dukes added, as it has been a popular shape for a few years now. The oval shape will probably become less popular toward the later half of 2020 as brides begin to gravitate toward geometric shapes.
When it comes to shopping for engagement jewelry, both experts said you should pick a ring that speaks to you.
"While today's ring shapes and colors are fun and unique, you shouldn't choose something just because it's the latest trend or because it will impress your friends," Lane told Insider.
"Always be true to your heart and pick a style that you love. Your ring should be a celebration of your personality and style," he added.
"Go with something you love, even if it doesn't look traditional," Dukes agreed.
Kim Kardashian West recently made headlines when she appeared to be wearing the same exact engagement ring that was stolen when she was robbed at gunpoint in Paris in 2016.
But Kardashian West revealed that she had actually borrowed the ring from Lorraine Schwartz, who also designed the stolen 20-carat emerald-cut ring that Kanye West had given her in 2016.
Kardashian West said Schwartz had a "little fake" replica of the engagement ring, which she borrowed for a recent photo shoot.
The reality TV star and her sisters Khloe and Kourtney Kardashian wore more than $30 million worth of diamonds for the photo shoot to promote Kardashian West's new fragrances.
Fans are used to seeing Kim Kardashian West dripping in jewels, but one recent photo shoot left them feeling confused.
Kardashian West made headlines when she appeared to be wearing the same exact engagement ring that was stolen when she was robbed at gunpoint during Paris Fashion Week in 2016.
The 20-carat emerald cut ring was suddenly back on the reality television star's finger in photos for her new KKW fragrances — or so it seemed.
A post shared by Kim Kardashian West (@kimkardashian) on Nov 9, 2019 at 7:20am PST on
But the $4 million sparkler, which husband Kanye West gave her in 2016, has not been returned to Kardashian West, as some fans had hoped.
Kardashian West revealed on Tuesday that she had actually borrowed all the jewelry from Lorraine Schwartz, who designed the stolen engagement ring as well as the first 15-carat engagement ring that West gave her in 2013.
"I borrowed all jewelry from Lorraine Schwartz," Kardashian West told Entertainment Tonight's Lauren Zima. "It was nice to borrow it all and nice to give it back to her."
"That was a really fun shoot," she added. "And because it was diamonds, I thought this was the perfect way to bring it back and wear them again."
A post shared by Kim Kardashian West (@kimkardashian) on Nov 13, 2019 at 4:56pm PST on
Kardashian West appeared alongside her sisters Khloe and Kourtney for the shoot, where they wore diamonds worth more than $30 million, according to People.
Photos from the shoot show the Kardashian sisters dripping with diamond bracelets, necklaces, rings, and earrings. They each wore their hair completely slicked back, leading many fans to comment that they looked like triplets.
Kardashian West revealed that she often borrows jewels from Schwartz, a family friend who she said "always knows the cut and everything that I really wanted."
Included among those jewels is a replica of her stolen engagement ring.
"There is a replica around," Kardashian West told Entertainment Tonight. "A little fake that I'll borrow from her sometimes that she made. A really nice one. It looks really nice."
The location of Kardashian West's 20-carat engagement ring still remains unknown.
A post shared by Kim Kardashian West (@kimkardashian) on Oct 31, 2019 at 8:04pm PDT on
A year after Kardashian West was robbed, suspected ringleader Aomar Ait Khedache told police that all of Kardashian West's jewelry had been melted down except for her engagement ring, which had to be sold to a private buyer because it was so recognizable.
"There is a person who has it," he told police, according to Le Monde. "Everyone was afraid to sell it because it's a stone that's very easily spotted."
"I learned from a bad experience I had when I was robbed that people really knew my every move," she said during The New York Times' DealBook conference on November 6.
"They knew what I had, they knew where I was, what I was doing, and that to me really changed the things that I post."
Representatives for Kim Kardashian West did not immediately respond to Insider's request for comment.
Emma Stone is engaged to "Saturday Night Live" writer and segment director David McCary, according to an Instagram post shared by McCary on Wednesday. The couple has been dating for two years.
In the photo of the newly engaged couple, Stone held her hand to the camera to display her ring.
The ring Emma Stone received could cost between $35,000 and $45,000
Benjamin Khordipour, a gem specialist at New York City-based Estate Diamond Jewelry, told Insider via email that the ring could cost anywhere from $35,000 to $45,000.
"The center pearl seems to be a natural saltwater pearl, which is very rare," Khordipour said of the ring. "It's accented with diamonds along the sides and surrounded by a floral halo of diamonds."
The ring's pearl measures 8.5 millimeters and is rounded with high-luster in the center, Khordipour explained, and it's set on a platinum mounting.
A post shared by @ davemccary on Dec 4, 2019 at 4:42pm PST on
Several fans commented on the Instagram post to congratulate the couple, saying Stone's ring was hard to discern because of blurriness.
Another fan turned the actress' name into a pun, writing: "Emma's stone looks nice."
Stone's engagement ring is contemporary but reminiscent of styles from the early 1900s
"The architecture and workmanship of her ring feel very modern and contemporary. It is very common for designers to take inspiration from earlier jewelry eras and create a modern twist," Khordipour said. "The way that the diamonds are set on the sides, and the style prongs that hold them in place, all indicate that it was made more recently."
Khordipour also described Stone's ring style as "reminiscent of the Edwardian Era, especially due to the use of pearls as the feature stone."
"During the Edwardian Era in the early 1900s, people believed that pearls offered wealth and protection," Khordipour said.
Lady Kitty Spencer is Princess Diana's 29-year-old niece, which also makes her a first cousin of Prince Harry and Prince William.
She got engaged to Michael Lewis, a 60-year-old, South African-born millionaire, before Christmas in 2019, the Mirror reported.
Lady Spencer has been photographed wearing what appears to be her engagement ring.
Insider spoke with jewelers and engagement ring experts, who said Lady Kitty Spencer's eternity-style band could cost anywhere from around $65,000 to $160,000, depending on the weights of each diamond.
Lady Kitty Spencer, the niece of Princess Diana and the first cousin of Princes William and Harry, recently got engaged to a 60-year-old fashion mogul and millionaire, Michael Lewis.
Lewis reportedly proposed to Lady Spencer before Christmas, according to the Mirror.
Insider spoke with engagement ring experts to learn about the style of Lady Spencer's ring, as well as what the diamond-clad piece of jewelry may have cost.
A professional jeweler estimated that Lady Spencer's engagement ring could be worth up to $160,000
Eddie LeVian, CEO of New York City-based jewelry company Le Vian, told Insider in a statement via email that he estimated Lady Spencer's engagement ring could be worth approximately $160,000.
"I estimate that the eternity-style ring Lady Kitty Spencer has been spotted wearing weighs a total of seven carats, although it's difficult to tell the exact weight of each diamond based on the photographs," LeVian added.
Her eternity band appears to feature 18 emerald-cut diamonds, another expert told Insider
Benjamin Khordipour from New York City-based Estate Diamond Jewelry told Insider that he predicted Lady Spencer's ring could cost anywhere from $55,000 to $65,000.
Khordipour said that her ring, a diamond eternity band, appears to feature approximately 18 emerald-cut diamonds, which are set in a half-bezel style and a platinum mounting.
"The platinum bezel follows the edges of the elongated, emerald-cut diamonds, which give it a very geometrical appearance," Khordipour said of the ring Lady Spencer has been pictured wearing.
He estimated that the size of each diamond looks like it could measure around 0.60 carats each.
Experts predict that geometric ring styles like Lady Spencer's diamond band will be a big trend this year
"Emerald cuts are very much in style right now," Denis Stepansky, founder and owner of New York City-based jewelry store ItsHot.com, told Insider. "People love how the angles of the cut are sharp and highly reflective. They really give the stone a pure feeling."
The emerald-cut diamond shape can be traced back to the 16th century, when stonecutters created the shape specifically for emerald stones, Stepansky told Insider.
During the Art Deco period, diamonds shaped in the emerald cut became a popular jewelry style, according to Estate Diamond Jewelry. Wedding trend experts say that geometric-shaped gems and diamonds, similar to those featured on Lady Spencer's ring, will continue to be popular choices for engagement rings this year.
"Geometric shapes and minimalistic designs are becoming increasingly popular because of their versatility,"celebrity ring designer Neil Lane previously told Insider reporter Samantha Grindell.
Lane added: "They're ideal for modern women seeking style and elegance that translates from day to night."
With Valentine's Day ahead, we took a look at the average engagement ring price by state, which ranges from $3,005 to $10,109, according to diamond retailer Ritani.
People in Washington spend the most on engagement rings, while those in South Dakota spend the least.
Engagement season typically runs from Thanksgiving through Valentine's Day, and with the latter holiday just around the corner, proposals are about to reach their peak.
The average American spends $7,750 on an engagement ring. That's according to online diamond retailerRitani, which specializes in engagement rings. They took an even deeper dive into the statistics to find the average price paid for an engagement ring across the US in 2019. The range is wide — engagement rings in South Dakota sold for $3,005 on average, but those bought in California were worth nearly five figures.
But many factors go into pricing a diamond engagement ring. Diamonds are graded and priced based on the "four Cs," which are cut, carat, color, and clarity. Each of those can affect the price. A 1-carat round-shaped diamond with an "ideal" cut grade, for example, can range from about $2,000 up to $12,857 at Ritani depending on its grade for clarity and color.
Below we've ranked the average amount of money spent on an engagement ring in each state, from lowest to highest.
Sarah Jacobs previously contributed to an earlier version of this article.
While "jewelry giants" like Jared and Zales have reported weak sales, millennial-run businesses with vibrant Instagram presences are shaking up the engagement-ring market and reshaping the multibillion-dollar industry.
The platform has both created and responded to a demand for an immersive, personalized, and instantaneous shopping experience.
Celebrities' and influencers' Instagram posts about their rings have affected shoppers' preferences and determined designers' marketing strategies.
Mom-and-pop retailers have struggled to keep up as e-commerce surges.
The photo on Stephanie Gottlieb's Instagram features the 32-year-old jewelry designer's perfectly manicured fingers in front of a blurry cerulean Pacific Ocean. In focus are her rings — most notably, a large cushion-cut diamond piece.
"Picture perfect," she captioned the photo, adding the ring and seashell emojis. The snapshot from her anniversary vacation is one of many out-of-office moments that Gottlieb shares on her high-end jewelry brand's account.
Stephanie Gottlieb Fine Jewelry, which began as a one-woman operation in 2013, has grown to employ 11 people who operate out of a New York City showroom. Gottlieb said the company's success and proliferating sales were largely due to leveraging Instagram.
"Year after year, our sales have grown in correlation with our social-media following," she told Insider, noting that Instagram is the business's only marketing to date.
A post shared by Stephanie Gottlieb (@stephaniegottlieb) on Dec 26, 2019 at 3:12pm PST on
A 328,000-user following and occasional shout-outs from influencers like Girl with No Job (aka Claudia Oshry) and the "Real Housewives of New York City" alum Bethenny Frankel suggest continued momentum for the business.
Gottlieb is not the only jewelry entrepreneur adapting to an increasingly Instagram-dependent world.
Nicole Wegman founded her luxury-jewelry business, Ring Concierge, six years ago, with a millennial audience in mind — and a marketing strategy to match.
"Social media has been instrumental in the growth of the company," she told Insider.
Wegman said her goal to create an engagement ring for millennials extends beyond the product itself — she aims to provide the shopping experience she believes her generation would want.
A post shared by RING CONCIERGE (@ringconcierge) on Oct 19, 2019 at 7:06am PDT on
Wegman knows her online audience's aesthetic. The designer's Instagram posts, which receive thousands of likes and comments, typically feature engagement rings and Wegman's signature deep-red nail polish against a background of travel hot spots and a 'gram-worthy showroom. The Ring Concierge account has accrued 285,000 followers and even celebrity clientele, including the "Bachelorette" stars Joelle "Jojo" Fletcher and Jordan Rodgers.
The strategy and growth of both businesses, in contrast to jewelry giants like Kay, Zales, and Jared that last year reported weak 2018 holiday sales, point to how Instagram is reshaping the multibillion-dollar engagement-ring industry — an industry where, as Wegman says on her website, the line between retailer and influencer is blurring.
Prospective engagement-ring buyers are learning through Instagram.
Retailers say Instagram now serves as a primary search tool for people in the market for an engagement ring. Beyond that, the platform has become a bottomless source of information and inspiration for prospective buyers.
"What we see now is people are starting their journey by searching inside of Instagram," Johanna Tzur, the chief marketing officer of the diamond bridal retailer James Allen, told Insider. "So we create differently today knowing that someone might start there and it's a first impression.
"Our posts and stories need to vibe with the other posts appearing in their personal feed, be it a friend's breakfast plate or an influencer's showcase of his or her favorite goods," she said, "so we feature our own customers' content as much as possible."
Shane O'Neill, vice president of the jewelry-marketing firm Fruchtman Marketing, said he advises his clients to take advantage of the platform's power to educate followers.
"The big draw to social in the first place is access to information," he told Insider. "Instagram allows people to search for inspiration and see things they like and engage with, things they may not have been previously aware of."
As a result, O'Neill said, the more educated consumer is turning to custom design and high-end brands.
Lab-grown diamonds are on the rise.
One trend that shoppers on Instagram are learning about is the lab-grown diamond, an alternative to a mined diamond that can come along with ethical baggage at a steep price.
Companies like Brilliant Earth are cultivating massive Instagram followings — the company's account has 634,000 followers — and are educating prospective customers about the financial and moral benefits of pursuing a lab-created option.
"Lab-created diamonds have become a large and growing part of our base," Tzur said, "because people understand that the technology has gotten so good that visually and optically these diamonds that are made in a lab are the same in chemical composition."
Kate Austin, an influencer who developed an extensive YouTube and Instagram following for her LGBTQ activism and content — and who appeared on "The Ellen Degeneres Show" after a tweet about her engagement went viral — has used her platform to tell followers about lab-grown diamonds. Austin posts frequently about her partnership with Reeds Jewelers and its diamond-concierge service, which she said sourced diamonds for her and her fiancée that fit with their values of sustainability and social consciousness.
"I'm still able to get my diamond and not feel bad about it," Austin told Insider. "That was a huge thing for me."
Celebrities and influencers are dictating trends.
While designers try to prioritize their individuality in the jewelry space, there's no denying the impact of social media on their engagement rings.
"If a celebrity or a major blogger gets engaged with a really specific style, we will see demand for that immediately," Wegman said, citing the model and actress Emily Ratajkowski's Instagram post of her distinctive two-diamond engagement ring as an example.
"It's a super-specific ring that isn't the type of ring we would normally design here, but we definitely got requests for it right away — like, right away," Wegman said.
The obvious power of influencers is evident in retailers' prioritization of developing organic partnerships with Instagram personalities.
"We have a team that is basically, like, all day long watching what's going off on [social media] within a certain demographic set which reflects ours," Tzur said.
James Allen, she added, has developed a formula assigning a value to an influencer's following and engagement rate to determine what, exactly, the influencer can be gifted.
An important part of the influencer relationship, Tzur said, is providing an authentic experience.
"We try to give them the exact same experience that someone would have coming on our site," she said — adding that, of course, influencer status comes with extra perks like VIP access to one of James Allen's founders.
The ring-selection process, however, is virtually the same. "We're starting with the consumer and asking, 'What would you want?' 'What's your dream ring?' or, if it's working with an influencer's partner, 'What is she like?'" Tzur said. "And these are exactly the questions that our customer-service team would ask."
Austin, who has 148,000 Instagram followers, recalled a similar process when partnering with Reeds for her fiancée's ring. "We never discussed a discount to begin with; I never knew what it was going to be until they told me the final price," she said. "I think that we just created such a good relationship between the two of us, and we enjoyed working together."
Wegman said Ring Concierge chooses partnerships carefully, working only with influencers who are likely to engage with the brand outside of a partnership and have followings that mirror the business' target audience.
"You can blow through huge budgets on an influencer campaigns and not see a return," she said. "We're finding more benefit in influencers that may have smaller followings but their followers are more in line with our customer base in terms of life stage and taste level."
Instagram is helping partners stay informed about their preferences.
Buying an engagement ring has become a collaborative process for many couples, aided largely by Instagram.
"The vast majority of appointments are couples coming in together," Tzur said.
Brent Neale, another jewelry designer, said she increasingly sees men who know what their partners are interested in — often because of Instagram content their partners alerted them to.
"I always wonder how they found out about us," she told Insider. "They tell me, 'She sent me DMs of these things of yours that she likes.'"
Gottlieb recommended showing photos of desired ring styles to a significant other before starting the purchasing process. In a recent Instagram Story Q&A, she recalled saving images to a folder on her computer to help nudge her now-husband in the right direction.
Shoppers want a personalized, immersive experience — and they want it fast.
Retailers are facing a challenge to appeal to many millennials' preference for experiences over things while catering to their expectation of immediate "shopability" of products. Thus, they have to marry experiential shopping with seamless customer service via social media.
"When we create, we're creating things that can be immediately shopped and learned about and done in a way that's distinctive," Tzur said. "On the one hand, people want experience, but on the other hand, they just want 'click, buy, cart, comes to me now.' And I think that's only going to continue getting more pronounced."
Offering an authentic experience largely determines James Allen's Instagram account's aesthetic. "We favor posts that we think will make our followers want to be there, in that precise moment, wearing our jewelry and experiencing our products," Tzur said. "This calls for genuine moments in natural settings, perfectly imperfect snapshots in time, where our product is part of the action."
Wegman described Ring Concierge's social-media strategy as inviting her followers to experience her lifestyle through the brand. Her styled Instagram posts, shot on an iPhone, chronicle her daily appointments and travels.
"We show what I'm doing day to day, where I am. If I'm in Italy, all the pictures that week are real-time taken from Italy," she said. "And so our followers feel very connected to me, and it also helps them connect with the brand. It's also a way for them to almost see themselves in the brand."
The second branch of her strategy caters to buyers' need for expediency — which largely means answering Instagram DMs to create an in-store experience via a virtual setting where the shopper is most comfortable.
"If that's the way they're wanting to connect with us, we certainly want to be able to get back to them in real time," she said. "And we want to get back to them on the channel they're comfortable chatting on."
Mom-and-pop retailers are disappearing.
The explosion of e-commerce — and the social-media literacy required to run a business — has damaged many of the smaller, independent retailers in New York's historic diamond district, the stretch of 47th Street between 5th Avenue and 6th Avenue.
Todd Ingwer, a designer who works for his family business, Leo Ingwer, on 47th Street, credits social media with the industry's largest changes.
"If you haven't stayed up on it and you haven't taken it seriously, well, you walk down 47th Street and you see a lot of empty booths," he told Insider.
The fine-jewelry industry appears to be suffering beyond the diamond district. The Jewelers Board of Trade reported last year that 852 US jewelry retailers closed in 2018. By the jewelry-industry analyst Edahn Golan's calculations, fine-jewelry retail sales amounted to $63.8 billion in 2017, with a 60% drop in annual growth since 2000.
By contrast, Ingwer said, some entrepreneurs are taking advantage of changes in the market.
"You're seeing a lot of new companies create what I think is almost an entirely new genre of retail in this industry," he said. "And those who do it well are definitely reaping the benefits, especially those who did it well and got on board early."
Leo Ingwer has effectively adapted to the social-media era by leveraging platforms' space for storytelling, he said.
"Through social media, I can communicate our company story directly to the end consumer," Ingwer said. "So that they understand who we are and what we're about and what makes us remarkable."
Amanda Bynes shared an Instagram photo on Friday showing what appears to be her engagement ring.
"Engaged to tha love of my life," Bynes wrote in the caption.
Insider spoke with engagement ring experts, who said Bynes' ring may be worth up to $600,000.
Experts said Bynes' emerald-cut diamond ring appears to be between seven and 10 carats, has a three-stone design, and is reminiscent of the Art Deco era.
Amanda Bynes announced in an Instagram photo on Friday that she's engaged.
Bynes did not share a photo or any indication of her fiancée, but did post a picture of what appears to be her wearing an engagement ring, writing "Engaged to tha love of my life" in the caption.
A post shared by Amanda Bynes (@amandabynesreal) on Feb 14, 2020 at 5:38pm PST on
The actress was pictured wearing a ring in a selfie she posted on Instagram on February 8, but it's unclear if the jewel photographed here is her engagement ring.
Engagement ring experts told Insider that Bynes' ring could be worth between $200,000 to $600,000
Denis Stepanksy, founder of jewelry store and website ItsHot.com, told Insider that based on the photo, the diamond might be around seven carats.
"If this is a natural diamond, the ring would be worth around $200,000 but might be more depending on diamond quality," Stepansky said. "The price of a good quality seven-carat, emerald-cut diamond is in the range of $190,000 to $240,000 depending on diamond color and clarity."
Ashley Zhang, founder of Ashley Zhang Jewelry, said that she thinks Bynes' ring could be worth even more, depending on the size of the diamond. She estimates Bynes' ring has an eight- to 10-carat diamond.
"A high-quality, 8-carat emerald-cut diamond would start around $600,000," Zhang said.
Bynes' three-stone, emerald-cut diamond ring features tapered baguette accents and is an Art Deco-inspired style
Stepansky said that Bynes' engagement ring style is a great option for someone looking for a classic piece.
"Emerald-cut diamonds date back about 500 years but really became popular in the Art Deco period," Stepansky said. "It's popular with those looking for simplicity and a classic style."
He added that the three-stone ring, which Bynes appeared to show in the Instagram picture, is a popular silhouette because of its meaning.
"Three-stone engagement rings are popular right now as they signify past, present, and future together, so it's a really meaningful ring," Stepansky said.
Jeweler Grace Lee said she thinks the baguette diamonds on Bynes' ring make the piece a more contemporary version of the Art Deco style.
"Baguette diamonds and step cuts are often reminiscent of Art Deco era pieces, but the classic three-stone with tapered baguettes was more popular in the second half of the 20th century," Lee said.
About a decade ago, I lost my wedding ring, which was covered under valuable personal property insurance that costs me about $5 a month.
When I went to file a claim, I realized the importance of getting personal property appraised from time to time: It was probably worth about $1,000 more when it was lost than the last time it had been appraised.
About ten years ago, I lost my wedding ring. It was a horrible feeling. It was a symbol of love and commitment, and an expensive one at that.
When I realized what had happened, I looked everywhere. My home. My workplace. The carrier bag I used to transport materials back and forth between the two. I even scoured my car and checked an old office space I hadn't been inside for six months.
I turned up nothing.
Luckily, I had the ring covered under a valuable personal property policy. My insurance agent had suggested it when I added my husband to my auto insurance policy after our marriage. Valuable personal property policies are so cheap that by purchasing coverage for my ring and bundling it with my renter's and auto insurance policy, I was actually able to save a dollar on my premiums over the course of a six-month period.
Filing a claim was a fairly simple process. I did have to talk to an insurance agent over the phone to tell them what had happened. I was asked for a police report, but as far as I know there was no theft involved; I still don't know where the ring disappeared to.
Loss was covered under my policy, though. The agent then asked me for the date of my ring's last appraisal. I froze.
It's a good idea to have your valuables appraised more than once
What I learned that day is that it's a good idea to get your wedding and engagement rings appraised by a jeweler every once in a while — especially if the market recently tanked.
At an appraisal, the jeweler takes a look at your rings and then writes up a certificate to prove to your insurer the present value of your items. Because I had not gone through the appraisal process since the ring was purchased, the insurance company would only reimburse me for the amount that was listed on the receipt of purchase.
My husband had purchased the ring a couple years before the recession. When the economy is doing well, the price of gold typically deflates. Then, when the economy falls, the price of gold and other precious metals rise, as they're viewed to be more secure than the paper currency which they theoretically back. That means had I taken the ring in for an appraisal after the stock market fell, I would have gotten somewhere between $800 and $1,000 more when I went to file my claim.
A wedding ring isn't the only thing you can insure
Wedding rings aren't the only things covered by valuable personal property insurance. I've also had guitars, tech, and other items covered under such policies. My coverage has grown as my family has, so today, instead of saving a dollar over six months I pay about $4.50 a month for coverage.
Whatever item you're covering with your valuable personal property insurance, be sure to have it appraised periodically. You may not know it yourself, but something may have happened in the market in the past few years to up the value of your property. Without an appraisal, though, you stand to lose out on that appreciation should you ever need to file an insurance claim.
Buying an engagement ring is exciting, but it takes a lot of research. Paying for the ring is something you'll need to consider, too.
There are a few different ways to pay for a ring, including saving and paying outright or taking out a loan.
One of the easiest ways to pay without depleting your cash reserves — and without having to pay interest or loan fees — is to use a credit card with a 0% introductory APR on purchases. That way, you can take your time to pay without having to pay interest (until the introductory period is over).
There are a few options, but our choice for the best card with a 0% introductory APR is the Chase Freedom Unlimited®. After the 15-month 0% introductory period, a 14.99%–23.74% variable APR applies.
Buying an engagement ring is a big deal. It's a thing that takes research, patience, and decisiveness. As Josh Marion, a vice president at Ritani, an online diamond and jewelry retailer pointed out in an interview with Business Insider, buying an engagement ring "is a decision on par with buying a car or a house — you can't just jump into it."
Of course, whenever you start thinking about an engagement ring, it's not long before the cost comes into play. Whenever you decide you're ready to propose to that special someone, how much you spend on the ring, whether you're resetting a diamond that has been in your family for generations or buying a new one, is a personal decision. There's a ton of advice out there, and plenty of schools of thought, but there are no hard and fast rules; ignore anyone who tells you that you absolutely have to spend three months' salary, or that you have to spend a certain amount for each year you've been together.
One thing that's for sure, though, is that you shouldn't spend outside of your means. When you're ready to pop the question, and in a financial position to do so, there are a few ways to pay for an engagement ring. However much you decide to spend, chances are it'll be a lot — likely the most expensive thing you've ever bought. When I proposed to my (now) wife, that was certainly the case — not counting college and grad school, of course.
Keep in mind that we're focusing on the rewards and perks that make these credit cards great options, not things like interest rates and late fees, which will far outweigh the value of any points or miles. It's important to practice financial discipline when using credit cards by paying your balances in full each month, making payments on time, and only spending what you can afford to pay back.
Can you finance an engagement ring?
You do have the option of financing a ring with a loan arranged through your jeweler. Using loans to make major purchases and keep cash on hand can be a smart financial move, and in some cases, the loans offered by your jeweler may fit your needs.
Here are a few of the financing options available through popular jewelers:
Blue Nile: Financing is available via Blue Nile's credit card. Depending on the price of the ring, consumers enjoy 0% APR for the first six, 12 or 18 months after purchasing. If you choose a longer payment plan, with equal payments, there's a 9.99% APR.
Ritani: Ritani offers financing via a Synchrony bank credit card. You can choose from the following options: no interest for 12 months, 9.99% APR for 36 months, or 9.99% APR for 60 months.
Tiffany & Co.: The brand's credit card offers a 0% intro APR for 12 months, or a 7.99% APR for 24 months.
However, jewelers' financing options may not have the best terms or interest rates, and you generally won't get any cash back or rewards on the engagement ring purchase.
Your other payment options
The first, and most obvious, is to save up enough money and buy it outright. However, there are reasons you may not want to do this. For instance, you may want to keep a cash cushion in case of emergency, rather than committing to spending it all at once. After all, that's why people finance things like new appliances or cars.
Fortunately, there's another option, which is what I went with. Instead of taking out a traditional loan, or financing a ring through a credit card offered by the jeweler, you can open a new credit card that has a 0% introductory APR on purchases for a certain amount of time.
Why I used a credit card with an intro APR offer
When I bought the ring, I opened a card that had a 0% introductory APR for the first 15 months. That meant that instead of paying cash all at once, I was able to charge the ring to the card, and pay it off over a bit more than a year without having to pay any interest. As a nice cherry on top, I even got a sign-up bonus for opening the card, and cash back on the ring itself, which I was able to put right toward paying it off.
It was basically free money for buying the ring.
The key is that you make sure you pay off the whole thing before the introductory APR ends and the normal one becomes effective. In my case, I decided to be safe and divided the total cost of the engagement ring by 14. I paid that amount each month, and that way, I was finished paying off the whole thing a month early.
A great feature is that you have extra flexibility if you go this route. If you come into some extra cash, or decide that you want to just finish the payments from savings, you can pay off the balance in full at any time.
The best credit cards with 0% APR offers
While there are a few different cards that offer introductory APRs, the one I would pick now is the Chase Freedom Unlimited®.
That's because in addition to offering a long 15-month term on the 0% introductory purchase and balance transfer APR (which goes up to a normal 14.99%–23.74% variable APR afterward), it offers 1.5% cash back on every dollar spent, and a sign-up bonus of $150 after you spend at least $500 in the first three months of opening the card.
Put another way, if you were using the card to finance a $3,000 purchase, you'd get $195 total cash back.
Plus, if you have a premium card from Chase, like the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card, you can turn your Chase Freedom Unlimited®cash back into Chase Ultimate Rewards points instead, and move those points to the premium Chase card. That way, you can do things like transfer Chase points to frequent flyer partners, which is usually a much more lucrative way to use them than redeeming as cash back.
Here are some other cards with intro APR periods for purchases:
Blue Cash Everyday® Card from American Express: 0% intro APR on purchases for 15 months (then 12.99% to 23.99% variable APR)
Citi Simplicity® Card: 0% intro APR on purchases for 12 months from date of account opening (then a rate of 14.74% - 24.74% (Variable))
Bottom line
Regardless of which route you choose to go toward paying for the ring, this is an exciting time, but you have a lot of research to do. If you're not sure where to start, Ritani offers a number of guides on picking out diamonds and settings, as well as how to go about actually buying the ring. And check out Insider Picks' guide to the best places to buy engagement rings online.
Jewelry is the preferred gift for Valentine's Day, and the holiday is also one of the most popular days to get engaged. It is also when most customers come in to insure their jewelry, according to Bryan Howard, Director of Product Management at Jewelers Mutual.
If you're purchasing expensive jewelry, such as an engagement ring, you'll want to make sure it's properly insured. Most homeowners and renters insurance policies have coverage limits for jewelry, so you may need to purchase additional insurance to cover your purchase if it is lost, stolen, or swallowed by the family pet.
Do you need jewelry insurance?
If you're purchasing jewelry, ask yourself the following questions to decide whether you need insurance.
Can I afford to spend that much money on another ring if I lose it? If not, then you need jewelry insurance.
Is your jewelry worth more than the standard limit of your homeowners or renters insurance policy? If yes, you need to add a special jewelry rider or purchase stand alone jewelry insurance. Howard noted that standard homeowners and renters coverage is up to $2,500 for lost or stolen jewelry.
Note that jewelers can't sell insurance themselves; they can only provide a warranty to cover manufacturing defects or damage, but not loss or theft.
Your home insurance policy may not be enough
Most homeowners and renters insurance policies only offer limited coverage in the event that jewelry is damaged or stolen. If you have an engagement ring, heirloom, or other special jewelry pieces, you'll need to get special coverage beyond your homeowners or renters policy.
Lost or stolen jewelry is covered under "named peril" for homeowners and renters insurance. An insurance peril is an event that may damage your home or belongings, like theft, fire, or a storm.
Homeowners insurance falls into two categories: named peril and all (open) peril. A named-peril policy covers you for listed events, like a fire, storm, or theft. An all (open) peril policy covers just about anything that might happen, unless your policy specifically notes that it's not covered.
The difference between homeowners/renters insurance and standalone jewelry insurance is the type of peril coverage. Jewelry would fall under a named peril with a homeowners or renters insurance policy, but under a floater or add-on rider policy it will include named perils and some accidents. With personal jewelry insurance, on the other hand, both named and open peril are included — meaning any event is covered.
Here's a comparison of the jewelry coverage you can get with homeowners or renters insurance, a floater or add-on rider policy for homeowners or renters insurance, and a standalone jewelry insurance policy such as Jewelers Mutual.
Coverage
Homeowners/renters insurance
Floater or add-on rider to home insurance
Standalone jewelry insurance
Loss
No
Yes — appraised value
Yes — appraised value
Theft
Yes*
Yes — appraised value
Yes — appraised value
Damage
**
**
Yes — appraised value
Mysterious disappearance (unexplained loss)
No
Yes — appraised value
Yes — appraised value
Claims process
May require you to use jeweler of insurance choice. May require multiple estimates.
May require you to use jeweler of insurance choice. May require multiple estimates.
Repair or replacement with same kind and quality (up to the value on your policy) from the jeweler of your choice; no need for multiple estimates
Effect of claims
Claims may affect status of entire policy, including coverage for your home
Claims may affect status of entire policy, including coverage for your home
No increase to your Jewelers Mutual policy premium
3 options for getting extra jewelry insurance coverage
Request an increase on your liability limit for homeowners or renters insurance
You can ask your homeowners insurance to increase your liability limit, but note that "the amounts are still limited for both individual pieces and overall losses," according to the Insurance Information Institute.
Purchase a floater or add-on rider under your homeowners or renters insurance
You can purchase a floater or add-on rider for special jewelry on your homeowners or renters insurance policy. The Insurance Information Institute notes that although this is more expensive, it offers the broadest coverage. Your jewelry must be appraised before purchasing a floater. If you make a claim under your floater for your jewelry, it may impact your rates for your homeowners and renters insurance.
Purchase standalone jewelry insurance
Howard told Insider that unlike a homeowners policy, "a standalone jewelry policy is a comprehensive, all perils policy, meaning it covers every type of loss unless specifically excluded."
With standalone jewelry insurance, your jewelry must be appraised. However, insurance company Chubb, which offers standalone jewelry coverage, doesn't require appraisals for jewelry valued under $100,000 — so in some cases you may be able to get around this.
Howard noted that the premium for personal jewelry insurance is typically 1-2% of the item value. The premium will also be based on where you live, who's wearing the jewelry, and the deductible.
Ronda Lee is an associate editor for insurance at Personal Finance Insider covering life, auto, homeowners, and renters insurance for consumers. She is also a licensed attorney who practiced litigation and insurance defense.
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