Expensive Engagements

Physician's Money Digest, August 2005, Volume 12, Issue 12

Newsweek

Newsweek

If you're a doctor in love looking topop the big question, you'd better checkyour bank account first. According to anarticle in , women are becomingmore and more enamored with large caratdiamond engagement rings. Whileyou can't put a price on love, there is certainlya high price on one of its symbols.A persistent marketing push from the diamondindustry coupled with growingcelebrity marriage media exposure isheavily influencing a trend toward largerstones. The Gemological Institute ofAmerica reports that since 2000 theyhave seen a 41% rise in orders for diamondsthat are two carats or above.Carley Roney, founder of TheKnot.com,tells , "For a long time, theone-carat stone was basically the standard.But for a growing set of people, it'sjust not good enough anymore." Fortunatelyfor your wallet, there are a fewdiscount options available if your fiancéeisn't picky about where the ring comesfrom. The article points out that lower priceddiamond rings can be found atWeb sites such as BlueNile.com, orthrough retail stores such as Wal-Mart.