An engagement ring symbolizes a commitment to marry, primarily in Western cultures. Typically given as a gift during a marriage proposal, it represents a formal agreement to marry. In many Western countries, it's commonly worn by women and often features diamonds. While traditions vary globally, it is most often worn on the ring finger of the left hand. In some instances, couples may wear matching rings during engagement, and engagement rings can also serve as wedding rings.
Priscilla Presley's engagement ring from Elvis was a stunning piece featuring a 3.5-carat diamond surrounded by 20 smaller diamonds that could be detached and worn separately. The ring was a unique and extravagant symbol of their love.
In 1917, the case Jacobs v Davis decided that the gift of an engagement ring in England and Wales is presumed to be an absolute gift, but can be rebutted if it was given on the condition that it must be returned if the marriage does not take place.
Beginning in 1935, laws allowing women to sue a man for breach of promise if he broke off an engagement were repealed or limited, impacting the financial security traditionally associated with marriage.
In 1938, the diamond cartel De Beers initiated a marketing campaign to revitalize engagement ring sales, which were declining during the Great Depression. Market research also indicated that engagement rings were losing popularity with younger generations.
In 1939, De Beers began the advertising phase of their marketing campaign. This included educating the public about the 4 Cs (cut, carats, color, and clarity) of diamonds to promote diamond engagement rings.
After 1945 in the USA, the rise in engagement ring sales has been linked to the abolishment of the "breach of promise" law. This law had allowed women to sue their fiancés for damages if the engagement was broken off, providing financial security.
In 1947, De Beers introduced the slogan "a diamond is forever" as part of its marketing campaign to emphasize the importance and timelessness of diamond engagement rings.
In 1959, a ruling regarding engagement ring returns was made, but later overturned in 2024 by Massachusetts, adopting a no-fault return policy.
By 1979, diamond sales in the United States had increased from $23 million to $2.1 billion since the start of the De Beers marketing campaign in 1939, highlighting the campaign's success.
In 2001, the case of Meyer v. Mitnick (Michigan) ruled that engagement rings are conditional gifts and should be returned to the donor if the engagement is broken, regardless of fault.
In 2012, the industry reported that the average cost of an engagement ring in the US was US$4,000.
A 2015 scholarly study revealed that almost a quarter of couples didn't buy an engagement ring, and another third spent less than US$2000 on it. Less than 15% of couples spent $4,000 or more.
In 2024, Massachusetts adopted a no-fault return policy for engagement rings, overturning a 1959 ruling. The decision cited the state's adoption of no-fault divorce as an indication of modern expectations.
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