Rounds, white metals hold sway in bridal

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Rounds, white metals hold sway in bridal

By Catherine Dayrit

April 27, 2009

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The economy might be in the dumps, but the bridal market has always been perched above it all in terms of consumers' willingness to spend. Joseph Ceylan, vice president and chief operating officer of Unique Settings of New York, puts it perfectly: "Marriage will never go out of style," he says, adding that individual engagement ring tickets might be falling, but American consumers are still getting engaged.

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The Stats: According to the Diamond Information Center (DIC), more than 2 million diamond engagement rings were sold in 2007 (the latest figures available), with 25 percent classified as solitaires and 23 percent tagged as three-stone diamond rings. In terms of shape, round cuts took the cake, with 48 percent of brides-to-be slipping on round-cut engagement rings. As for diamond wedding bands, more than 1.2 million were sold that same year.

Design Trends: White precious metals--whether platinum or white gold--continue to dominate the bridal market, and while colorless diamonds do too, designers are also creating rings and bands in rose or yellow gold, or with small splashes of color, catering to brides and grooms seeking unique looks. While one bridal designer says customers are increasingly asking for smaller bands that feature fewer diamonds in favor of design-oriented details such as engraving, another says that eternity bands and pave looks continue to gain strength, especially at the high end. Heirloom-style designs remain much requested as well.

Price Points: The average price for a diamond engagement ring in 2007 was $3,255, according to the DIC. Broken down into retailer categories, the average ticket was higher for independent retailers and small chains, which sold engagement rings at an average price of $4,823, followed by large chains, where the average ticket was $2,671, and then department stores, where tickets averaged $1,766.

Metals Issues: Ceylan, of Unique Settings of New York, notes that white gold remains the most popular metal for bridal. Lately though, the metal has found competition in platinum, for which prices dipped into the $700 range this winter, from a high point of above $2,000 in the summer of 2008. Lower pricing has given bridal customers extra incentive to choose the durable white metal over its competitors, including bridal newcomer palladium. While some designers have lauded palladium's attributes, including its natural white color, others say it remains a tough sell because consumers still do not know about it.

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