News

Cost matters when it comes to putting a ring on it

HIGH EXPECTATIONS: NSW had the lowest proportion of respondents who said the cost of the ring didn't matter.
HIGH EXPECTATIONS: NSW had the lowest proportion of respondents who said the cost of the ring didn't matter. Patrick Woods

NSW was found to be the most materialistic state when it came to the cost a of an engagement ring.

According to a survey of 1000 people commissioned by Slater and Gordon Family Lawyers it was found NSW had the lowest proportion (45%) of respondents who said the cost of the ring didn't matter.

Whereas almost half of Australians (48%) surveyed thought the cost of the engagement did not matter.

The survey revealed Australians are most likely to pay $3311 for an engagement ring.

Victorians who believed the cost of the ring mattered had the highest expectations, with $4046 the average price.

Western Australians had the highest percentage (54%) who said the cost of the ring did not matter.

Queenslanders had the lowest average ring cost expectations ($2249).

The younger generation (25-34) had the highest cost expectation ($4569) while over-55s were the least materialistic ($2358).

Engagement rings and the law

a) If a woman who has received a ring in contemplation of marriage refuses to fulfil the conditions of the gift, she must return the ring;

b) If a man refuses to carry out his promise of marriage, without legal justification, he cannot demand the return of the ring;

c) It is irrelevant whether the denial of the promise turns out to benefit both parties;

d) If the engagement is ended by mutual consent, then in the absence of any agreement to the contrary, the engagement ring and similar gifts must be returned by each party to the other.

Topics:  engagement ring family law slater and gordon weddings



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