HeadlinesHere’s the Millennial Engagement Ring Trend Everyone Is Talking About Published 3 years agoon March 17, 2017By INSTORE Staff Share Tweet Are old traditions losing their sparkle?A spate of articles this month touted a new trend for millennials buying engagement rings.They’re going for color.Refinery 29 explains that couples “are increasingly choosing colorful stones such as rubies, emeralds, and sapphires” when they get engaged. The Telegraph, also reporting on the trend, states that diamonds are “losing their sparkle” among millennials. Allianz, an insurance company, has found that millennials spend an average of 573 pounds, or $711, on an engagement stone. Many couples prefer to spend their money on education, housing or travel, according to the Telegraph.Colored gems are often seen as being more distinctive compared to traditional diamonds, the newspaper reports.They’re also perceived as being cheaper, though that doesn’t always hold true. Prices for colored gemstones “have absolutely skyrocketed in recent years,” said John Benjamin, an expert in antique jewelry, according to the Guardian. Advertisement“In auction, we’re seeing prices that we never saw before, it is a very different sort of marketplace from the old days when coloured stones could be bought, frankly, very cheaply in auction,” he said.And despite all the headlines about millennials turning away from diamonds, De Beers said in a recent report that in 2015, they spent nearly $26 billion on diamond jewelry in the largest four markets combined — the U.S., China, India and Japan. That amounted to 45 percent of the total retail value of new diamond jewelry acquired in those markets.According to De Beers, millennials “represent a source of considerable future potential for the sector.”Read more at Refinery29Related Topics:bridal jewelrycolored gemstonesdiamond jewelrydiamondsengagementsMillennials click to Comment(Comment) Advertisement SPONSORED VIDEOWilkerson TestimonialsTo Generate Funds for a Jeweler’s Move and Remodel, Wilkerson More Than DeliveredEven successful jewelers need a little extra cash to fund expansion plans—especially when there’s inventory on hand that’s ripe for liquidation. For Beaumont, Texas-based jeweler Michael Price, co-owner of Mathews Jewelers, it was the perfect time to call Wilkerson. Price talked to other jewelers as well as vendors for advice during the selection process and decided to go with Wilkerson. And he wasn’t disappointed. When it comes to paying for the move and expansion, Price says the road ahead is clear. “When we close on the next two stores, there’s no worries about finances.”You may like Fortuna Completes First Sale of New Decade Fancy Pink Diamonds Have Soared 116% in Value in the Past 10 Years From Sunrise Hues To Classic Blue, Here Are 18 New Colored Gemstone DesignsPromoted Headlines To Generate Funds for a Jeweler’s Move and Remodel, Wilkerson More Than DeliveredWilkerson The Jewelry Retailer’s Ultimate Marketing Guide: Part 5/5RapNet True Romance – Jewelry Straight From the HeartAdvertisementLatestTrendingVideos Editor's Note13 hours agoConsidering a Big Risk? Make Sure It’s Personally Rewarding Brainstorms13 hours agoWhy a Mood Board Can Help You Connect with Your Customer True Tales13 hours agoOnly Daddy’s Little Girl Could Get Away With This Headlines6 days agoPepsi Launches Engagement Ring Made with Diamond, Platinum and Crystal Pepsi (Video) Best of The Best5 days agoWhy a Washington, DC, Jeweler Honored a 50-Year-Old Gift Certificate Headlines1 week agoVideo: Chicago Estate Jeweler Edward Kahn, Holocaust Survivor, Dies at 103 Jimmy Degroot7 days agoVideo: How to Make Huge Changes in Your Business Headlines1 week agoVideo: Chicago Estate Jeweler Edward Kahn, Holocaust Survivor, Dies at 103 Headlines2 weeks agoVideo: Jeweler Wins Fight for $500,000 Snow Promotion Claim Advertisement AdvertisementSubscribeBULLETINSINSTORE helps you become a better jeweler with the biggest daily news headlines and useful tips. (Mailed 5x per week.) Latest Comments Most Popular Headlines6 days agoPepsi Launches Engagement Ring Made with Diamond, Platinum and Crystal Pepsi (Video) Best of The Best5 days agoWhy a Washington, DC, Jeweler Honored a 50-Year-Old Gift Certificate Headlines1 week agoVideo: Chicago Estate Jeweler Edward Kahn, Holocaust Survivor, Dies at 103 Columns1 week agoFancy Pink Diamonds Have Soared 116% in Value in the Past 10 Years Photo Gallery7 days ago27 Savage Memes That Perfectly Capture the Manager-Employee Relationship Brain Squad5 days agoINSTORE Readers Report Successful Valentine’s Selling Period Jewelry Pro Gear6 days agoA Bench Book, Concrete Jewelry Holders and More Jewelry Pro Gear for February The Jeweler Cartoons6 days agoCartoon: Some People Wear Their Rings for Way. Too. Long.