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According to a survey from The Knot.
Engagement rings: They’re a big deal.
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And they’re also a big business. In 2012, US couples spent around $11 billion on engagement and wedding rings.
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Wedding site The Knot recently surveyed 14,000 users to find out their engagement ring habits, and came up with a surprising array of data.
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Among the data: people tend to spend around 3-1/2 months looking for an engagement ring, and the most popular rings are round cut stones.
Perhaps most surprisingly, the average engagement ring now costs $6,351.
And most people look at at least two dozen rings before settling on the one they want to propose with. So many rings!
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Business Insider partnered with jeweler Ritani to determine where the most and least expensive rings are purchased.
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Utahns spent the least on rings, averaging $3,518 per sparkly bauble.
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While Californians spent the most — averaging $10,241 per ring.
DAMN.
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Other states at the lower end include Vermont ($3,941); South Dakota ($4,832); and Minnesota ($5,630).
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States that spent more on average included Massachusetts ($8,426); North Carolina ($9,225); and Wisconsin ($8,766).
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