Engagement rings: How much Australians are willing to pay and who gets them if things go wrong.

New research shows Australians are divided when it comes to engagement rings. One half says "the cost of the ring doesn’t matter". The other half says $3,311 is "about the right amount to spend, on average". But who is right, and what happens to the engagement ring if the wedding is called off?

Symbol der ewigen Liebe: Der Verlobungsring Source: Flickr

The research among 1,000 people, commissioned by an Australian Law Firm, shows:

• Men are willing to spend $376 more than women on average ($3,487 for men, $3,111 for women).

• Men (40 per cent) are much less likely to say the cost of the ring doesn’t matter, compared to women (55 per cent).

• Victorians have the highest expectations, quoting $4,046 as the appropriate average price.
• Queenslanders have the lowest average expectations for the cost of the ring ($2,249).

• 25-34 year olds have much higher expectations ($4,569) than the over 55s ($2,358).

And just in case it matters: This is what happens if a couple breaks up before walking down the aisle:

Source: Slater and Gordon Source: Supplied