Some women fantasize about having the man of their dreams go down on one knee and proposing marriage, while men often stress about the size and price of the engagement ring diamond.
This cultural practice has been going on for centuries but it was not until the 1930s that the size of the diamond really mattered.
The ancient Egyptians are credited with having invented the engagement ring, and the ancient Greeks with having adopted the tradition.
However, the first well-documented use of a diamond ring to signify engagement was by Archduke Maximilian of Austria in the Imperial Court of Vienna in 1477. This then influenced those of higher social class and of significant wealth to give diamond rings to their loved ones.
The idea that a man should spend a huge chunk of his annual income on an engagement ring originated from De Beers marketing material in the mid-20th century. This was the company’s effort to increase the sale of diamonds.
In the 1930s, it was expected of a man to spend the equivalent of one month’s income on the engagement ring. According to Business-tech, the average cost of an engagement ring is between R20 000 and R40 000 nowadays.
In the United States, a man who broke off an engagement in the times of Great Depression could be sued for breach of promise.
Monetary damages included actual expenses incurred in preparing for the wedding, as well as damages for emotional distress and loss of other marriage prospects. Damages were greatly increased if the woman had engaged in sexual intercourse with her fiancé. Beginning in 1935, these laws were repealed.
However, the social and financial cost of a broken engagement was no less: marriage was the only financially sound option for most women, and if she was no longer a virgin, her prospects of a suitable future marriage partner were greatly decreased.
The engagement ring thus became a source of financial security for the woman.
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