My dad bought my mum's for £1100 in the 70s.
And that's the ring I wear now.
I've looked at rings, but personally I cannot validate spending money on jewellery. Any jewellery

Mine was $50k

10k

Mine was $12000 but my hubby bartered the price down to abt 10k or a bit under. It equated to roughly 3 months of work at that time. It’s worth it. A gorgeous ring and he really did his homework.

Mine was $100.
I lost it within a year, got another one again for $100 (at sales I think they were down from 400
And lost it again. Actually I lost the first one before we actually got married so we bought the cheapest one there to marry with it was a small island so we paid like $80 for a plain thin silver band. That one actually lasted the longest, till I lost it lol

Iv never gotten. New one since
Hubbys is a solid silver band for like $80, hasn’t left his finger in 7 years lol

Mine was about $12,000, my husband said it's tradition to spend 3 months wages on an engagement ring and that was his wage when we were young. I don't know if that's just his family. I wear an opal ring he bought me when we were travelling instead usually because I'm terrified I'll lose the diamond.

What ever you do, do NOT go near chain stores. My brother bought an engagement set for his gf, spent $4000 for the wedding/ engagement ring set.. when they split he asked me to deal with the ring, camels wouldn’t give him more than $200 despite it only being bought from them for four months prior. I eventually found a hold buyer that took it for $500.
The diamonds were so small there were worth nothing. They even had made up the certificate of authenticity saying it was worth $4000

Spend the extra money on creating an individual one of a kind where they guarantee the quality of the stones.

$150.

I got a set from Michael Hill in 2013 on sale for $1500 roughly. I think it's the though that counts not the price. You marry for love not the ring. I no longer wear my rings instead I opted for a $10 band from Lovisa as in my job wearing those we're not easy as they rip gloves etc

$4,000. Enough to design what I wanted with a decent quality diamond. That was 12 years ago though.

Mine was $490 suits my petite fingers

My original engagement ring I think was around $300. It was beautiful, and not a typical engagement ring, but the shape wasn't practical, ie the diamonds sat too high, so would catch on things. I then got a bridal set (engagement and wedding ring) for $1000 from Michael Hill. I only wear them a few times a year. It really depends how much you are willing to spend, and how much you are willing to lose if you lose your ring. (Add it to your insurance if it costs a lot).

I think it’s relative to your income and lifestyle. Think about if it’s actually going to be worn and under what circumstances. Eg I’m a nurse and my work policy is no rings with stones while in contact with patients, so I don’t wear mine to work.
Keep an eye out for sales, do not pay full price.
Also consider the thickness of the band. You ideally want it to last a lifetime so make sure it’s thick enough to withstand daily wear and not a thin band that will wear over time.

Wait for sales! You could get a $3000 for $1500, or $2000 for $1000. Even a $1000 for $5/600.
It's still a large amount for many regular Aussies but $1000-1500 I'd say is probably average.
I know myself, I'd much prefer something bought in a sale, that didn't cost 2 months rent or the monthly mortgage repayment.
In theory it's about the love and committment, not bragging rights hey??

Depends on the income. Mine was $4600 but it was antique so not sure how measures up against pricing for a brand new ring.
My advice don't get one too big they're really not practical.

Mine was $3000. Not that I cared how much it was, a $20,000 ring and a $1000 ring looks the same to me.

I don't think there's a right and wrong answer here, it depends on your financial situation and your own personal likes. A millionaire could spend $5000 on a ring and it would be seen as stingy but if an everyday Joe spent that much it would be a lot. Some women don't like the traditional gold and diamond ring or to wear expensive jewellery either.