Non-Diamonds Girls' Best Friend? CBS News
Diamonds have been used for centuries to show eternal love. But today, not all brides will walk down the aisle wearing a diamond ring. In an effort to save some money, some couples are bucking the trend and are trying out some sophisticated diamond alternatives.
"Early Show" 's consumer correspondent Susan Koeppen reported diamonds have become a symbol of lasting love.
Jerry Ehrenwald, chief executive officer of the International Gemological Institute , told CBS News ,"There's no gemstone that has the brillance, the scintillation, the fire the sparkle that a diamond brings to the eye."
Americans spend nearly $30 billion a year on diamonds. However, with the current state of the economy, some couples are opting for non-diamonds and diamond lookalikes instead of the $5.5 billion dollars expected to be spent on engagement rings in 2010. Instead, Americans will spend $385 million on non- traditional engagement rings with sapphires at the top of the list.
Millie Martini Bratten, editor in chief of Brides magazine, said, "As individual as people are there are that many types of rings available today."
When Beth Dicastro got engaged, she opted for something other than a diamond.
"I knew we could build something, and it didn't have to cost 20, 30, 40 50, thousand dollars," she said.
Her 10-carat stone is made of a substance called moissanite.
Jon Rapasky, Dicastro's finance, said, "I can get her a bigger size ring for a fraction of the cost."
Dicastro and Rapasky
