Valentine’s day is fast approaching. Inside sock drawers around the world, men (and a few women) will be hiding rings intended to convey their everlasting love. Since De Beers, the world’s leading diamond company, ingeniously announced that “diamonds are forever” in the 1940s, most engagement rings have included a diamond—and an expensive one at that. The average American will spend $5,000 on the band for their proposal.

This article appeared in the Finance & economics section of the print edition under the headline “Wedding crasher”