Insty points to an article that suggests men are not spending as much as they used to on engagement rings.
Personally, I think a man would have to be nucking futz to spend $8K for a ring, ever. As I recall, I spent $1,800 $1,300* in 2000 for Sally's ring and she still loves it. In fact, she would have shot me if I'd paid more than that. "More money for the honeymoon" is the way I believe she put it.
And our plain gold wedding bands were $100 apiece.
[EDIT TO ADD:] This one chick right up top in the comments: "I got a decently cheapie ring in gold, which sucks because he very well knows I am not a fan of gold jewlery, but oh well at least I got one."
Bitch, you're lucky you got MARRIED. I feel sorry for your husband. Henpecked probably isn't the half of it.
* As I got to thinking about it last night, I realized I did NOT pay $1,800; I paid $1,300. Of course that would be $1,705 in today's dollars (which, and not to make an issue of it, isn't even half of my monthly take-home -- although it was a significant expense compared to income 11 years ago, but still not 3 months' pay -- and where did that shit come from? I always heard it was 2 months). Oh, and by the way: She picked it out. I proposed to her in the jewelry store. We had taken a ring of mine in to be repaired and we were looking at stones "just for the heck of it", and she saw a marquee cut she really liked...and I said, "Do you want it?" And the rest is herstory. LOL
If you are a woman, and you got an engagement ring and don't like it, there is only one decent and appropriate response. Return it to the giver before the wedding. If you're going to complain about it after the wedding, somebody made a mistake.