According to a survey from the Knot.

Engagement rings: They're a big deal.

Engagement rings: They're a big deal.

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And they're also a big business. In 2012, US couples spent around $11 billion on engagement and wedding rings.

And they're also a big business. In 2012, US couples spent around $11 billion on engagement and wedding rings.

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Wedding site the Knot recently surveyed 14,000 users to find out their engagement ring habits, and came up with a surprising array of data.

Wedding site the Knot recently surveyed 14,000 users to find out their engagement ring habits, and came up with a surprising array of data.

Hulu

Among the data: People tend to spend around 3 1/2 months looking for an engagement ring, and the most popular rings are round-cut stones.

Among the data: People tend to spend around 3 1/2 months looking for an engagement ring, and the most popular rings are round-cut stones.

beverlydiamonds.com

Perhaps most surprisingly, the average engagement ring now costs $6,351.

Perhaps most surprisingly, the average engagement ring now costs $6,351.

And most people look at at least two dozen rings before settling on the one they want to propose with. So many rings!

HBO

Business Insider partnered with jeweler Ritani to determine where the most and least expensive rings are purchased.

Business Insider partnered with jeweler Ritani to determine where the most and least expensive rings are purchased.

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Utahns spent the least on rings, averaging $3,518 per sparkly bauble.

Utahns spent the least on rings, averaging $3,518 per sparkly bauble.

Warner Bros.

While Californians spent the most — averaging $10,241 per ring.

While Californians spent the most — averaging $10,241 per ring.

DAMN.

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Other states at the lower end include Vermont ($3,941), South Dakota ($4,832), and Minnesota ($5,630).

Other states at the lower end include Vermont ($3,941), South Dakota ($4,832), and Minnesota ($5,630).

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States that spent more on average included Massachusetts ($8,426), North Carolina ($9,225), and Wisconsin ($8,766).

States that spent more on average included Massachusetts ($8,426), North Carolina ($9,225), and Wisconsin ($8,766).

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