(WXYZ) - Finding the perfect rock could make your wallet hit rock bottom.
According to a new study from The Knot, people spend an average of $6,351 on an engagement ring before the big proposal.
That's reportedly up from $5,095 in 2011.
People also look at an average of 26 rings before making the final decision, according to the study.
The Knot 2017 Jewelry & Engagement Study also revealed that the average carat size for the total ring is 1.8 carats and the most preferred cut is round, with 52 percent of the vote.