The Goods

All Your Burning Questions About the $93,000 Ring Pete Davidson Allegedly Bought for Ariana Grande, Answered

Like: How much does an SNL cast member make, anyway??

LOS ANGELES, CA - JUNE 02:  (EDITORIAL USE ONLY. NO COMMERCIAL USE) Ariana Grande performs onstage during the 2018 iHeartRadio Wango Tango by AT&T at Banc of California Stadium on June 2, 2018 in Los Angeles, California.  (Photo by Rich Polk/Getty Images for iHeartMedia )
Ariana Grande.
Rich Polk/Getty Images

Barely 24 hours have passed since news broke of Ariana Grande and Pete Davidson’s whiplash-fast betrothal—aka the engagement between one of America’s biggest pop stars and the guy from Saturday Night Live who once got his wardrobe upgraded by Tan France. This comes on the heels of  24 days of Instagram canoodling and two high-profile break-ups: Davidson from comedian and noted Larry David progeny Cazzie David and Grande from rapper Mac Miller. Updates about the reported engagement are coming out as fast as the relationship progressed, including reports that Miller is “devastated,” fan theories that the relationship has been going on for far longer than any casual observers could have guessed, and most eye-poppingly, details about the insane engagement ring that Davidson allegedly presented to Grande.

For anyone who enjoys the low-stakes drama of celebrity romances, the TMZ report that Davidson dropped $93,000 for a custom ring would, of course, raise a whole host of new questions.

The ring cost how much?

Allegedly, $93,000. Some might wonder: if you’re going to pay $93,000 for a piece of jewelry, why not cough up the extra seven grand for an even $100,000 price tag? But the couple seems quirky enough to not care about particulars like round numbers. Hopefully they’re not too quirky and got this ring insured.

How much would insurance even cost for a ring like that??

Assuming annual insurance is 1 to 2 percent the value of the jewelry, this one would probably cost between $930 and $2,000 per year to insure.

What does it look like?

Colossal, of course. You can behold it here.

Is there some general rule for how much engagement rings are “supposed” to cost?

Indeed, there is a dumb “rule,” sometimes cited even though it is ludicrously unreasonable, that engagement rings should cost between a month and three months’ worth of salary. Whether or not that’s pre or post-tax is under debate.

Where did that terrible rule come from in the first place?

Apparently from a very effective marketing campaign by the De Beers diamond cartel in the wake of the Depression.

Sounds about right. Well, just for the purposes of this exercise, let’s assume that Davidson abided by this fake rule and shelled out, say, two months’ salary for Grande’s grande ring. How much does Pete Davidson even make as an SNL cast member? 

While it’s widely assumed that Grande is the primary breadwinner in this relationship, Davidson isn’t exactly hurting for cash. If he was snookered by the De Beers rule, he should theoretically be making $558,000 a year to make the ring “affordable.” There’s no public information on SNL salaries but Parade estimates the cast members can make up to $24,000 a show. Forbes, meanwhile, estimates that cast members likely don’t make much more than $500,000 a year. Assuming that, as a fourth-year regular, Davidson’s salary trends toward the upper middle of the pack, let’s take a very wild guess and say he is making $300,000 for a 21-episode season. That would put the $93,000 ring at … a considerable reach. But hey, can’t put a price on true love right?

How long would a ring like the one Ariana Grande got even take to make? This was quite a turbo-charged engagement.

Contrary to popular belief, love apparently is not patient because Davidson reportedly picked up the ring last month, the same month he and Grande both split from their exes. Grande was spotted wearing the ring on June 2. According to TMZ, the VVS1 clarity 3.03 carat pear diamond ring set in platinum (lol) reportedly took New York City jeweler Greg “Mr. Flawless” Yuna almost two weeks to complete. So Davidson commissioned the ring in mid-to-late May, no more than two weeks into his relationship with Grande.

Wait, the jeweler’s name is Mr. Flawless?

According to TMZ! And he’s designed jewelry for Drake, Floyd Mayweather, and Cee Lo Green.

I don’t know what to do with this information.

Me neither. Except, I guess, look upon the American wedding-industrial complex and despair.

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