Given by one party to the other to mark an accepted proposal of marriage, 

traditionally and still most commonly, a man giving the ring to a woman. The

practice has evolved over centuries – the first recording of rings to symbolise

upcoming nuptials are during Roman times when a man would give his future wife

an iron ring to wear at home, and a more decorative gold ring for occasions, both

symbolising his ownership of her. Diamond rings were given as far back as 1477,

when Archduke Maximilian of Austria presented a decorative diamond ring to

Mary of Burgundy to mark their betrothal. Although their popularity is a modern

construct, the result of an inventive marketing campaign cooked up by De Beers

in the 1940s, increasing diamond sales with the slogan ‘A Diamond Is Forever’.