Asda is selling a £1 engagement ring—but would you wear it?

Asda has just launched a £1 engagement ring for Valentine's Day so that lovestruck singletons can propose to their lovers but on a budget!

When it comes to engagement rings, some of us are after the best celebrity engagement rings, while others feel confident that once you know how to style rings, it doesn't matter what the price point is. But what if your ring cost considerably less than the traditional three months income? What if your engagement ring was only £1?

Asda has just launched an extremely affordable engagement ring that's priced at just £1 and is styled as a traditional solitaire diamond engagement ring. The ring has been launched just in time for  February 14, meaning it could be the perfect Valentine's Day gift idea for your partner, although the item has divided shoppers...

Shoppers across the UK have been amused by this new jewelry item and many have taken to social media to share their thoughts. 

"Just read that Asda launched a £1 engagement ring for Valentine’s Day… I find that so… hilariously British," said one shopper on Twitter.

"Well I suppose it's better than a Haribo ring!" said another fan on Facebook.

Others suggested that it was really the "thought that counts," and one fan added, "It shouldn't be about how much was spent, it's how much it means." 

Others even suggested that this ring could be a handy placeholder if you're saving for a more expensive ring or perhaps a fun toy for children who wanted to add this to their fancy-dress costumes.

However, some fans have been less than impressed by this £1 ring and many have suggested that they would refuse a proposal if they were presented with this ring.

"If someone asked me to get engaged with a £1 ring, I'd tell him to b**ger off," said one shopper on Facebook.

George Home Valentine's Engagement Ring, £1 |Asda 

This silver-colored £1 ring from Asda's George Home range is presented in a heart-shaped red box and features a bright diamond-style stone.

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Poundland also sells a similar £1 engagement ring item that is almost identical to Asda's item, and the brand was quick to spot the copycat item.

Poundland decided to call out Asda and comment on this dupe that they labeled a 'knock off' in a tweet that read, "Hi Asda What do they say about imitation and flattery? Nothing says "I Love You" like the original £1 #Poundland Bling Ring. Available in our stores nationwide #KnockOffLove."

It seems that bargain-hunters will have two low-cost options when it comes to thrifty engagement rings this Valentine's Day!