At one time in your life, your engagement ring and wedding ring were symbols of your love and devotion to your spouse. But now that you're divorced, they're nothing more than physical pieces of jewelry -- and perhaps reminders of the bitterness that ensued towards the end of your relationship. Should you sell your engagement ring and wedding band? Here are some tips to help you decide, as well as a few guidelines to follow if you do decide to sell.
Deciding If You Should Sell
Ask yourself a few questions to determine whether you should sell the rings or continue to hold onto them.
How much are they worth?
If you don't know the value of the rings, have them appraised by a reputable jeweler. If the rings are worth a lot and selling them would change your quality of life -- maybe by allowing you to finally pay off high-interest debt, go back to school, or move into a safer apartment -- selling is probably a good option. But if the amount of money you would get for the rings would only be enough for a few new outfits or restaurant meals, you'll want to spend more time weighing the other factors discussed below since selling the ring will be more of an emotional decision than a financial one.
Do you have a son who might be disappointed if you sell the rings?
If you and your former spouse have a son who may one day want to pass the rings down to a future finance, it might be worth your while to hold onto them. Even if the rings now mean nothing to you, they could still be meaningful to your son, since your marriage led to his birth. If your son is in his late teens or twenties, you can discuss this with him and ask if he thinks he'd be interested in the rings -- and then let his answer inform your decision to sell. If your son is still quite young, you may want to hang onto the rings for a few more years until he is wise enough to discuss this with you.
Do you need to sell the rings in order to feel like you've moved on?
If you're struck with feelings of bitterness, sadness or disappointment every time you see the rings or think about them, selling might be the best option -- regardless of the rings' value. Leaving the emotional turmoil of a divorce behind you is essential for your future success, emotionally and socially. On the other hand, if you truly don't feel anything when you look at the rings and feel you've already left the pain your divorce behind, you can feel free to base your decision more heavily on the factors above.
If you decide selling the rings is not essential, here are a few things you could do with them instead:
Tips for a Successful Sale
If you come to the conclusion that selling the rings is the best option, here are a few tips to ensure you get the best price.
Consider selling the gems and metal separately. If you have a jeweler remove the stone from the ring, you can sell that to the buyer who gives you the best offer, and then find a separate gold buyer who offers the highest price. When the price of gold or silver is high, this strategy can earn you more than selling the ring as a whole.
If you sell the whole ring, try selling to the public. If you sell the ring to a jewelry buyer, they'll have to pay you a little less than what they can sell it for in order to make a profit. By listing the ring for sale to the public, you can skip the middle man and earn a bit more. There are sites online where private sellers can list their rings for a small fee. However, this is only a good strategy if you can afford to be patient and wait for the right buyer. If you're in a hurry to sell, the money you lose by selling to a jewelry buyer may be worth the time you save.
The decision to sell your engagement and wedding rings following a divorce can be an emotional one. Take the time to think through this decision and explore all of your selling options before taking action.Share
29 April 2016
When a friend of mine gave me an impromptu makeover, I realized that I needed to improve the attention that I gave to my appearance. I invested in some new clothes, and then I went shopping for jewelry. However, I didn't know how to choose or match pieces, so my first few outfits were a little confusing. Fortunately, my friend came to my aid and walked me through how to wear jewelry the right way. I was really impressed with her help. This blog is all about me helping you to accessorize with jewelry. Read here to find out how to look better than ever.