what to do with engagement ring after divorce

What are you supposed to do with your engagement ring after a divorce? Keep it? Sell it? Hand it down to your kids? Is there even a right answer?

If you have an engagement ring from a past marriage collecting dust in your jewelry box, you may have conflicted feelings about letting go of a sentimental item — even a painful one. Or maybe you can’t wait to get rid of it, but you’re not sure where to start.

Either way, this post will help you understand your options and decide what’s right for you.

1. Make Sure You’re Ready

engagement ringEngagement rings can harbor powerful memories, both good and bad. If you walked away from your divorce with your ring, it’s yours to do with as you choose.

At the end of the day, an engagement ring is a material item — it’s not your marriage. When you’re ready, selling your ring can bring a sense of closure, personal freedom, and independence.

Selling your ring can be a practical decision too. Many people choose to sell their ring to help with expenses during the divorce process or take a vacation with the kids.

Ask yourself:

Which is more valuable to me?

  • The physical ring and the memories (good or bad that it evokes)?
  • The freedom I can gain from letting go of the ring and having cash payment in hand?

2. Gather Information About Your Engagement Ring

paperworkIt’s worth doing a little research on how much your ring is worth, especially if you’re considering selling it.

Any experienced diamond buyer will tell you it’s helpful to bring any documentation you have for the item. This might include:

  • Diamond lab certification
  • A past appraisal
  • The original receipt of the engagement ring purchase

Documents like these can help a buyer perform a more accurate evaluation and make you a better offer, but don’t worry if you don’t have them. A true diamond expert will be able to give you a good, fair offer with no paperwork if necessary.

3. Before You Sell Your Ring…

If you’ve made the decision to sell your engagement ring, there are a couple of things you should do to make sure you get the best possible offer.

Find an Expert, Trustworthy Buyer

Once you’ve made the decision to sell your engagement ring, it can be tempting to head to the nearest pawn shop and take whatever they offer you. However, that is not the best way to get a fair offer.

In fact, you’ll likely get less than what your ring is really worth, because most pawn shop owners aren’t diamond experts. They’re unlikely to be able to offer you the true value of your engagement ring, and they can’t give you their complete, undivided attention if another customer walks in.

Get a quote in person from a respected, certified diamond buyer. A certified buyer will be able to give you the most accurate evaluation of what your piece is really worth, and if you’re not happy with the offer, get a second opinion.

Do Your Research

Look for a buyer who…

  1. Treats you and your engagement ring with respect. The right buyer will make your comfort and security priority number 1.
  2. Will meet with you one-on-one. The safest way to sell a valuable piece is in a private appointment.
  3. Won’t pressure you into accepting an offer. Make sure the buyer isn’t going to use sales tactics on you. The right buyer will simply make you a fair offer and leave the rest up to you.
  4. Welcomes your questions. You should feel comfortable asking any and all questions you might have.
  5. Will set you up with a certified diamond buyer. Make sure you’re meeting with a true expert — a certified gemologist with extensive knowledge of diamonds.
  6. Has proven trustworthiness and good results. Check a business’s online reviews and see if they’ve been rated by the Better Business Bureau before making a decision.

4. Don’t Feel Guilty

A divorce is difficult enough already. Remember, if you’ve signed the divorce papers, then your marriage is legally over. If you kept the engagement ring, it’s yours to do with as you choose.

If you’re ready to sell your ring, give Samuelson’s Buyers a call at (301) 263-7971 or contact us online to make an appointment.

Photo credit: Derek Ramsey, moppet65535