Your marriage is over for good, the divorce papers are filed and your ex packed his bags months ago. Should you sell your engagement and wedding rings, or should you put them someplace safe for now? If your divorce is pending in the courts, there are reasons why you may want to sell the engagement and wedding rings in the near future.
If your divorce has been finalized, selling the rings may feel liberating, like you can start the next chapter of your life. Or, if you have children, something deep inside you may be telling you hang on to them.
Do you have financial reasons to sell the ring?
No matter how you look at it, divorce costs money, and by its nature, divorce places a greater financial strain on newly divorced individuals. Some homemakers have to suddenly reenter the workforce after a long hiatus, while long-time workers find their new financial burdens difficult to shoulder, though they wouldn't dare trade them for their married life.
If the divorce has turned your finances upside-down, at least for now, then finding additional sources of income can work wonders to alleviate your overall stress. For many women, their most valuable possessions are either on their finger, in a jewelry box, or a dresser drawer – hopefully not in a landfill or in the Hudson River!
Your wedding rings symbolize your broken marriage and while they may be worth thousands, they're not exactly "essential." If selling the rings would finance your divorce, or help you pay off debt, or get on your own two feet, it may be the most financially savvy move you can make.
Many financial experts would agree that selling your rings could be a great way to cut ties with your past, while improving your financial future, a positive step indeed.
If you decide to sell the ring:
- Work with a diamond specialist who helps divorcees sell their wedding rings,
- Only work with a reputable and established company with excellent reviews,
- Use a company that will pay you quickly,
- Do not use anyone who charges for their service, and
- Only work with a company that is accredited by the BBB.
What else can I do with my rings?
If money is not an issue for you, you have seemingly endless options. Depending on your circumstances, you may want to: 1) save the rings for one of your children, 2) sell them and buy something that symbolizes a new start, 3) donate the proceeds from the rings to charity, 4) use the money to start a new business venture, or 5) use the money for a much-needed vacation far away from your ex.
Or, you may love the rings so much that you continue wearing them, but on different fingers. If you're not ready to dip back into the dating pool, you can keep wearing them to dissuade wannabe suitors.
Whatever you do, be careful about making an emotional decision that you'll later regret. We don't recommend ditching your rings in the ocean or throwing them out of the car window on your way home from divorce court.
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with an experienced member of our legal team.