What should you do with your wedding ring after a divorce?

A lot of divorced people end up with a ring (or rings) that they no longer want.

What do you do with it? It's a shame to put such a valuable item in a drawer and forget about it, even though it doesn't have a real purpose anymore.

Here are some choices:

1. Turn it into a right-hand ring.

If you still love your ring and want to wear it, you can turn it into an affirmation of self and independence -- which is what right-hand rings are all about.

2. Have the stones reset.

Sometimes the stones in a ring are more valuable than the setting. If you want to keep the stones but ditch the sentiment, you can have the stones reset into new jewelry elements for your collection. Their transition to a new state can reflect the transition you've made in your own life.

3. Save them for an heir.

If your rings are a family heirloom with sentimental value, you might want to keep them to pass on to a child or grandchild. (The only drawback to that idea is that some people consider rings from a broken marriage to be bad luck.)

4. Sell the rings and use the money.

This tactic can give you a little spare money to start your new life or pay off the bills. It can also give you a good start on a savings account.

If you do sell your ring, don't make the mistake of taking pennies on the dollar. Here are some tips you can use to get the best value for your bling:

  • If you aren't in a hurry, Ebay can be a good choice. This is especially true if you have an appraisal from a jeweler or the original receipts for your ring showing its value.
  • If you want the cash quickly, a pawn shop isn't a bad idea. However, unless you have a sizable diamond, you may not be able to get as much as you could elsewhere.
  • Online jewelry buyers usually offer the best prices at the quickest rate. They have little overhead and access to a large network of buyers and sellers. Pick one that's uses certified gemologists and has a good rating by the Better Business Bureau.

Whatever you do with your property after the divorce, it's time to revel in the fact that decision is yours and yours alone!

Source: theinscribemag.com, "A Guide On Selling Your Wedding And Engagement Ring After Divorce," Janis H. Walker, May 30, 2018

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