When Do You Sell Your Wedding Ring? And How?
Frustrated … or ecstatically done? Maybe you are strapped and desperate for cash? No matter the scenario, you are in good company if you are wondering, “When …how …. where do I sell my wedding ring?”
There might be an urgency to your question. You are probably yearning to put the past behind you … TO MOVE ON. Or, and let’s tell it as it is, there’s often the practical real–life necessity of “Let me get some value from that *#$@!*& thing!” All these feelings and needs we know well both as divorce coaches and women who have been right where you are. But it is your needs and feelings that must be genuinely considered … if you are really, truly interested in the right answer.
Are you interested in the right answer? When do you sell your wedding ring?
Then hold on before you start fantasizing about the how, where, and how much you will get for it, because it’s worth taking you through the paces that bring you to the question.
Selling your wedding ring: The emotional component
First, ask yourself these two questions:
- Are you really ready to part with your wedding ring?
- Are you really done with your relationship?
If you answered YES without hesitation, then by all means scroll down to “The Practical Steps of Selling Your Wedding Ring.” If you paused, then keep reading. Your wedding ring is of course, a symbol of your union or what your union was. It represents (and possibly, might still) all your hopes and dreams. Your Happily Ever After.
Have you really done everything to save — which means work — on your marriage?
No doubt you’ve done some things. But to make sure, check out our suggestions in 36 Things to Do if You are Thinking about Divorce just to make sure you’re not embarking out of haste or making this enormous life decision from an explosive or depressed place. It’s not easy to divorce, nor should it be. You’ll want to be sure (well, as much as you can be — refer to step number 29 in 36 Things.)
You may no longer be married, but still holding on, holding on to that ring, the jingle, the jangle, the pearl necklace, the pin he gave you from your first trip away together. They are all kept safe in that special satin-lined box you keep hidden in your lingerie drawer. You might be feeling guilty, or simply not ready to say goodbye to them. Because on some level it would mean saying goodbye to your dreams. You are in mourning, and Sister, mourning is a complicated thing.
- Are you still, or just now starting to come to terms with everything you have lost?
- Are you still feeling the pain and trying to understand what’s brought you to being single all over again?
Make no apologies – to yourself or to anyone else! Just understand. This stage of divorce recovery is fraught with people wanting the best for you, wanting you to “get over it,” but not quite understanding you. Indeed, YOU may not be understanding you right now. Allow yourself to be where you are. For if there’s one thing you’ve earned now on the other side of the divorce paperwork, it’s the right to be calling your own shots. If you are not ready to part with your ring, DO NOT. Take a few steps on our divorce recovery stairway and learn what else you can do to heal and begin to live again.
The practical steps of selling your wedding ring
Alright, alright, you say, you don’t want to hear any more about leave-taking or mourning. In fact you skipped those paras because you’ve got bigger fish to fry, like paying off your legal fees, the credit card debt, or taking that longed-for trip to Phuket. You’ve always heard that you could flip your ring … or that “Jewelry is a good investment.” So surely this ring that has kept you lassoed in place this long has got to be worth something? Right?
Where do you sell your wedding ring? How much can you get?
First, let’s get clear: it’s likely not your wedding ring that is worth selling so much as it is your engagement ring. But here’s the bracing cold fact behind that: the value of your jewelry, and in particular your engagement ring, is likely not worth what you think it is. Yes, we know. We hate being the bearer of bad news … someone probably paid a lot for it. But the price paid for your ring reflected the design, the brand, the artistry, and time involved in creating it. When you go to resell, buyers are only interested in the value of the stones and metals. Not your ring in toto.
Sigh, if you like. You are safe with us. But then be smart and savvy about trying to get as much for those stones and metal as you can!
Follow these steps to sell your ring:
1) Have your ring graded
While we are all for supporting your village tradesman and local economy, if you walk into your local jeweler you are hostage to what s/he says your diamonds and gold are and what they may be worth. The best is to have your ring graded by a GIA or IGI-certified jeweler so you learn and document the real characteristics of the stones and metal before you try to sell. (Note: the proper word is “graded” and not “appraised.” An appraisal is used for insurance purposes only and is not a resell market price.) Learning the true facts about your ring is the first step to understanding its value.
2) Decide what is worth your time
Once you know the size, the cut, the color, and the clarity of your diamond, you are better prepared to figure out what is worth your while. Maybe if the stones are not as valuable as you’d hope, you will do nothing or you’ll repurpose them into something you actually like? Or you will sell them to the jeweler or pawnshop that will give you the most for them? If the latter, shop around for the best offer. If your center stone is 1.0 carat (ct.) or more, it’s in your interest to find a legitimate resource for reselling. Go ahead and search the web or use a well-reputed jeweler you know. You are now a savvy seller looking for the best deal.
You may be on the OTHER side of the divorce document, but life after divorce still means finding your way and handling all the practical, logistical, and emotional things that keep landing in your lap. Reach out to SAS for a free consultation on how we can support your prioritizing what comes first, what comes next, and what will foster your most beautiful, next chapter.