Should You Sell Your Wedding Ring After a Divorce?

Going through a divorce can be one of the most emotionally difficult times in someones life. It can not only take a toll on yourself, but friends and family as well. Besides the emotional roller coaster, there is the splitting of assets and possibly a period of financial hardship. Many times in divorce proceedings spouses get to keep their wedding rings. When the divorce is all said and done, some people take off their ring only for it to sit in a drawer or jewelry box for many years to come; others think of the potential value of their ring. There are many reasons why you or someone else may have a hard time deciding if they should sell it or not. It did mean something to you at one point in time, or maybe it still does. The best way to make a decision is create a list of “Why’s” and “Why Not’s”. Here are some things to consider if you are deciding if you should sell your wedding ring after a divorce.

Let’s start with “Why Not”

It’s a reminder of what you overcome and all you have been through. As silly as it may sound, some people just need a reminder of past experience to remember how strong they really are. Some people also choose to keep it, because although it may have ended in divorce, there were good times shared as well.

Pass it down to your children

Many people dream of passing down special token to the next generation. There are many family traditions where people pass down their grandmother’s wedding ring, and many people hope to emulate that. For some people, a wedding ring is not just a symbol of marriage, but a symbol of a family that was formed because of the marriage behind the ring.

Recycle it into another piece of jewelry

You could have this beautiful diamond and gemstones in a great setting, but you can’t really wear it, so turning it into a different pieces of jewelry allows you to still utilize what you have as jewelry. You could use the diamonds and turn them into studs, or you can take the silver and turn it into a pendant or an entirely new ring.

You could donate it

We’ve obviously discussed selling the ring, but donating it is another great option. Some people would love to give their spouse the engagement ring of their dreams but can’t afford it. By donating the ring, you’re giving someone a chance at having the wedding ring of their dreams. Another reason for donating is going green. Since we have begun to understand the importance of preserving our planet, it has even reached the jewelry industry. There is no point in creating or finding new metals and stones to make a ring when businesses can use old wedding rings and recycling them into new ones.

You’re not ready

You may want to sell it in the future but now may not be a good time. Getting rid of your engagement ring is like the nail in the coffin, an emotional closure to your past relationship. Maybe you are not ready to face reality that way, and that is ok.

Now the “Why’s”

It’s a painful reminder

Unfortunately in some marriages, the bad memories can overcome the good. Having a wedding ring from a previous marriage can remind you of the pain you went through. As we said in the last paragraph, selling your ring can be the act that officially closes that chapter in your life, plus you earn some extra cash as well.

You don’t want to pass it down

As much as you would like to pass it down to future generations, maybe it’s not a decision that feels right to you. If you look at the ring and feel nothing but negative emotions and remember bad memories, is that something you would want to pass on to your kids to propose to their future spouse with or wear as their own wedding ring? Providing a ring for someone in your family is an amazing gesture, but this might not be the best ring to do that with.

You could use the money

Divorces are not only a hassle, but they are expensive as well. From the lawyers, to change in income, to finding new living arrangements. That all adds up quickly and eventually the bank account is drained. Selling engagement rings has become extremely easy and the payouts from diamond buyers could land you a good chunk of much needed money.

You could use the money for a new piece of jewelry

Now that you are selling a ring that was a part of your past, you could use the money to buy a ring that represents your new beginning. Jewelry has always been used as a representation or a memento for special occasions and events. Buying a new piece of jewelry is a great option If repurposing the setting and stones from your current ring is not for you.

You could use the money for a vacation

The emotions from a divorce can be draining, so you probably wouldn’t mind getting away for a while. Use the money to fund your next vacation. Go to a tropical getaway or take a backpacking trip.  Taking trips is one of the best ways to reflect and recharge for life back at home.

There are plenty of reasons for why you should or should not sell your ring. The most important thing to remember when making this decision is to do what’s best for your well being.  If you have no qualms with selling the ring, then that is great. The money can be used for a shopping spree, vacation, savings, or whatever you desire. But if you are feeling a little uneasy, that’s okay too and you can always sell it later. Sell the ring at your own pace, it’s a big decision. Sit down and relax and list reasons to keep and to sell your ring. If one list outweighs the other, or if one list has better reasons than the other, then you know which decision to make. Either way it’s your decision to make. If you are still on the fence, read some buyer’s reviews to see how easy it is to earn money for your ring.