Your engagement and wedding rings were pretty expensive, and it seems like a shame to let them sit in a box forever. Therefore, why not sell them now that you’re getting a divorce? You can probably use the cash to help fund your new home or buy something else you need.
You do need to wait until after the divorce is over, however, before you part with your rings. Engagement rings are sometimes considered conditional gifts, but you met the conditions once you got married. Nonetheless, there can be disputes over some especially valuable or sentimental rings.
When it comes time to part with your rings, here are some tips that can help you get a better deal:
- Don’t expect to get what you paid for them. The markup on jewelry is quite high, so you probably won’t get anywhere close to what you paid for the items. However, there are always exceptions.
- Study the market before you start. Gold and precious metal markets can fluctuate wildly, so know where the market stands before you try to sell.
- Choose your options carefully. You can sell to a pawnbroker if you’re looking for a quick sale — but that will probably get you only a minimal price. If you find a jeweler who is willing to sell the pieces on commission, you have to wait for your money but you can get a bigger amount. There are plenty of legitimate ways to sell rings online, either through platforms like eBay or through a dealer. Just make sure that you research any site you use with the Better Business Bureau.
Dealing with your rings is pretty easy. For everything else related to your divorce, however, it’s wiser to have experienced legal assistance.