When most women get engaged, they start picturing a fancy wedding, a house with a fenced-in yard, and a long, happy life with the man of their dreams. While some people do eventually get to live out this fantasy, others simply aren’t as privileged. In fact, it’s an unfortunate statistic that approximately half of the marriages that occur throughout the United States end in separation and divorce. And in some cases, pairs of people who once thought that they were perfect for one another don’t even make it to the marriage stage. Regardless of the actual circumstances, the result of all of this romantic mayhem means one thing for the jewelry industry: Plenty of unwanted engagement rings are floating around.
If you’re one of those people whose engagement ring no longer symbolizes the love that it used to, then don’t despair. Rather than bury that beautiful ring in the bottom of your jewelry box or toss it down a trash chute in a fit of misery and rage, you do have a number of choices as to what you might be able to do with it. However, before you start mapping a game plan in your head, you should be aware of the generally accepted rules of engagement-ring etiquette. If your situation is such that you got married, stayed married, and eventually ended up getting divorced, then there should be no obligation on your part to return your engagement ring to your former spouse. Since you went through with the marriage (and, presumably, did your best to make it work), then that engagement ring, by all social standards, is yours to keep. On the other hand, if you ended up breaking off your engagement before your wedding day arrived, then social courtesy generally dictates that it’s more appropriate for you to give the ring back to your former fiancé rather than keep it for yourself (whether or not he wants it back is a different story).
When it comes to making the most of your old engagement ring, your first option is to simply sell it. Indra Jhaveri is the owner of AMI Diamond & Jewelry, a Phoenix store specializing in a wide variety of jewelry items, and according to him, it’s not unusual for a woman to turn an old engagement ring into an instant profit. Depending on the size, cut, and clarity of the diamond, an old engagement ring can yield you anywhere from a few hundred to a few thousand dollars on the spot. And nothing heals old wounds like the new wardrobe or luxury Caribbean vacation you could always treat yourself to with your newfound collection of cash.
One thing to be aware of is that if you are going to sell your engagement ring, then don’t be surprised if you end up getting less money than your former spouse or fiancé originally paid. Just as a new car loses value the second you drive it out of the lot, so too can an engagement ring depreciate due to wear and tear.
On the other hand, if you’re unhappy with the amount that your local jewelers are willing to offer in exchange for your ring, or if you simply can’t bring yourself to part with it completely, then you do have another option: You can convert your old engagement ring into a stylish piece of jewelry that you’ll actually want to wear. According to Jhaveri, it’s common for women to want to hang onto their diamonds, be it for sentimental or fashion-related reasons. If you’re looking for a way to sport your diamond without giving the false impression that you’re off the dating market, then you could always have a jeweler turn your engagement ring into a gorgeous pendant or brooch. The great thing about diamonds is that they are an extremely versatile stone; a good jeweler should be able to complement your old diamond with a wide variety of jewelry pieces and settings. The more willing you are to have your engagement ring diamond altered or crushed, the more options you’ll have as far as replacement jewelry items are concerned.
If the idea of selling your old engagement ring or converting it to a sparkling piece of jewelry to sport around town just doesn’t sit well with you, then you could always hang on to it and keep it as something to pass onto your future children. Some people develop emotional attachments to their engagement rings despite any associated failures on the romance front. So if you happen to be one of those people, then nothing is wrong with holding on to your ring for the long haul. After all, just because your marriage didn’t last forever doesn’t mean that your diamond can’t.
