What to do with your wedding rings after divorce
If you have recently got divorced, you're probably exhausted by the process and doing something with your rings is the last thing on your mind. That's ok. Take time to emotionally heal first. Once you're ready, here are 3 things you can do with your wedding and engagement rings after divorce.
1 - Resize your ring to wear on a different finger or for your daughter to wear
2 - Redesign you rings into something new
3 - Sell your rings
Resize your ring for your daughter or to wear on a different finger
If you have an engagement ring that you love, why not have it resized so you can wear it on a different finger, or resize your ring and gift it to your daughter. Most rings can be resized up or down, unless there are diamonds set into the band that will pop out if the ring is made smaller. However, even when diamonds are set into the band, it is usually possible to adjust the settings so the ring can still be resized. It's quite common for stone settings to need a little TLC while resizing a ring, as the claws do tend to wear over time. This is why each ring is assessed individually before providing a quote.
Redesign your rings into something new
Your rings represent part of your story and so why not have them remodelled into something completely different? I recently remodelled Sarah's engagement ring into a necklace for her daughter. Her young daughter has a cheeky, yet feisty character and this ambitious girl knows what she wants. So I came up with a design that almost looks like wings, featuring Sarah's diamond in the centre. It's also a beautiful metaphor for letting yourself fly after a tough time.
Sell your rings after divorce
If you don't want to have to look at your rings and just want to convert them to cash, here are some things to bear in mind. The first thing to be aware of is that you will receive a lot less than you originally paid for them. Unfortunately there are so many fairly similar wedding and engagement ring designs about. So unless you have a particularly notable design, you are likely to only get the value of the metal. We're talking 'scrap metal' - not the nicest sounding word. If you have teeny tiny diamonds, unfortunately you won't get any money for them. This is because of the time it takes to remove the diamonds from the settings and formally identify them via lab testing. Therefore it's best just to trade in the metal at the bullion dealer or you can use your rings as part payment with me, towards a new piece of jewellery to enjoy.
If you have an engagement ring with a bigger, high quality diamond in, I recommend contacting Fellows Auction House. You can then either sell the ring through them, or if the ring is quite worn, you can sell the diamond through them and trade in the metal separately. Fellows have in-house valuers, so you don't need to pay for a separate valuation.
The best option for you is probably the one you feel most emotionally comfortable with. If you would like to chat about which option is best for you, or get advice on selling, resizing or transforming your rings (all of which I can help with) then get in touch.
To find even more information on this topic, listen to this podcast by Tamsin Caine from Smart Divorce in an episode where Tamsin invited me as a guest.