So you’ve decided to divorce, the Decree Absolute’s arrived but what do you do with your wedding rings now that your divorce is official?
You might want to clear out everything to do with your marriage and/or need every additional penny you can get your hands on, in which case you could sell the rings. There are many costs as you move into a new, single life and some extra money could make a big difference to setting up a new home. For those who can afford it, the money from selling your jewellery could give you an excuse to splurge by spending the money on something that makes you happy – a different piece of jewellery or something to set you up in your new single life!
Bear in mind that resale values are much lower than retail and you will be lucky to get back 50% of what you paid for the jewellery in the first place. You might want to check the price of gold or platinum before you do sell.
If you can afford to be generous, you can donate your rings to a charity who can sell it on and make a difference to someone else’s life or a cause you are passionate about.
Sometimes it feels like too big a step to get rid of your jewellery, even if you won’t wear it anymore. Speak to a jeweller about having the rings re-worked; maybe into a different type of ring, a ‘right-hand’ ring or an entirely different piece. One of our clients had the three stones in her engagement ring changed to make a pendant and a pair of earrings, which she plans to hand to her children when they are older.
Is it bad luck to pass your wedding jewellery on to future generations when the marriage didn’t work out though? I think not, remember how happy you were when you first got engaged or married and pass on the rings with that time in mind – plus whoever the rings belonged to, they will always be your child’s mum or dad and they may have emotional value to the child, even though your love didn’t last.
Going through a divorce, even if you are amicable, can be an emotional rollercoaster. There are many decisions to take and deciding what to do with your jewellery is one question that can wait. There’s no harm in just leaving them in a drawer until you feel ready to decide what to do with them – even if that takes years!Book a free 15-minute advice call