Divorce is one of the events that people wouldn’t want to have in their marriage, however if you did everything and still won’t work out then it’s high time to untie the knot. In a marriage, a wedding ring will always be used to represent the union of two people to be toed as one and for this, they get GIA certified diamonds for every occasion, like their engagement as well as for their marriage ceremonies.So what happens to these rings when they decide to go their separate ways? Sell wedding ring after divorce? Yes or no?
What are the Reasons for Selling Your Wedding Ring After Divorce?
Helps with Emotional Healing
Whatever the reason for your divorce, it leaves an emotional scar on each of the parties. Letting go of things that can make you remember your partner can help you in moving on. Wedding rings are symbols of getting united together as husband and wife. Selling them can help you forget about the wonderful moments you shared.
Money Can be Used to Pay Divorce Expenses
For divorce to push through, lawyers are needed and fees need to be paid. You can use the money from selling your wedding rings to pay these fees. It will be fair enough for both of you since it can benefit you both. And it can lessen the argument you have about who will pay your divorce fee.
Money Can be Used for Children
If married couples have children, the proceeds coming from selling your wedding ring can be placed on the educational funds of your children or any of their needs such as used for their shelter or other necessities or placed for emergency funds. This will be a better option for both of you since your children are still your children, although you are separated already.
Why Do People Keep Their Wedding Rings After Divorce?
Some people still wear their wedding rings for some personal reason, such as not being able to move on yet, so they still want to wear a ring that can let them remember the good memories with their ex-partners.
Who Owns a Wedding Ring After Divorce?
A wedding ring can be considered a gift. If this is the case, the receiving party can keep the ring. However, in others the wedding ring can be added to the spouse’s total assets if the amount of the ring is substantial. Then the wedding ring can be sold, and the amount will be divided among spouses along with their assets.
Can You Sell a Wedding Ring During Divorce?
When it comes to selling your wedding ring, whether during or after divorce. The decision is yours to make, since you have the right to keep it if you are not yet emotionally ready to let go of it, or you can make an agreement with your partner on when to sell the ring. Here are several options where you can sell your wedding ring:
Online Diamond Buyers
There are companies who buy diamond rings online and can access the worth of your jewelry and can immediately give a quote. However, since it is only you have to do some research on who among them is reputable and legit.
Jewelry shops near you can be a good place to sell your wedding rings. They can evaluate your rings and give an appraisal on how much you can give them for your ring. Just take note that you can not expect to be paid the full value of your ring.Most shops can only give 30% to 60% of the amount.
Pawn Shops are the last resort for selling your wedding ring, but if you are desperate to dispose of them the soonest, then you can opt for this. They pay the lowest when compared with the other options.
Your decision to sell your wedding ring after divorce is tough, but letting go of something that symbolizes your unity as a couple can help you move on faster and begin a new life. Wedding rings are important if you are still married, but once separated, they can be the least important thing. The bond is broken, so wearing them will be of no use anymore. Therefore, selling them can be a good way to start fresh.