Selling Wedding Bands: Post-Divorce Guide

Selling a wedding band after a divorce can be a way to reclaim your story and rid yourself of a painful reminder of a relationship that has ended. It can also be an unexpected financial windfall that could help fund a fresh start, such as a vacation or a new business venture.

There are several options for selling a wedding band, including local jewellery stores, consignment shops, pawn shops, and online platforms like eBay, Craigslist, and Worthy. It is important to do research and compare different options to ensure you get the best offer for your ring.

Before selling, it is recommended to get an appraisal to determine the ring's value. This can be done by taking the ring to independent jewellers or using online diamond buyers, who will provide an initial estimate based on basic information about the ring.

Selling a wedding band after a divorce can be a difficult decision, but it can also provide an opportunity for a new beginning and financial gain.

Where to sell your wedding band

Selling a wedding band can be an emotional and challenging process. It is important to take your time and make sure you are emotionally ready to sell. When you are ready, there are several options for where to sell your wedding band.

Local Jewellery Stores

One option is to sell your wedding band to a local jewellery store. Most jewellery stores buy used items and are generally very safe to deal with. However, it can be difficult to find a store interested in buying your wedding band and offering a fair market value. It is recommended to shop around, get estimates, and compare to receive the best deal.

Consignment Shops

Another option is to sell your wedding band through a consignment shop. The main drawback of this option is that it can take a long time for the right buyer to come along, and consignment shops typically charge 20-50% of the sale.

Pawn Shops

Pawn shops are a similar option to consignment shops and have been popular for thousands of years. They are well-regulated and mostly safe places to do business. However, you are unlikely to receive a high price for your jewellery at a pawn shop.

Online Platforms

There are also several online platforms where you can sell your wedding band, such as Circa Jewels, Worthy, WP Diamonds, Truval, Express Gold Cash, eBay, and Etsy. These platforms allow you to connect with diamond experts and potential buyers from the comfort of your home. They also offer insured shipping packages to ensure your ring's safety.

When deciding where to sell your wedding band, it is important to research and compare different options to ensure you get the best price and feel comfortable with the process.

How to get the best price

Selling a wedding band can be a difficult process, especially if you're doing it after a divorce. Here are some tips to help you get the best price for your ring:

Understand the Second-Hand Market

It's important to know that the second-hand market for diamond rings is often unforgiving. Diamond jewellery typically resells for 25% to 40% of its original retail price, and sometimes even less. This is because the retail value includes high markups to cover the jeweller's overhead costs, such as marketing, wages and rent. Keep this in mind as you start the selling process and set your expectations accordingly.

Know What You Have

Gather any paperwork you have on the ring, including diamond grading certificates, appraisal papers, and receipts. These documents will make it easier for potential buyers to know exactly what you have and provide an accurate price quote. In the case of designer jewellery, such as Tiffany or Cartier, paperwork can also prove authenticity and add value to the sale.

Choose the Right Buyer

There are several options for selling your wedding band, but not all buyers are equal. You can choose to sell online through websites like eBay or Craigslist, but these sites often charge high fees and it can be difficult to price your ring competitively without expert knowledge. Pawn shops are another option, but they may not employ gemologists who can accurately price your ring. Local jewellery stores are a safer bet, but it can be difficult to find one that is interested in buying your ring and capable of offering a fair price. Online specialist buyers, such as myGemma, are a good choice as they have the expertise to accurately price your ring and provide a secure and fast service.

Upgrade Your Diamond Ring

Consider upgrading your diamond ring to get a higher price. Some buyers will offer a higher price if you use the money from your original ring to purchase a new piece of jewellery.

Get Multiple Offers

Don't take the first offer that comes your way. Get at least two offers for your ring and be sure to negotiate. Shop around, get estimates, and compare prices to ensure you get the best deal.

What to do with the money

Selling your wedding band can be a difficult decision, but it can be a great way to get some extra cash. Here are some ideas on what you can do with the money from the sale:

• Pay off debts: If you have any outstanding debts, such as credit card balances or loans, consider using the money to pay them off. This can help improve your financial situation and reduce any stress associated with debt.
• Invest in yourself: Consider using the money to invest in your future. This could include funding your education or starting a business. Investing in yourself can help you develop new skills, pursue new opportunities, and increase your earning potential.
• Treat yourself: After a divorce, it's important to take care of yourself and do things that make you happy. You could use the money to take a vacation, buy something you've always wanted, or indulge in experiences that bring you joy.
• Save for the future: If you don't have any immediate financial needs, consider saving the money for the future. You could put it towards an emergency fund, retirement savings, or a down payment on a house. This can help you build financial security and ensure you have a cushion for unexpected expenses.
• Help others: If you are in a position to do so, consider using the money to help others. This could include donating to a charity or cause that is important to you, or helping out a friend or family member in need. This can be a rewarding way to use the money to make a positive impact.
• Invest in the stock market: If you're comfortable with taking on some risk, consider investing the money in the stock market. Over time, investing in stocks has the potential to provide higher returns than other types of investments. However, it's important to remember that there is also a risk of losing money, so be sure to do your research and understand the risks involved.

How to emotionally process selling your wedding band

Selling your wedding band can be an emotional process. Here are some steps to help you emotionally process selling your wedding band:

Acknowledge your emotions

It is important to acknowledge and accept the emotions that come with selling your wedding band. This may include feelings of grief, loss, disappointment, or guilt. Recognising and accepting these emotions is the first step in processing them.

Understand the symbolism

Selling your wedding band may symbolise letting go and moving on. It can be a way to let go of the past and move forward towards new beginnings. Understand that this is a personal choice and only you will know if it is the right decision for you.

Take your time

Don't rush into selling your wedding band. Take the time to think about your decision and ensure you are emotionally ready. Selling before you are ready may lead to feelings of regret.

Seek support

Prioritise self-care and seek support from friends, family, or a therapist to help you navigate the emotional journey. It is important to have a support system in place to help you process the emotions that come with selling your wedding band.

Focus on the positives

Selling your wedding band can be liberating and provide a sense of closure. It can be a way to declutter your space and your mind, allowing you to embark on new beginnings. Focus on the positive aspects of selling and how it can help you move forward.

Make informed decisions

When selling your wedding band, it is important to do your research and make informed decisions. Understand the value of your ring and the different selling options available to you. This can help you feel more in control of the process and ensure you are getting a fair price.

Remember that selling your wedding band is a personal decision, and it is okay to take your time and process the emotions that come with it. Prioritise your well-being and seek support throughout the process.

How to repurpose your wedding band

Repurposing your wedding band can be a great way to transform a symbol of your past into something that reflects your present. Here are some ideas on how to repurpose your wedding band:

Redesign the Ring

Take your wedding band to a jeweller and have it redesigned. You can then wear the new piece on your pinkie finger, as suggested by Amy Vanderbilt's 1952 etiquette book, to show your availability to potential suitors.

Create a New Piece of Jewellery

You could repurpose your wedding band into a different piece of jewellery, such as a necklace, pendant, anklet, or barrette. This way, you can still wear the ring but in a new form that better reflects your current style and preferences.

Create a Work of Art

If you're feeling creative, you can incorporate your wedding band into a work of art. You could dismantle the ring and use the jewels and metal to create a mosaic image on a canvas. Alternatively, you could have the metal from your wedding band melted down and turned into a tiny sculpture.

Pass it on to the Next Generation

If you have children, you may want to save your wedding band as a keepsake to pass on to them. This option allows you to preserve the memory of your marriage and give your children a family heirloom.

Trade Memories for Cash

Selling your wedding band can be a practical option to get some extra money, especially if you're struggling financially after the divorce. You can get an appraisal to determine the ring's value and then find a buyer. Online auction platforms like Worthy, eBay, and Craigslist are popular options, but you could also try local jewellery stores, consignment shops, or pawn shops.

Remember, taking some time to consider your options before making a decision can be a good idea. There's no rush to immediately get rid of your wedding band, and you want to ensure you make a choice that you feel comfortable with.

Frequently asked questions