What to Do With Your Wedding Ring after Divorce
In her book, “How to Catch a Man, How to Keep a Man, How to Get Rid of a Man,” the late Zsa Zsa Gabor wrote a humorous yet intriguing statement about diamonds being a better investment for a married woman than anything else. According to her, in the event of a divorce, a husband might be more willing to let the wife keep her diamonds, unlike other shared property. But is there any truth to this claim? In this article, we’ll explore the value of wedding and engagement rings after divorce, the process of selling them, and how it can help you move forward in your new life.
What are my wedding and engagement rings worth?
After a divorce, you may be curious about the value of your wedding ring. Companies like Worthy specialize in helping you understand both the monetary and intrinsic value of your ring. The size of the center stone plays a significant role in determining a ring’s value. Larger center stones, typically the focal point of the ring, hold more value than clusters of smaller diamonds, known as melee. Understanding these factors is crucial before considering selling your ring.
How can I get a fair assessment of my wedding ring’s worth?
It’s essential to differentiate between the fair market value and the retail price of your ring. The fair market value is based on recent sales of similar rings, while the retail price reflects what a jewelry store might charge for the ring today. To determine your ring’s value accurately, a grading report from a reputable lab like the Gemological Institute of America (GIA) is vital. Buyers trust a GIA report, making it a valuable asset in the selling process.
Do people go through “seller’s remorse” after selling their ring?
Many individuals experience a sense of remorse when they realize that their ring’s current value isn’t equivalent to its original purchase price. However, it’s crucial to recognize that selling the ring can be a step towards embracing change and moving forward in life. Letting go of sentimental items can lead to positive transformations and new beginnings.
How long does the selling process take?
The Worthy online auction process typically runs for two days, with the entire process taking around 15 business days, including shipping, evaluation, and preparation for the auction. Once the auction closes, sellers can expect to receive their funds within approximately three business days.
What do you wish more people knew about selling tangible assets post-divorce?
Following a divorce, it’s essential to focus on the bigger picture. Tangible possessions, like diamond rings, are just material items and don’t define happiness. Selling these items can provide the financial means to start a new chapter in life, leading to personal growth and positive changes.
Inspiring stories of transformation after selling a ring
Maura Enright’s story exemplifies how selling a ring helped her achieve financial freedom and make positive changes in her life. After paying off credit card debt with the funds from the ring sale, she invested in her son’s education and secured a new home. Ingrid Renberg’s sentimental farewell to her ring included a log of its travels during her time wearing it, adding a heartfelt touch to the selling process.
In conclusion, the value of your wedding and engagement rings after a divorce extends beyond their monetary worth. Selling your ring can provide you with financial flexibility and the opportunity to embrace change. Letting go of sentimental items can lead to personal growth and help you move forward in your new life.
- Is it true that diamonds are a better investment for married women after divorce?
- While diamonds may have sentimental value, their resale value may not always match the original purchase price. However, selling a diamond ring can provide financial flexibility.
- How do I determine the value of my wedding ring?
- The size of the center stone, along with other factors like cut, carat, weight, color, and clarity, contributes to a ring’s value. A grading report from a reputable lab is essential for an accurate assessment.
- What is the difference between fair market value and retail price?
- Fair market value is based on recent sales, while retail price reflects what a jewelry store might charge. The fair market value is often different from the original purchase price.
- Is there a timeframe for the selling process?
- The Worthy online auction typically runs for two days, and the entire process, including shipping and evaluation, takes around 15 business days.
- What should I consider before selling tangible assets after divorce?
- Focus on the bigger picture and understand that possessions are just things. Selling sentimental items can lead to positive changes and new beginnings.