Who Keeps It: Selling a Diamond Engagement Ring?

Despite the best of intentions, the relationship at the heart of an engagement may not prove quite so hardy as the diamond on the engagement ring. As well as all the other unforeseen problems that come with breaking off an engagement, the ring itself goes from a symbol of unity to a potential cause of division, especially if both parties feel they are entitled to keep it.

The engagement ring does not always have to be a cause of debate however. Nowadays there is greater and fairer etiquette over keeping or restoring the ring, and a network of appraisers and sellers who can take the ring, and all its potential emotional baggage, off your hands.

 

Deciding who keeps the ring

The etiquette surrounding broken engagements justifies both keeping and returning the engagement ring. Though traditionally it was felt that the engagement ring should always be returned to the would-be groom, nowadays a more nuanced view of the situation suggests that this might be the best option only in certain cases.

If the ring is an heirloom from the groom’s family it is suggested it should be returned to the groom no matter which party broke off the engagement, and should be kept by the bride if it came from the bride’s family. Heirlooms possess a separate legal status that also might ensure them as a property of one family. If bestowed as a gift etiquette suggests that the ring should remain the brides, or that the choice of its restoration to the groom is entirely up to her.

A returning of a ring doesn’t have to be a combative quandary however, and can instead be a liberating decision, a final closing gesture and the first new step in moving on at the end of a relationship.

Getting the ring appraised

Once the ring has been kept or returned, whether you were the prospective bride or groom, with it now in your possession you may be wondering what to do with it. Some people may wish to keep the ring for the important sentimental value it holds, whereas others may feel that parting with the ring would be the best way to move on.

If you are looking to part with an old engagement ring the main factor that contributes to a higher appraisal value is the size and quality of the centre stone, rather than an expensive and elaborate setting. Getting a diamond specialist to appraise your ring will also yield a higher and more accurate price.

Selling the ring

The appraisal value of a ring will not be the value you receive for selling it, like many things, it being second-hand will reduce the price. Choosing the right place to sell your ring will however bring you a greater income from the sale. Quicker options like pawn brokers, mainstream gold buying stores, or local jewelers may be convenient, but the amount of middlemen involved means this convenience comes at a price, lowering the amount you receive for your ring to increase their profit margins.

Selling your ring through a reputable online diamond specialist will provide the greatest return, with the middleman cut out and money that would otherwise be lost to commission going straight to you. Direct selling can lead to a doubling of the money you would receive had you gone to a pawnbroker.

For more tips on selling, you can check out this article on how to sell an engagement ring by Ringspo, who provide an in-depth rundown of the finances of ring selling.

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