Clean Your Diamond Ring
This is kind of our pet peeve at The Diamond Lining, that people don’t clean their diamond rings nearly often enough. Any time anyone asks us pretty much any question our answer is “First you should clean your ring.” Then you can do all of the other things with a brilliant sparkling ring. Isn’t that better? Especially after a divorce, when cleaning a diamond ring is a little bit cathartic like cleansing yourself.
Turn the Diamond into Something Else
Another very neat option for your no longer needed diamond engagement ring is to turn the ring into something else. Bring it to a jeweler near you and ask about making a pendant or a stick pin with the stones and the metal from the ring. As the caterpillar turns into a butterfly, you can turn your ring into a wonderful accessory that you wear and treasure. This is a really fun option especially if you don’t have any negative connotation with the stone.
Store Your Diamond Ring
Putting your ring in a safe deposit box and storing it for your kids or some other unforeseen event is a reasonable solution as well. This is really more of the lack of a decision than any sort of proactive solution, but diamonds don’t decay. We are experiencing historic peaks we are currently experiencing in the gold and precious metals market, but trying to time the gold or diamond marketing can be exceedingly challenging. If you store your diamond nothing will stop you from selling it, resetting it, or giving it to a family member later. The last thing you want to do is make a rash decision that you might regret later.
Gift Your Diamond Ring
The traditional concept of a family heirloom might not be appropriate for a ring from a relationship that ended in divorce, but we can find a way around that issue. Instead of handing the ring down to a family member who is soon to be engaged, you can give that person the diamond and/or ring and encourage them to get the stone re-set. The expense of resetting a ring is substantially less than a new ring and the new design will erase any bad memories from the divorce.
Sell Your Diamond Ring
We know very few people who are happy that they still have their diamond ring from a previous marriage. As a rule of thumb, people don’t like to have mementos of failed marriages. If the ring is a family heirloom or has been passed down for years, then we don’t suggest selling it, but if it doesn’t hold any deeper sentimental meaning than as it relates to the marriage that just ended, we suggest you sell the ring. Use the money to pay the legal fees, or take a vacation. Treat yourself.