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Can you sell your engagement ring following a divorce?

Engagement rings can be a valuable asset, and following a divorce, you might not want to hold on to an emotional reminder of your marriage. Some people might want to keep the ring to pass on to other family members, while others feel that it's unlucky to pass on a ring that is associated with a marriage that ended. Whatever reason you want to sell your engagement ring, the answer is: If you own it following the divorce, it's yours to do what you want with.

There are numerous ways you can sell your engagement ring or other jewelry after a divorce. Remember not to sell them before and try to hide the proceeds from your ex, because that can get you in trouble when it comes to the legal distribution of your assets. Once you have clear ownership, though, consider pawning, selling to a jewelry store or company or selling it on eBay or Craigslist.

You'll get the most money if you sell outright to another person and the least risk if you sell to pawn shop or jewelry store. Consider whether you want to be rid of the item quickly and easily or maximize your profit when you decide where and how to sell your ring.

If you choose to sell your item online, take standard precautions. You can sell it for a good price on Craigslist to the right buyer, but you must follow good safety rules. Never provider your home address to anyone and meet in a public, well-lit place to make any exchange. Don't accept check for payment -- always require cash or money order.

Before you start selling your items to fund necessities, make sure you are seeking the appropriate amount of support from your ex. An experienced family lawyer can help you throughout your divorce, including working with you on property division and support orders.

Source: Woman's Divorce, "How to Sell an Engagement Ring," accessed Nov. 25, 2016

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