She Said No - What About the Ring?
What do you do with the ring if she says no? In this case, you can return the ring, sell the ring online, pawn the ring, deconstruct the ring, or save it. Jewelry shops offer a partial or full refund for non-personalized rings. Of the options you have, selling the ring would be the best option; holding onto it would probably be the worst.
Now that your partner rejected your marriage request, you may feel you are in big trouble. In case of such an unfortunate situation, you should decide to either return, sell, pawn, save, or deconstruct the ring. You need to decide based on your current situation. Below, we analyze each of the options in detail.
here is full blog post about pawn your ring Link
Is it OK to ask for an engagement ring back?
It is OK to ask for the engagement ring back if the engagement didn’t work out for you. There are different laws and social traditions approach regarding this controversial issue.
From the law aspect, in most states, including Chicago, the engagement ring is a conditional gift, that is, you gift the engagement ring for the promise of marriage. Therefore, after a breakup, the engagement ring should be given back to the gift giver. On the other hand, some states blame the person who broke the engagement. In these states, the faulty person, who broke the engagement, loses the ring.
Things are a bit different, however, in case a marriage occurs. Some states approach the ring as mutual property, once the marriage occurs. In these states, the court splits the value of the ring between the couple. On the other hand, some states believe the ring belongs to the recipient because the marriage promise is complete.
From the social-norm aspect, the recipient should return the engagement ring to the gift giver in case engagement is called off. Therefore, the gift giver can ask for the gift back. If the couple could not agree on this issue, they can refer to the court to determine who is entitled to keep the ring.
Can you return an engagement ring if she says no?
You can return the engagement ring to the original jewelry shop if you have discussed the return policy. Some jewelry shops accept a full refund for non-personalized engagement rings. It is rare to find a jewelry shop that accepts a full refund. The return option is the quickest way to exchange the ring for your money back. Most of the time, though, the engagement ring value is halved once you walk out of the jewelry shop with it. Regardless if your partner wore the ring or not, jewelry shops will consider it as a used one. Therefore, before buying the engagement ring from a jewelry store, please learn about their refunding policy.
Some jewelers may accept to exchange the ring, instead of a refund. If you are no longer comfortable with that ring, you can accept the possibility to exchange your ring for credit. This way, you may not receive your money back, but you can at least have the credit within that store so you can either get a new ring later, or even change it out for some jewelry for yourself!
Most jewelers accept returned, unworn engagement rings for 30 days from the date of purchase. When you decide to return the ring, you should include the original ring documents. You need to include receipts, certificates, maintenance records, appraisals, and ring box with the engagement ring, itself.
If you have bought the ring online, returning the ring may prove to be a bit more complex. First, you need to check the website for the company’s return policy. Most websites clearly state their return policy. If you could not find the required information, you should make a call and request for more information.
We would not suggest that you buy your engagement ring online. There are some considerations that one would need to make in online purchases. Here is a helpful link for you to consider about your online engagement ring purchases. Online-Ring-Purchase Considerations
How can I sell my engagement ring?
Selling the unwanted engagement ring to others is a better option. The resale process may take longer than returning the ring. However, you can manage to sell it to others, at a higher price, in comparison to the return option. A real jewelry buyer will pay you what the ring is worth based on the value of ring materials, including the gemstone.
If the ring was appraised at the time of purchase, then you should be aware of its worth. If you don’t know how much the ring is worth, you may need to get an estimate for its replacement value. Local jewelers or pawn shops can give you a rough estimate of your ring. For the most accurate worth, you need to get lab reports from GIA or similar agencies. The existence of certifications and other documents, the setting, the value of the diamond, the condition of the diamond, and market conditions are influential factors to determine the selling price.
Engagement ring certificates should be kept safely for future uses. These certificates include some specific data about your ring characteristic. So, I would like to introduce a link for further information on jewelry certificates and related agencies. Independent Diamond Certificates
You can try selling your engagement ring through online websites like eBay or even social media platforms. In addition to online resale platforms, jewelers and large retailers will also buy your second-hand engagement rings. Sometimes, you can sell your engagement ring to someone you know. The ring may work well for others.
Engagement ring selling may take a longer time, but once you sold it, you’ll receive more money than just simply returning the ring. This being the case, it’s best to practice patience if you want to maximize how much you receive when you sell the engagement ring.
Selling the ring is much better than keeping it for the next romantic relationship. Keeping the ring could be a bit of a problem for you, simply because it can bring back all of the negative emotions, and even remind you of that “No” you received when presenting it to your partner. So, letting the ring go would easily be the best option, whether you’ll sell to a shop or to others. If you couldn’t manage to get it to a retailer or jewelry store, there are always other options to try.
How can I pawn my engagement ring?
It is easy to pawn your engagement ring. First, you need to find a good pawnbroker. Try looking for someone experienced in jewelry pawning, as they offer better prices for your ring. Second, you need to know the actual worth of your ring. There are online pawning platforms, which help you get a rough estimate of your ring. After your pawnbroker declares his offer, you can negotiate to get the best deal for your loan.
Pawning an engagement ring is not the best option, but it’s an easy way to ease some short-term debt by putting the ring as collateral. Pawnbrokers do not pay the actual worth of your ring. They price your engagement ring based on what it is worth to them and the demand in the local market. Therefore, it is better to get an estimate before you refer to your pawnbroker. Having an estimate helps you to negotiate a good deal.
How can I deconstruct my engagement ring?
You can always go back to your original jeweler to have your engagement ring deconstructed. This way, you keep the center stone while giving away your ring. By deconstructing the ring, you will experience some financial loss. However, it is a better idea than saving the engagement ring for your next proposal.
People mostly change the setting of their engagement rings because of damage over time. However, it is also possible to reconstruct it for break up and failed proposal occasions, as well. Jewelers determine the cost of engagement reconstruction depending on the metal, the style, and how complex the original ring is.
Should you choose to save the ring?
Keeping the engagement ring is usually a bad idea unless it is a family heirloom with sentimental value. It would be best if you didn’t sacrifice a family heirloom over a failed relationship. Some people prefer to keep it because they couldn’t find a good deal for either selling or returning the ring. If you were to do that, keep the ring in a safe place and consider buying a new one for your future partner.
If you, however, choose to keep your ring for your next special person, you will face two scenarios:
- You will have to confess that the ring you intended the ring for another person. In this scenario, your future partner will not be thrilled to wear an engagement ring that was originally bought for someone else.
- Or you never mention your feelings toward the ring and your ex-beloved. This could even lead to the potential of having to be a bit dishonest about the ring’s origins later.
Ultimately, you will need to decide on what will happen with the ring. Failed proposals and divorces are unfortunate events in life, and it takes time to recover. However, you can always recover from financial hits by getting the engagement ring, a new home, with a jeweler or pawn shop.
Do diamonds have resale value?
Diamonds have a resale value. Both quality and size of the diamond can have a significant impact on the resale value of the diamonds. For size, the greater the size(carat) of the diamond, the more chances to resale it. Diamond value depends on demand and supply ratio and does not change as often as gold.
Where can I buy an engagement ring in Chicago?
Among jewelry stores in Chicago, Weddings Bands & Co. offers more variety of engagement rings with incredible quality and unique designs. The designing department provides the best consultation for personalized engagement ring designs. Also, clients can choose among the vast collection of rings and jewelry in our showroom.
We'll help you to design your dream engagement ring without stress and spending countless hours searching for your perfect ring. All you need to do is click on "Free Consultation" to get started.
By: Koorosh Daneshgar CEO/Design Chief