06 Aug The Wedding Is Off. Who Keeps the Engagement Ring?
If you want to sell your engagement ring, you are not alone. Here at Barry’s Pawn and Jewelry in Boca Raton, we have been able to help many people sell and engagement ring that no longer represents the love they hoped would last a lifetime.
As Best Life reports, WP Diamonds did a survey to see how often engagements are broken, for one reason or another. They talked to a thousand people across the nation who were between the ages of 20 and 60. “According to their findings, a whopping 20 percent of all engagements are called off before the wedding,” Best Life says.
If your engagement didn’t work out, we feel for you. Chances are, however, that you are doing the right thing.
“Whatever the reasons for the breakup, it seems like most people feel pretty good about their choices,” Best Life says. “According to the survey, 82.7 percent of people don’t regret breaking up, and only 7.6 percent of people blame themselves for a failed relationship. Around 40 percent said it was the other persons’ fault, and the same number of people think both parties are to blame.”
What to Do with the Ring
If your former sweetheart gave you jewelry for your birthday or as a holiday gift, there is no question – it is yours to keep. An engagement ring is different, though. As USA Today reports, “An engagement ring generally also comes with the condition of the promise to get married.”
Anita M. Ventrelli, a senior partner with the Chicago law firm of Schiller, DuCanto & Fleck, told USA Today, “In the case of the ring as consideration for the promise to marry, if one does not perform on the promise to marry, one is not entitled to keep the consideration.”
The law varies from state to state, but in most areas of the country, USA Today says, “The ring is returned to the gifter if there is no wedding.”
If selling your engagement ring would make it easier for you to move on, the experienced jewelers at our Boca Raton pawn shop are here to help.
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