According to the American Psychological Association, about 40 to 50 percent of marriages in the United States end up in a divorce.* With a divorce every approximately 36 seconds,** we can’t help but wonder what happens to all those engagement rings. What does a newly divorced woman now do with her diamond? How does she feel about selling it? We polled our clients to find out.
While some of the results confirmed our intuitions, other ones surprised us. The first question asked what had been stopping our clients from selling their diamond rings. We were surprised to see that only 3 out of 10 women replied that they were still sentimental about their rings.
When asked what they wanted to feel when selling their engagement ring, 6 out of 10 said they wanted to be confident that they’re getting a fair price, and 1 out of 10 prioritized being in control of the process.
The third question said: “My diamond ring was once such an important part of my world. Now, I want to…”. The most selected answer (by 7 out of 10) was: “Be as smart as I can be and get the best value for it.” This was followed by “Recycle it and turn it into a brand new piece of jewelry”, which was selected by 2 out of 10 women.
The last question asked what would they do with the funds resulting from the sale of their engagement rings. The top 2 answers had to do with financial aspects: 4 out of 10 women would use the money to pay bills, and other 4 out of 10 to save for a rainy day. “Taking my kids to Disney” stands out as the most selected option among the rest.
See the infographic below to learn the main insights!
Did you miss the survey? Leave us a comment below and tell us how do you feel about what selling your diamond ring!
*American Psychological Association.
**National Center for Health Statistics