Time to give more green credit to the recessionistas. A New York Daily News story from today examined the trend of women selling their old engagement rings to websites like IDoNowIDont.com after marriages or engagements dissolve. In better times, women often kept the rings for sentimental reasons (even if the relationship ended badly) or turned them into necklaces or bracelets. Now, they're craving cash.
By selling to an online retailer, a woman is likely to recoup more of the ring's value than if she were to sell it to a wholesaler. Basically, it's a fancier online version of a pawn shop. A woman is legally allowed to sell her ring if she married the person who gave it to her; if the engagement does not result in marriage she is obligated to give the ring back to her ex-fiancee. If he does not want it, though, she's free to sell it and keep the cash. Each ring that the site sells is checked by a gemologist and verified for authenticity. Of course, it would be a good idea to have your jewelry appraised independently before putting it up for sale.
So how is this green?
Men (or women!) ready to propose who buy off a website get a great bargain - rings often go for half their value. This way, they avoid buying a brand new ring, which consumes additional resources. Or you can order for an e-tailor like Whiteflash.com that includes a lifetime upgrade policy on all diamond rings.
