You got engaged. Nice work on scamming her into saying “Yes!” But before you and your soon-to-be life partner start sending out “save the dates” and writing checks to florists, caterers, and venue operators, there are some things you should know …
#1. YOU CAN GET THE RING BACK … MAYBE
Forget the “four Cs”, the real facts about engagement rings are in the fine print, especially if you find yourself in a situation where things don’t pan out before the wedding. First, get it independently appraised. Jewelry stores mark up rings sometimes up to 300 percent. So when you sell it, assuming she hasn’t thrown it into a river, you’ll be taking a loss.
Also, remember when getting that ring back, you have the law on your side. Maybe. It actually depends on what state you live. Some states stipulate that the ring symbolizes a contract to be wed, so no matter who breaks the engagement, the ring goes back whomever bought it. Others say that if you give it to her on a “gift day” like Christmas or her birthday, it’s hers. So propose on Flag Day. Better safe than sorry.