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Pawn That Engagement Ring!

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Pawn That Engagement Ring!
Women are staying afloat in the recession by hawking their old rings.

You both thought two months salary would last forever...but it never got that far. But just because your heart is broken doesn't mean you have to break the bank staying financially afloat during this recession.

Take a cue from these ladies in the New York Daily News who brought their engagement rings down to the pawn shop.

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These days 'the pawn shop' is online, of course. The site IDoNowIDon't.com has seen record site visits and "a banner month for product sales," says the owner. One ex-fiancee hawked her $30,000 five-carat, Bulgari-inspired engagement ring online and fetched $18,000 to help her pay off debts and start a new company.

This might just pertain to New York State, but the Daily News says the law is that the engagement ring belongs to the man until the couple is married, at which point it becomes the property of the woman. (Good to know before you start selling!)

We've hawked Christmas gifts from ex-boyfriends, so we totally get it. But what about the guy who just saw $30,000 of his money, not to mention dreams of a life together, go down the tubes? Might some men who aren't as sure of their decision to propose hold off, or opt for a cheaper engagement ring?

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We wouldn't be surprised if one of the consequences of this recession is a "now is not a good time to get married" mentality. What do you think?

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