My mother recently died and left lots of jewelry, some costume and some other real. The biggest problem is how to fairly divide this...mainly her diamond ring. My sister told me prior to my mom's death that she never liked my mom's diamond ring. Now she claims she does and that if I want it I should pay her half the price I could get for it. I'm hoping that I don't have to do that..and have suggested we could do it another way. Does anyone have another way to do this? The ring is over 2 carats but it has 2 small chips in it that are hidden by the setting. The pawn shop I took it to says they would only pay 7,000.00 even tho' if it didn't have any chips it would be worth 25,000.00 so my sister wants her half of 7,000.00. Is this the only fair way? Help!! There's lots of other jewelry and she has two daughters and i have 2 sons. We are both in our 60's and should be saving for retirement rather than spending money on what is our inheritance. HELP!!
2007-03-28 09:54:51 · 32 answers · asked by texgalgreeniis 1 in Family & Relationships ➔ Marriage & Divorce
Sell the ring and split the money.
A ring isn't worth losing a sister.
2007-03-28 09:58:45 · answer #1 · answered by daljack -a girl 7 · 3⤊ 1⤋
Get all of the jewelry appraised by a reputable jeweler, or 2-3 jewelers. Don't go to a pawnshop. A pawnshop will only give you maybe 20-30% of the true value.
The fairest thing would be to sell the ring, and split the proceeds.
If you won't do that, remove the stone, and give one the diamond, and the other the ring and chips. If the stone alone is worth more than the rest, take enough of the other jewelry to make it equivalent, dollar-wise. Then split the rest.
If neither of you wants to do that, get the rest of the jewelry appraised as well. Divide it so that there is a fair split, dollar-wise, and flip a coin over the ring.
2007-03-28 10:10:57 · answer #2 · answered by Ralfcoder 7 · 0⤊ 0⤋
Im sorry but she is right, if the ring is to be divided between 2 people(wasnt left specifically to one) then the way to do that would be to sell it and each get half of the money-just as is done with homes and other things etc, when they are left to more than one person, so yes if you do not want to sell the ring and keep it it is right that you "buy her half". I really dont understand what other way you think there would be-i understand you say you should be saving for retirement and not spending on your in herritance-but it is HER inheritance also-so if that s the case then you have to decide to part with the ring sell it and keep your half of the money for retirement-or splurge and buy her half--im sorry but i dont see why you feel the ring should just be yours ehrn it was left to you both-if it is because she once said she didnt like it that does not mean she dont like the money it is worth!
2007-03-28 11:00:20 · answer #3 · answered by roxy 3 · 0⤊ 0⤋
no offence but if its a real diamond you need to find the certificate that came with it ,there would be no way your mother would have thrown that out if its real , take it to a proper jeweller with the cert and he will value it correctly NOT A PAWN SHOP , once that's done he will tell you what its worth then either you sell it and split the money or what ever sister keeps the ring ,gives the other sister half the amount .
I'm not being smart but do get the diamond looked at cause real diamonds don't chip and thay don't get effected if you put them in a furriness
2007-03-28 10:19:52 · answer #4 · answered by fafandloo 5 · 0⤊ 0⤋
Why are you taking this to a pawn shop instead of getting it properly valued? Don't believe the sh itty price they tell you!
You should get a number of valuations done on it if you really want to sell it.
Has the pawn shop told you that the diamond has 'chips' in it? He may be blagging you to get this ring cheaper. It could be a flawless two carat diamond and worth much much more!
Be careful and don't be rushed into anything. Do your homework and you will get the best price.
2007-03-28 10:01:34 · answer #5 · answered by Anonymous · 0⤊ 0⤋
You could sell the whole lot and split the proceeds. Or pick out what you each wanted, to the same value. Or you could have the diamond ring and divide the rest between you with your sister getting extra to cover the value of her half of the ring. Im glad I dont have anything of real value for my kids to fall out over, its such a shame when her jewellry should be bringing you both good memories, not causing squabbles.
2007-03-28 10:02:06 · answer #6 · answered by jeanimus 7 · 0⤊ 0⤋
when my ex mother in law was diagnosed with a terminal illness she actually went through her pocessions and put a lable on he was to have what! As not everyone is as organised as this, you could do what my ex did with the remaining items of value. He wrote tickets for everything and everyone pulled out a ticket and were given whatever was written on it. It seemed the fairest thing to do. We were left rings and in actual fact I shared them out with my daughters because I thought that their grandmother would have wanted them to have theml. Again, I actually put them behind my back and asked the girls to choose. The most precious things that someone can leave you are is their memory and there is no price on that - they stay in your heart for ever. If you and your sister can't come to some reasonable way of resolving this, I would sell the ring and split the proceeds, perhaps buy something for each of the grandchildren as a keepsake.
2007-03-28 11:38:48 · answer #7 · answered by MrandMrs 2 · 0⤊ 0⤋
Isn't it sad what money does to people.
Honestly - I think I would give her the ring and make it her problem to figure out.
You had a good life before the ring came into it - now it's dragging you down. Let it drag your sister down for a while, and free yourself.
This ring must have many memories tied to it - keep the memories and let the ring go.
Best wishes.
2007-03-28 10:02:36 · answer #8 · answered by Stan W 5 · 0⤊ 0⤋
Yikes. This has bad written all over it. Did your mom express that it go to anyone in particular? Obviously it should stay in the family and not be sold. If it is the most valuable piece, then I think she should pay you half the value if she wants it or vice versa. Maybe there is something else she wants of your mothers that you can do a sort of "trade" with? Beware...people's true colors show in these situations.
2007-03-28 10:02:11 · answer #9 · answered by SuzyQ 3 · 0⤊ 0⤋
There are six of us kids. When my mom died, for things she didn't specify (actually she included in her will that the rest of the things be divided "sanely" - cool word for her to use), we made lists and piles of stuff. For example, for the "pricier items", we made six lots - eg. one was her engagement ring, a ruby and diamond dress ring, her fine china, a fur coat, etc. I forget what else. For those, if there was something someone wanted, it was theirs. If there was a disagreement, there would be a draw.
For other stuff, we made six piles, then drew numbers.
Other thing to do is sell the ring and split the money.
2007-03-28 14:18:01 · answer #10 · answered by Lydia 7 · 0⤊ 0⤋
Doesn't money and possessions bring out the best in people?
Your choice - destroy your relationship with your sister or sell the ring and split the proceeds. One of you has to be humble to save the relationship. Is the ring worth it? Would your mom be happy about you two fighting over this ring?
2007-03-28 10:00:01 · answer #11 · answered by Stefka 5 · 2⤊ 0⤋