What to do with engagement ring?

Hi -

I, unfortunately, can no longer wear my engagement ring because I am getting divorced.
I hate to part with it - it is so beautiful, but obviously I can't wear it anymore.

Anyone out there do something with your ring - instead of selling it?

I have spoken to 2 jewelers, and I got 2 very different responses.

First, here is the information on the diamond as well as the mounting:

The diamond was GIA certified in October of 1998.  So unfortunately I do not have
information on the pavilion etc.  Here is what I have:

Round Brilliant
6.69-6.73 x 3.76MM
1.01 carats

Depth is 56%
Table is 64%
Girdle is thin to medium, faceted
Culet - None
Polish - Very good
Symmetry - Very good
Clarity - VS2
Color - H
Fluorescence - None

I have learned that the cut is not a good one.  I seem to recall that my husband
chose to go with a diamond that appeared a bit bigger, even though the depth
was sacrificed.  I happen to think it is a beautiful diamond with a great deal of
beauty - but when it comes to how diamonds should be cut - this diamond was
cut to appear larger and cost less.  The diamond was purchased based on a referral,
and we do know the owners. 

The mounting is all platinum, diamonds in mounting are of same quality as above.
One round .40ct diamond on either side of large center stone, followed by
two baguettes on either side. 

Ring's appraisal by jeweler is $9400.  I believe it cost about $7500.

Jeweler #1 called a diamond wholesaler for me in NYC and he said the diamond's
wholesale worth (diamond alone) is $5300.  He did NOT tell them the cut dimensions.
He said the total price of the ring - retail - would be about $8900 (wholesale about
$7400.)  But he said ofcourse I would not get a jeweler to buy it from me for anywhere
near that.  He offered to put it in his case and sell it on consignment.  That he would
get 1/3 and I would get 2/3.

Jeweler #2 looked at the ring himself and immediately commented on the cut.  He said
he does not even sell diamonds with a 56% depth and many people nowadays would
not buy such a diamond.  He said I could not get more then $2500 for the diamond alone.
He said my best bet is to sell the ring already set - not to try and sell the diamond by
itself.  He said my first step should be to go back where it was bought - and they should
try to sell it for me - for a 20% commission.

OR he suggested I remove the diamond, and put a saphire in it.  Or remove the diamond
and make a pendant or ring.  And take the 2 side stones and make studs.  The setting he
had for a ring was very nice - and did not look like an engagement ring.  But having the diamond reset in the mounting would run me about $900.

Can anyone give me a good idea on what this diamond is worth?  How about some ideas
on what to do with the diamonds?    It does not seem worth it
for me to try to sell it - I hate to lose the value of the diamond by selling it, but on the other
hand I am wondering if I will want to wear that diamond around anymore - that feeling
will probably subside.

Any feedback is much appreciated!!

"I don't feel enjoyment watching films that evoke passivity. If you need that kind of comfort, I don't understand why you wouldn't go to a spa." Chan-wook Park

"I don't feel enjoyment watching films that evoke passivity. If you need that kind of comfort, I don't understand why you wouldn't go to a spa." Chan-wook Park