One man’s heartbreak is another’s good fortune – at least that’s what one Virginia Beach man hopes will come out of his failed engagement by giving away the coveted ring in an online contest.

To enter, couples (preferably those who cannot afford an engagement ring otherwise) have to submit a video telling their story online to Steven Crocker.

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Should the story resonate with Crocker, then the couple will be the new owners of a $1,700 white gold ring.

According to the New York Post, Crocker was set to propose to his girlfriend last year but never got the chance to as the relationship ended a month before his planned proposal.

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Crocker tried to sell the ring but wasn’t happy with the offers he was getting.

“I tried selling this ring to a handful of places and was offered a very depreciated value that I didn’t want to take because it’s not about the money, for me, it’s about love, and I’d hate to see a good ring go to waste, so I’m going to give it away,” he wrote in a Facebook post last weekend. “I’ve thought about this a lot and obviously by the timestamp of this post you can tell it has kept me up at night.”

So Crocker decided to do the contest in hopes that a couple who is struggling to afford a ring can find happiness with the one he’s giving away.

“It’s not the fanciest ring in the world but it can potentially make someone very happy for the rest of their life,” he wrote.

Crocker’s move seems to have really resonated with social media.

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“This is just so sweet of you to do this,” Christine Montgomery commented on Facebook. “Thank you for helping a couple out. I hope you find the one and have a wonderful family in the future.”

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“I pray your ex has a change of heart after seeing this,” Kathleen Jayne Flippo wrote.

“So sorry for your circumstances,” Charlene Mortillo said. “But what you are doing is truly wonderful. Paying it forward will bring you nothing but joy in your heart. [Thank you] for offering this.”

The size 3.5 ring is from Kay Jewelers and includes a half carat diamond set in 14-karat white gold.

As of Thursday, Crocker reports that he’s received over 400 responses for the ring, but has yet to read through them all.

“I will slowly begin to chip away at them and accept more until I find the one,” he said. “I won’t pick a lucky couple until after I have read all of them and submissions begin to plateau; no telling when that will be.”

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