I read the link Nella sent and it mentions that lapis should not be soaked in water, as it would ruin the stone. I should think a gemologist as your Etsy seller calls herself should know this and would therefore not make a ring with this stone. It sounds as if this stone should only be made into earrings or a necklace at most, since the stone is so soft. And the seller should have made their buyers aware that everyday wear and tear can ruin the stone.
Please keep us updated, as I hope Etsy can help you!