If you have gemstones you want to sell, the first question you probably have is where to do it. The answer depends on a number of different factors.
We’re going to look at all of those. And we’ll provide information and links to some of the best places to get a fair deal.
So read on to find out where to sell gemstones, and the factors to consider when you do.
What are your options?
To start with, it’s important to find the right kind of buyer. That will depend on the value of the gemstones you’re selling.
If you have an extensive or valuable collection, premium auction houses can be a good choice. Christies and Sotheby’s have minimum standards for the quality and value of their lots. And you’ll have to pay a fee and commission.
But they have a network of specialists who will appraise your items and ensure they’re cataloged appropriately. And your items will reach their international audience of well-heeled clients.
They will also provide advice on the best route for selling your gemstones, whether that’s a live or online-only auction. And they can also broker private sales for a discreet way to sell high-value items.
For gemstones with a more modest value, pawnbrokers and peer-to-peer platforms are a better bet. You may be able to sell your item directly to the broker, or to have them facilitate a deal.
If you’re selling gem-set jewelry, jewelers are another option. They may also be prepared to buy loose gemstones that have fallen out of their settings.
You’ll usually need to send your items for appraisal before receiving a quote. In some cases, online dealers will provide a quote using information and photographs sent to them. But they will usually reserve the right to change their offer when they see the gemstones in the flesh.
If you don’t accept the offer or estimated auction sale price, your gemstones will be returned to you. But note that some companies will require you to pay the shipping and insurance costs.
How much will you receive?
It’s very difficult to predict exactly how much your gemstones will make. That’s because the price depends on the characteristics of the individual stone, including its size, color and luster. Finished gemstones will also vary in price, depending on the cut.
Check the fees and commission that will be charged before you decide where to sell your gemstones. And remember to take into account any additional taxes.
It’s also important to be clear about when you’ll be paid. This can vary significantly, depending on the broker’s policies.
Below we check out some online brokers who buy gemstones, and explain how the process works.
Online gemstone brokers
1. Pampillonia
Pampillonia is one of the leading buyers of gemstones online. You can sell either individual items or a whole collection, unwanted jewelry or loose stones. Gemstones accepted include diamonds, sapphires, emeralds and rubies. They do, however, have strict criteria for the quality of the stones they will accept.
You can mail your items to them for appraisal. Note that you will need to cover shipping costs yourself, although Pampillonia can advise on the process, including insurance.
Alternatively, have your gemstones inspected in person at their store in Bethesda, Maryland. Do this, and you can receive payment in cash or by check the same day.
2. Worthy
Worthy provides a curated auction experience, authenticating all the items before sale. Diamonds will be graded prior to sale too. This, they argue, gives customers the confidence they need to pay the highest prices.
They sell loose diamonds and gemstones, as well as jewelry. You’ll need to ship your items to them in advance for appraisal. You’ll then receive an estimated sale price, with the items returned to you if you no longer wish to proceed.
Sellers’ fees vary depending on the value of the sale, ranging from 10 to 18 percent. You’ll be paid by PayPal, bank transfer or check between 1 and 5 days after the sale. (If you sell a “jewelry box” of three items, payment won’t be made until the final item has sold.)
3. Loupe Troop
Loupe Troop is another website that provides a platform for you to sell directly to buyers. As such the payment terms are a matter for you to negotiate with your buyer.
The time it takes to complete a transaction depends on how long it takes to find a buyer. Loupe Troop don’t purchase any items themselves. But it’s a good way to find buyers looking for both jewelry and loose gemstones.
You set your own asking price and post a description and images of your item. There’s also a dedicated messaging function to allow you to interact with potential buyers without giving personal contact details.
4. Pawn America
Pawn America is based in Minnesota and Wisconsin, but can handle shipments from across the USA. The process is slightly different, depending on where you live.
To start with, you’ll fill in an online form, and submit it together with photographs of your gemstones and jewelry. You’ll also need to send a photograph of yourself, one of your driver’s license, and one of you, your items and your driver’s license together.
If you live locally, you can then bring your items to a local store. If you don’t, you’ll need to mail them. You’ll be provided with a shipping label free of charge, although you’ll need to pay for any insurance. You’ll receive an estimate by text or email within an hour of the item being received.
If you accept the valuation, payment is loaded onto a JELLI card, which you use like a debit card. If you don’t accept, you’ll need to pay a charge for your items to be returned to you.
5. FirstCash
FirstCash operates over 2,700 pawn shops across the USA and Latin America. They’ll accept gem-set jewelry, but may not buy loose stones.
You’ll need to visit a store for your item to be appraised. But as long as you’re near a branch, the process is quick and easy. And you can get your money the same day.
Note that the transaction isn’t quite the same as a sale. You’ll be exchanging your item for a loan for a specified period, usually 30 days. At the end of that time, you can pay back the loan plus interest and retrieve your item. Or you can decide not to pay, and ownership of your item will pass to the pawn shop.
6. Tiffany Buyer
Tiffany Buyer buys gemstones direct, and takes a wide range of different stones. As well as the standard rubies, emeralds and sapphires, it accepts alexandrite, aquamarine, jade, opal and spinel. Check out the website for a full, up-to-date list.
You can get a quick quote by filling in an online form and uploading images of your gemstones. A quote will be provided, and you’ll then need to send your items by registered post. You’ll be responsible for arranging insurance.
Payments are made quickly by bank transfer. The funds should appear in your account within 24 hours of the item being received.
7. WP Diamonds
WP Diamonds are another broker that promises you’ll receive funds within 24 hours of accepting their offer. They buy loose diamonds, diamond jewelry and designer jewelry.
The process begins with you completing a form on the website, providing details of your gemstones. You’ll find this much easier if you have a certificated diamond with details of the color, carat and clarity. If you don’t, an online diamond calculator will help you assess the carat weight.
You’ll then receive an estimate in the form of a range, which will be confirmed on receipt of your item. Shipping and insurance are provided free of charge. WP Diamonds will even handle the process for you if you need to make a claim.
8. Diamond Buyers
If you’re looking to sell diamond jewelry or loose diamonds, Diamond Buyers could be for you. They’ll also buy high-end pieces by the likes of Bulgari or Cartier.
They’re located in Houston, Texas, and you can take your gemstones there for appraisal. Your items will be appraised while you’re there, and you’ll receive an offer straight away. Payment is made immediately if you choose to accept it.
Alternatively, fill in a form online, or call the helpline to discuss your gemstones. Then request a “Sure Ship” kit to get your items securely to the store. Shipping and insurance costs are covered for you, and you’ll be able to watch a video of your item being unpacked and appraised.
An offer is made within 24 hours of appraisal, with immediate payment via check or wire transfer if you accept. And unlike some firms, if you decline the offer, they’ll return your items to you free of charge.
Ready to sell your gemstones?
We hope our guide to where to sell your gemstones has helped you in your research. There are lots of good options out there, whatever the value of your items. Pawnbrokers, jewelers, auction houses and peer-to-peer marketplaces all have something different to offer.
Just make sure you check for costs like shipping or insurance. And remember that different companies have different processes and timescales for making payments.
Here’s wishing you all the best for a smooth and profitable transaction.
