When looking to sell a ring, you will likely have some questions. Top of mind is of course “how much is my ring really worth?” and “how do I find out how much my ring is worth?”. Whether you purchased ...
How to Sell Gemstones OnlineJuly 25, 2017 - Jewelry Articles
Gemstones come in all shapes, forms and colors. With multiple record-setting gemstone sales occurring in the past few months, it’s clear that the secondhand market for stones is only continuing to grow.
Some of the most popular gemstones include:
- Diamond – The most popular gemstone on the market, diamonds come in a wide range of colors, cuts, shapes, and sizes.
- Ruby – Found all over the world, including Myanmar, Vietnam, Mozambique, and Brazil, rubies are desired for their red color and durable nature.
- Sapphire – Ranging in color from blue to pink to yellow and more, sapphires are prized for their rarity and historical significance.
- Emerald – Made from the mineral beryl, emeralds are best defined by their green hue, which stems from trace amounts of chromium and vanadium within the beryl.
- Amethyst – A form of the gemstone quartz, amethyst was known as the “Gem of Fire” in Ancient times.
- Topaz – Topaz gemstones, found in colors such as blue, green and orange, are well-known for their hardness and durability
- Citrine – Especially popular during Roman times and the Art Deco period of the 20th century, citrine is the golden-yellow variety of quartz.
- Aquamarine – The green/blue variety of beryl, aquamarine stones are often found in very large uncut sizes.
- Quartz – Quartz, a popular stone since antiquity, comes in many different forms, including citrine and amethyst.
- Rubellite- Found in Madagascar, Mozambique, Nigeria, and Brazil, rubellite is the pink and red form of tourmaline.
- Tourmaline – Thought to promote healing, tourmaline gemstones are found in a variety of colors.
- Tanzanite – Mined at only one location in Tanzania, Tanzanite is a rare and stunning gem.
Whether you are looking to sell a gifted gemstone, get rid of a gemstone piece you no longer wear, upgrade your jewelry or simply make some extra cash, selling your gemstone doesn’t have to be a stressful venture. With the right preparation, selling your gemstone can be a satisfying, lucrative undertaking. Read our guide to selling gemstones below to get answers to the following questions:
- How much is my gemstone worth?
- Where to sell gemstones for the best price?
- What gemstones can I sell?
- How do I sell my gemstone online?
HOW MUCH IS MY GEMSTONE WORTH?
Before you begin the process of selling your gemstone, it can be helpful to have some expectations about price in mind. Due to high mark-ups across the jewelry industry, typically gemstones will fetch about 20%-25% of their original retail value. High operating costs such as rent, wages, marketing, etc. mean that jewelry companies heavily mark up their goods in order to turn a profit. Still, the ultimate value of your item on the secondhand market will largely depend on the following characteristics:
- The 4 C’s – The 4 C’s (color, clarity, cut, and carat weight) have a large impact on the worth of your item.
- Color – Color often has the largest effect on the price of your stone. The most desirable color depends greatly on the type of stone.
- Clarity – Clarity refers to the number of inclusions, or flaws, that your gemstone has. Many gemstones have inclusions, but the value of your item can change greatly based on the size, appearance, and type of inclusion. Typically, the more visible the inclusions, the less desirable your item is, and thus the less valuable on the secondhand market.
- Cut – Cut can drastically affect the appearance of your gemstone. High quality cuts can minimize inclusions and maximize a stone’s color and visual appeal.
- Carat Weight – Generally, the greater the carat weight, the more valuable your gemstone is.
- Rarity – The rarer the type of gemstone, the greater it’s worth.
- Condition – If your gemstone item is chipped, cracked, or otherwise in poor condition, it may have a negative impact on its price.
- Origin – Depending on the type of gemstone, the origin may be a factor in its value. Gemstones from a particular region will have a similar appearance, often containing the same types of inclusions and a similar color. If your gemstone hails from specific region that regularly produces high-quality, visually appealing stones, then it will likely be more valuable than if it hailed from a region known for its lesser quality stones. The most valuable regions for your gemstone to hail from are:
- Ruby – Burma
- Sapphire –Kashmir, Burma, Madagascar
- Emerald – Colombia, Zambia, Brazil, Zimbabwe
- Amethyst – Zambia, Brazil, Uruguay
- Topaz – Brazil
- Citrine – Brazil
- Aquamarine – Pakistan, Brazil
- Green Quartz – Brazil, USA
- Rubellite – Brazil
- Tourmaline – Brazil
- Tanzanite – Tanzania
- Market Conditions – The market conditions at the time of sale can have a large impact on your item’s price. Certain styles or types of gemstones may be more in demand at the time of sale, and thus able fetch a higher price.
- Treatment – Gemstones are sometimes artificially treated in order to improve their appearance. Some common treatments include dyeing (a process in which dye Is introduced to the gem to enhance its color), fracture filling (gemstones are filled with materials like glass, oil, or wax to minimize the appearance of inclusions), heating (gems are heated to remove discolorations and improve the stone’s color), irradiation (exposing a gemstone to radiation to alter its color), and others. Treated gemstones are less desirable than natural ones and thus less valuable.
WHERE CAN I SELL GEMSTONES FOR THE BEST PRICE?
Some of the most popular ways to sell gemstones include:
- Selling in-person – Jewelers and pawnshops are two of the most common ways to sell your gemstone in-person. Though it can be convenient to sell your item locally, selling to someone like a jeweler will fetch a low price unless you sell on consignment. Consignment can be a long process with high fees and no guarantee of sale. Additionally, pawn shop owners will likely not know the particularities of the market for your gemstone and may simply be looking to sell your gemstone to a specialized dealer in order to make a quick profit—profit you could have kept for yourself.
- Selling online directly to consumers – Websites like eBay and Craiglist are user-friendly ways to sell your stone online. Still, it can be incredibly difficult to price your item competitively without expert knowledge, and you will likely unknowingly receive a low price.
- Selling online to specialist jewelry buyers – Online specialist buyers like WP Diamonds offer a quick and easy service for selling your stone. Our gemstone specialists have the knowledge and expertise to offer you fair and competitive prices.
WHAT GEMSTONES CAN I SELL?
WP Diamonds purchases a variety of gemstones in different colors, cuts, and sizes. We are interested in gemstones that meet the following criteria:
- Round white diamonds: 0.2 carats or more
- Fancy Shaped (i.e. non round) White Diamonds: 0.5 carats or more
- Colored Diamonds: 0.5 carats or more, GIA-certified
- Sapphire: 1 carat or more
- Ruby: 1 carat or more
- Emerald: 1 carat or more
- All other gemstones: 3 carats or more
HOW DO I SELL MY GEMSTONE ONLINE?
WP Diamonds offers a quick and easy way to sell your gemstones online for money in as little as 24 hours:
- Fill out the online form.
- Receive your initial price offer.
- Make an in-person appointment or mail in your gemstone by free, insured FedEx Overnight Priority mail.
- Receive your final price and get paid.