How To Sell Gemstones In 2023

From ancient China to ancient Greece and ancient Egypt, gemstones have long been treasured for their beauty and rarity. At that time, no many people could sell gemstones.

Here’s a fun fact for you. Greek philosopher, Plato, suggested that there were celestial spirits embodied in diamonds. Given that Plato is regarded as one of the smartest people to have lived, that suggestion should give you an indication of how highly diamonds (and other precious stones) were thought of.

We are in the 21st century and the obsession for gemstones has not waned. 

Royalties, movie stars, and every other celebrity still covet these precious minerals and place a premium price on them. You most likely do too.

But unlike centuries ago, with the rise of eCommerce platforms like Shopify, it’s become easier than ever to sell gemstones online. If you have a love for gemstone jewelry, you can start competing with leading jewelry brands like Bulgari, Piaget, and Harry Winston.

The market for gemstones is valued at $32.38 billion. That number is expected to double over the next 10 years.

Does that sound good to you? Then keep reading.

This blog post will provide you with the tips you need to start selling valuable gemstones effectively online. 

Outline

• What exactly are gemstones?
• How do I sell gemstones online?
• Sell your gemstones privately
• Sell your gemstones through dealers and auction houses
• Sell your gemstones on sites like Etsy and Ebay
• Sell your gemstones on Shopify
• Risks involved with selling gemstones online
• What do you need to succeed at cutting and selling gemstones?
• High quality inventory
• Effective sales and marketing tactics
• Experience with gemstones
• How are gemstones graded?
• Clarity
• Color
• Cut
• Carat weight
• How much is your gemstone jewelry worth?
• Can you sell valuable gemstones again?
• Examples of Shopify stores that sell gemstone-related products
• Conclusion

What exactly are gemstones?

Gemstones are valuable pieces of minerals or rocks that are formed naturally in the earth. They come in various sizes, shapes, and colors.

Source: Pexels

Some of the most popular gemstones include diamonds, emeralds, garnets, rubies, and lapis lazulis.

The most common use case for gemstones can be found in jewelry.

But they are not just limited to that. Gemstones can also be used for other decorative works. 

Quartz, for instance, is used by sculptors to create sculpted objects.

Source: cyndikaydesign.com

Gemstones are also believed to have healing properties. Crystal healing is an alternative medicine technique that uses gemstones to cure ailments and prevent diseases.

While there is no scientific study that supports its effectiveness, the use of gemstones for medicinal purposes is still popular.

Source: Unsplash

Gemstones are sometimes classified as precious or semi precious gemstones. But this classification method is no longer widely used.

How do I sell gemstones online?

There are multiple options available if you want to sell gemstones online. We’ll get to those options soon. 

But before then, it is important that you answer two questions that will help you narrow down the right choice for you. The questions are:

• How much support do you want during the hiring process?
• How quickly do you need your money?

Depending on your level of experience in the world of gemstones, you can decide whether or not you need an expert to guide you through the selling process.

Connections are crucial when selling gemstones, so having someone on your side who has access to a wide audience of potential buyers could have a significant impact on your ability to find the right buyer.

2. How quickly do you need your money?

Another question you must answer before you decide on a method to sell your gemstones is how long you are willing to wait before you get paid. Some methods might require you to wait a little longer than others.

With your answers to these questions in mind, some of the ways you could sell your gemstones include:

• Sell them privately
• Sell them through dealers and auction houses
• Sell them on sites like Etsy and Ebay

Sell your gemstones privately

To sell your gemstones privately means contacting individual buyers directly rather than going through marketplaces like Ebay.

The biggest advantage private selling brings to the table is it gives you more control over the selling process. You have more negotiating power over prices and can influence the terms and conditions of a sale.

Are you thinking of selling your gemstones privately? These are some of the steps you’d have to undertake.

1. Create a list of potential buyers: Identify people who might be willing to buy your gemstones. For you, these could be individuals who have publicly expressed interest in your stones or people who are known collectors or enthusiasts of your stones.
2. Reach out to potential buyers: Reach out to the people on your list to gauge their interest in purchasing your gemstone. Before you do this though, be sure to have detailed information on the gemstone you are selling. Your buyers will ask you about its type, weight, color, clarity, and any other relevant information.
3. Negotiate terms and complete the sale: Once you have tangible interest from a buyer, negotiate the terms and condition of a sale. This includes payment, payment method, insurance, and shipping. It is better to have a contract handy in case things progress.With terms agreed, you can complete the sale by shipping the gemstones to your buyer before or after receiving payment.

Sell your gemstones through dealers and auction houses

If you do not have a network viable enough to warrant selling your gemstones privately, another option available to you is through auction houses and dealers.

These are third party establishments that specialize in buying and selling gemstone jewelry. You’ll leverage their deep understanding of the market as well as connections with potential buyers.

To sell your gemstones through dealers and auction houses, here are a few steps you might take.

1. Create a list of potential dealers and auction houses: Start by researching establishments that are the right fit for your needs. Some of the things you should look out for include gemstone specialty, reputation, ethics, and pricing.
2. Submit your gemstones for appraisal: Once you have identified a dealer or auction house to work with, send your gemstone over for appraisal. The auction house will look it over and then provide you with an estimated value of your gemstones.
3. Negotiate terms and complete the sale: If you work with an auction house, your gemstones will be included in an upcoming auction. With a dealer however, you can directly discuss terms of your sale. Whichever method you choose, ensure that you are protected by a contract.Once you finish negotiation, complete the sale by transferring ownership to the dealer or auction house and receive payment.

Best Place to sell gemstones online. Sell them on sites like Etsy and Ebay

Ecommerce marketplaces like Etsy and Ebay make it easier for you to reach a huge potential audience as well as provide you with user-friendly tools to manage your online sales.

To sell your gemstones on sites like Etsy and eBay, here are a few steps you can take:

1. Create a seller account: Create a seller account on Ebay or Etsy to get started. Follow the platform's instructions for setting up your account, which will typically involve providing some basic information about yourself and your business.
2. Create a listing: Once you have a seller account, create a listing for each of your gemstones. Be sure to include high-quality photos that accurately depict the stone’s features, as well as detailed information about its type, weight, color, clarity, and any other relevant details. You'll also need to set a price for the gemstone and choose whether to offer shipping or local pickup options.
3. Manage your listings: As potential buyers start to view your listings, manage them by responding to questions, updating the listings with any new information, and monitoring your account for sales. Be sure to keep your listings up-to-date and accurate to maximize your chances of selling your gemstones.
4. Complete the sale: Once you've received an offer from a buyer, you'll need to complete the sale by transferring ownership of the gemstone and receiving payment. Follow the platform's instructions for completing the sale, which will typically involve shipping the gemstone to the buyer and receiving payment through the platform's payment system.

Read more Selling Crafts Online Ultimate Guide: Tips, Tricks, & Inspirations

Sell your gemstones on Shopify

Shopify is a popular eCommerce platform that allows anyone to create and run their online stores. If you’re looking to sell gemstones online but don’t want to go through auction houses or a marketplace like Ebay, Shopify is a great option.

Here are the steps to get started with Shopify.

1. Sign up for a Shopify account: There are different pricing plans available on Shopify, depending on your needs and budget.
2. Set up your store: Shopify offers a range of templates and customization options to help you create a good looking store. You can also use a tool like PageFly to design your theme and optimize your website for sales and conversions.
3. Add your gemstones to your store: Create product descriptions, photos, and pricing information and upload them to your store.
4. Set up payment and shipping options: Shopify offers multiple payment and shipping options to make selling online easy for you. You can choose from a pool of different payment gateways and also set up your shipping based on your location and nature of your products.
5. Promote your store: To start getting customers, you need to invest in marketing and advertising. Shopify offers integration with tools for email marketing, Search Engine Optimization (SEO), Pay-Per-Click Advertising (PPC), and many more.

Read More: Top 12+ Shopify Jewelry Stores For Your Inspiration (+ Analysis)

Risks involved with selling gemstones online

It is important, however, to remember that starting a gemstone business is not a plain sailing venture. There are risks and challenges that you must overcome. Some of them are:

• The gemstone market is highly volatile. Prices can fluctuate due to economic conditions, political events, and changes in supply & demand.
• The market is prone to counterfeit products. Fake gems can be difficult to spot, leading to loss of revenue and reputation for the business owner.
• You also have to work your way around serious supply chain issues. Gemstones are sourced from around the world which can make setting up processes around quality control and shipping difficult.

What do you need to succeed at cutting and selling gemstones?

Like any other online business, selling gemstones successfully requires a combination of knowledge, skills, and resources. Here are some of the essential elements you need to become successful at selling gemstones online.

• High quality inventory
• Effective sales and marketing tactics
• Experience with gemstones

High quality inventory

The gemstone (and jewelry) industry faces a growing problem of fakes. In order to ensure that your customers get the best products, and in turn earn their trust, you will need to source high quality gemstones from respected suppliers.

How do you do this?

Build relationships with suppliers. Or attend gem shows to find new and rare stones that you can sell.

Effective sales and marketing tactics

You won’t make money if you don’t sell the gems you buy and cut. So learning to sell itself is an important skill you must learn when building your online gemstone business.

The sales skills you need depend on the sales channel you plan to use. If you plan to sell privately, then you must learn how to persuade people to get into meetings with you.

 Source: Unsplash

If you plan to use a platform like Shopify, you might need to invest in marketing efforts like SEO, PPC, email marketing, and so on.

Experience with gemstones

Experience is a differentiating factor in the trust-dependent world of gemstones. You need a thorough understanding of each type of gemstone you sell. This is so that you can properly communicate their value to your customers and set a fair price for the stones.

 Source: Pexels

How are gemstones graded?

The value of a gemstone is determined based on a couple of factors–color, clarity, cut, and carat weight. 

If you do not have experience appraising gemstones, it is best to leave this task to experts. There are professional organizations that specialize in grading and certifying gemstones.

But for the purpose of this article, here’s a high level view of what’s considered during gemstone grading.

Clarity

Clarity refers to the presence of internal flaws or blemishes on a gemstone. Rough gemstones might have more blemishes. The fewer the presence of flaws and blemishes, the higher the clarity grade of your stone.

Source: Unsplash

Color

High value stones are generally those with pure vivid colors. Colored gemstones are generally more valuable than uncolored ones. And the type of color varies depending on the origin of your stone.

Cut

The intricacy of a stone’s cut is a testament to how well it is polished. A well-cut stone reflects light in a way that showcases its high points. Generally, stones with intricate cuts have higher grades than stones with less intricate cuts.

 Source: Unsplash

Carat weight

Carat is the unit of weight for gemstones. If all other grading factors are equal, stones with high carat are generally more valuable than stones with less.

Gemstones that have been graded and certified by professional organizations are often regarded as more valuable and desirable than uncertified ones. So it definitely won’t hurt to get your stones graded by these organizations. Some of the well known organizations for grading gemstones include: Gemological Institute of America, International Gemological Institute, and Swiss Gemological Institute.

How much is your gemstone jewelry worth?

It’s almost impossible to determine the value your gemstone will command without an appraisal. But the list below will show you the standard price for several high quality gemstones around the world.

Note that high quality gemstones, in this instance, refer to stones that are vibrant in color and have no blemishes visible to the naked eye.

Can you sell valuable gemstones again?

Yes, certain gemstones do have resale value. If the resale value of a gemstone is important to you, there are certain factors that you should take into account.

1. Rarity: Gemstones that are difficult to find and collect hold more resale value than stones that are more readily available.
2. Quality: As expected, stones of higher grade quality will have more resale value than stones of lesser grade quality.
3. Demand: Also, the demand for a certain gemstone can increase its resale value. If a stone becomes more popular, say due to a fashion trend, you can expect its resale value to skyrocket as a result.
4. Historical significance: Stones that have history around them, maybe due to ownership by royalty, may have a higher resale value due to their historical significance.

Examples of Shopify stores that sell gemstone-related products

The Crystal Healing Shop

Visit website thecrystalhealingshop.com

Enclave Gems

Visit website enclavegems.com

Sage Crystals

Visit website sagecrystals.com

Conclusion

Selling gemstones online can be a very lucrative business for anyone who understands the market and value of selling gemstones.

To succeed in this business, you need to have a good understanding of gemstone grading, certification, and market value.

Do you have precious or semiprecious stones? How clear are your colored stones?

It is also important that you choose the right platform to showcase your products. Shopify is a great option if you want to create your own online store.

With Shopify, you can customize your website, manage your inventory, and promote your products then sell gemstones to online buyers.