Loose gemstones

[Spinoza]

I know some people collect loose gemstones as an investment but who buys them when you decide to sell? I hear jewelry stores will only offer a fraction of what you paid originally and many don’t buy individual stones unless they are diamonds, rubies or other precious gems; Semi-precious stones aren’t desired by jewelers unless there’s a large enough quantity for sale.

So what if you only have a few loose pieces of tanzanite or similar stones to sell? Can you make money on them easily and quickly? Or is it tough to find buyers who will buy just a few stones and offer you enough so you make a profit?

(Appraisals don’t mean much. They’re always inflated so insurance companies can charge you a lot to insure them. But when insurance companies pay out claims, they only offer the going rate/prices in your area which can be thousand$ below an appraisal.)

[Rolltide]

I

[Spinoza]

Thanks, Rolltide! I agree with everything you said. Maybe people collect loose gemstones just for their own enjoyment, not really as an investment.

[MaeWest1953]

@FarmMom

If I am not mistaken hasn't this question by Spinoza already been posted?
I remember reading the discussion regarding appraisals and asking about where to sell stones and if there is real money to be made

I think you and others commented on this subject....

[Spinoza]

Oooh, if there’s an existing thread I’d love to read it!

I did a search on the topic before I posted but it turned up zero results. Maybe I didn’t use the right keyword(s)… ?

Thanks in advance, Mae! I look forward to reading the posts!

[FarmMom]

@MaeWest1953

I believe the most recent mention was the AAA Tanzanite thread that was just deleted (also possibly why it was taken down).

@Spinoza
As others mentioned, you cannot sell to local jewelers. They won't take it. They don't know it's not treated, mistreated, fabricated, etc, and most don't have time to sit and study every gem that heads their direction. Even my local jeweler I walked in and asked if he'd like another reputable source for gemstones (my overseas guys are always asking if I know anyone else who would like to do business... I think the gem industry is hurting right now with the recession), he laughed at me and said he only buys from one guy, and now he's going to retire soon anyway.

You could try selling on either of the two E sites, but it could be a needle in a haystack.

There are exceptions . . .

Gems are a type of "mineral specimen", and there are LOTS of people who buy and sell them (minerals though a bit harder to fake, so easier tp re sell). If you become a well known gemologist and write books and articles on the subject, and have a vast collection of fine specimens, THEN your entire collection could be auctioned off and get a decent amount for it (in theory). I have seen it done with minerals...

I saw a post on another forum about a guy who went to an estate sale and bought an "opalite" pin from the 1800's. He took it home and realized maybe it wasn't opalite. It ended up being actual moonstone from Sri Lanka, and at 30cts in perfect condition it was worth at least $50,000, perhaps the largest one ever found. Now THAT could be auctioned off I would think because the mines closed long ago, but again, there are not too many big auction houses that do gems, so who would know it was for sale? You'd have to hit a gem show maybe..

It's not easy to re-sell, bottom line. But you can buy them as displays, just like the mineral people do, and no shame in that if it's just for fun.

[Spinoza]

Thanks, FarmMom!

I was curious because SLC sells so many loose stones, encouraging people to buy them as “investments”.

I personally don’t own any because I suspected those “investments” might be difficult to sell/make a profit on.

But I suppose some people buy them to use in a customized setting they plan to keep for themselves, not as an investment to resell.

[MaeWest1953]

Good morning FarmMom...

Thanks for letting me know I was correct in remembering a post about Spinoza's questions etc.
You are such an excellent resource of information as your experience is phenomenal

[Rolltide]

[colljoe]

@Rolltide
I don't know why, but you crack me up!