Advice - Large Quantity of Lose, Cut Stones

[Jfkayne]

Hello everyone,

First time post. I could really use some advice. I inherited a large amount of lose, cut gem stones of various types and sizes. Types include some small amounts of precious stones (emeralds and rubies) and semi-precious (Tourmaline, Aqua, Citrines, Amethyst, Peridot, Garnets etc....). I have 000's of carats of these stones. I inherited all of them from my grandfather who was a stone cutter in NYC for his whole life. The truth is that I have no idea what to do with all of them. I would like to liquidate but I am finding that cut semi-precious gem stones are not the easiest thing to sell. I do not necessarily need the money but it seems silly to have all of these stones sitting around doing nothing. I am also paying for the safety deposit box to hold all of them.

I went to a well known auction house in NYC and they were able to sell some of the lots but they were not able to get a "good" price in my opinion. I was hoping someone here could offer some advice as to the best route to take to liquidate. I am in no rush so I am seeking the route that will maximize the value of the stones. I was thinking about selling them on eBay but I am concerned about the risks.

Any advice you guys could offer would be greatly appreciated.

Best,

Jon

 

[normanintheskywithsapphires]

Contact Ed at www.wildfishgems.com. I think he offers consignment-deals for larger private collections.

 

[digdeep]

You could try Loupe Troop for direct to consumer (rather than a middle man)..........if the cutting is decent then people may be interested for jewelry projects, side stones, etc. Also, you could potentially pair the gems and sell them in smaller quantities......which may increase your profit. https://loupetroop.com/

 

[minousbijoux]

A number of folks sell through groups on Facebook as well.

 

[Jfkayne]

Thanks for the advice everyone. I will definitely take a look at Loupe Troop and wildfishgems. My concern is if I sell them through a site (no consignment) with no feedback or transaction history, will anyone buy them? My grandfather always used to warn me about the jewelry business and how it is not always honest. Even if I did sell them, I would be worried about having them returned with synthetics. Does that happen much or am I over thinking this? Would you trust buying from a seller without an established business? If so what would you need?

Also what is the best reference for someone to use for the current market value of the stones? I.E. price per carat for Aqua? I know there are many factors that go into the price but I have no idea where to start as some stones are smaller than a ct and other are in the 10's of ct.

Really appreciate the help!

Jon

 

[normanintheskywithsapphires]

Everybody here says it terribly difficult to sell gems privately. And they are people who know. I would not even try to save me from the downer. Nevertheless, I buy my gems with an eye on future value, but with 'future' meaning several generations not quick buy and sell.

 

[digdeep]

I'm not sure what the last comment has to do with the question posted in this thread? The OP is talking about liquidating gems he inherited, not gems he purchased at retail as an investment.........which IS something most agree is a poor bet. If you can check on Facebook for the groups mentioned above, check out Loupe troop or even reach out to some lapidaries or individual designers in the event they may be interested-- often they are selling small sets of gems too. Also, I'm not sure if you can participate in some of the larger gem shows to sell your goods? It would still require knowledge of what you are selling so it can be sold appropriately. It's a unique situation and you likely won't get retail prices unless you have one of the rarer spotlight gems such as Paraiba tourmaline, or very well cut untreated stones...........I do wish you the best. It seems like there could be some interesting gems amongst your possessions, but your money goals would need to be realistic too.

 

[Debbie K]

If I were you, the first thing I would do would be educate myself about gemstones. I'm not saying become a graduate gemologist, but a course from GIA for $150.00 or so in colored stones would probably help you quite a bit. I would also invest in a refractometer, a loupe, a polariscope and a chelsea filter. You will also need an accurate scale that weighs out to .000 cts.

Once you get a little bit of a comfort level about what you have, I would think about searching out gem and jewelry shows in your area. Try the gem and mineral societies; their booths are cheaper than the jewelry trade shows. The other place to try is local jewelers or colleges that offer jewelry classes.

Also, since you don't know much about gemstones, make sure that you specify that you don't know what if any treatments the stones may have. Put it in writing as part of the receipt as you sell them. CYA.

In regard to pricing, the best way to guess is go on Ebay and check the high and low prices for something that looks similar to what you have. Get the average of the two extremes and be prepared to get less than that. Yes, there are publications that tell what the average values are for gemstones based on their clarity, color, cut and carat weight, but they're pay services and you have to be a member of their association.

There are a few books that would help you; Gemstones of the World https://www.amazon.com/Gemstones-Wo...=8-2&keywords=gemstones+of+the+world+schumann, Guide to Affordable Gemology https://www.amazon.com/Guide-Afford...505866873&sr=1-1&keywords=affordable+gemology ,Gem ID made Easy https://www.amazon.com/Gem-Identifi...66755&sr=1-2&keywords=gemstone+identification
https://www.amazon.com/Gem-Identifi...66755&sr=1-2&keywords=gemstone+identification
If you want to get the most for your stones without being taken advantage of, you will have to educate yourself. Either that, or make really good friends with a gemologist who will help you out with all these gems. Wish I were nearby, I love ID'ing and messing around with gemstones.

Oh, and be on the lookout for unusual stones. Sometimes one will be worth the rest of them put together. Out of curiosity, did this inheritance include any rough stones?

Debbie K

 

[Arkteia]

I am probably not the person to give advices, but I have noticed that here on Preloved section, people sometimes put out "feelers" for selling and buying.