I have inherited some faceted gemstones and would like advice. The gemstones are in parcel packets and marked with specifications (size, shape) and with date of purchase. The person I inherited them from sold gems back in the '80s & '90s and bought these from reputable places, but his purchase invoices couldn’t be found. I was told by a jewelry shop owner that I would need these certified before selling, but this seems cost prohibitive.
Do I need to get them certified before selling? What would be a strategy for doing so if this is the case? Thank you
I guess it would depend on whom you are trying to sell it to. A certified gemologist should be able to tell you what they are. Our jeweler at our store will tell you want they are and then make an offer if she is interested in buying them. I would maybe find a mom and pop shop?
I too have quite a few stones that need certifying and the rule of thumb for me is. If a certified stone of the same type and size is valued at 2 & 1/2 times what I gave for it, then to me it is well worth the cost of having it certified and appraised. IE. I have a Burma ruby that uncertified it is just a nice ruby worth aprox. $300. But once certified that it is indeed a Burma ruby, that same stone is worth $1250.00. What I do is take 1/2 of the amount I sell a stone for and have a few more certified. That way the cost of having them certified and appraised, is not as painful.
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Don’t confuse identification with certification. I suggest you first find a gemologist who can identify your stones, then begin searching the internet and other sources to get an idea of what they might be worth. Only then can you decide if it is worth the trouble and cost of having them certified. It’s simply not true that to sell stones you must first have them certified.
A laboratory repot (certificate) isn’t necessary to sell a gemstone. However you do need to be sure for the following things:
- What kind of gemstone it is
- is it natural, synthetic or a manufactured product (manufactured products can start out as a natural gemstone but then have so much glass filler in it that it is no longer considered natural. On the other hand it may also be a composite gemstone… a sliver of natural gemstone glued to glass for example.)
- How much it is worth. Many small laboratories may give you a value that is not the fair market value of the gemstone but it’s insurance value which may be as much as three times the selling price of the gemstone.
There are not very many places where you can accurately find the wholesale value for gemstones. (Wholesale is what jewelers are willing to pay for a gemstone. No one in their right mind will buy a gemstone at retail value and then make jewelry with it as the price of that piece of jewelry will not be affordable.
When you go to a laboratory, many of them will be willing to give you a verbal report for much less than the written one. This may be a better option for you. You may wish to sell your gemstone at an auction site when you know what it is and what it’s worth. However, you will have to pay for the auction fees. This may be an easier way to sell each lot instead of trying to sell individual gemstones. If you do sell at an auction, make sure you have a reserve price set.
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