Online loose gemstone seller

Independent jewellers and jewellery makers, hobbyists, collectors and people having a custom ring or pendant made.

You sell each stone for more than you paid, with the price set by quality, size, rarity and demand. Selling to makers who reorder often builds steadier income than one-off buyers.

• Knowing gemstone types, grades and treatments
• Clear product photography and honest descriptions
• Careful record keeping and customer service

• Disclose treatments and whether a stone is natural or lab-grown; wrong descriptions can lead to refunds and legal trouble
• Check whether FINTRAC rules for dealers in precious stones apply to you, especially for large transactions
• Check GST/HST, provincial sales tax and import duties on stones you bring in from abroad
• Rough diamonds have special import and export rules, so check with the Canada Border Services Agency and Natural Resources Canada first
• Stock ties up cash and prices can swing, so start small and insure shipments
• Check whether your municipality requires a home-based business licence, and consider commercial general liability and stock insurance

Startup costs are typically estimated at around $1,500 to $7,500, depending on how much stock you buy, your photography setup and your website or marketplace fees. Starting small helps, since stock ties up cash and prices can swing.

Monthly revenue is typically estimated at around $800 to $4,000, depending on your range, pricing and how many buyers you reach. That is revenue before the cost of stones, shipping insurance and fees.

Check how to disclose treatments and natural or lab-grown status, whether FINTRAC rules for dealers in precious stones apply, and GST/HST, provincial sales tax and import duties on imported stones. Rough diamonds have special rules, so check with the CBSA and Natural Resources Canada first.