Tip 1: Everything in a jewelry store is negotiable. Big or little purchases, depending on the size of the purchase, you could save between 15-50% just by negotiating. This applies to large chain stores and mom and pop locations. Tip 2: Always research and don't buy on the spot.

Sell to jeweler, pawn, or gold store The easy way to get immediate payment, typically a similar amount to an online reseller. In most cases you'll receive the value of the metal and stones - sometimes a bit more. Small, scratched stones have little value.

Find out how long the jeweler has been in business, if she/he belongs to any professional associations, and if they are a member of the GIA Alumni Association. Once you have selected your gem or piece of jewelry, it is a good idea to get an independent laboratory report on your stone.