Gemstones, including rubies, emeralds, and sapphires, can be sold for cash, much the same as diamonds and other jewelry. However, more often than not, those stones have very little resale value ...

Since then, the Colombian emerald market has been on the rise; a 25-carat Colombian emerald ring by Boghossian sold by Christie's Asia last month went for $1.7-million (U.S.).