Gems TV was an American reverse auction jewelry shopping channel.

On April 7, 2010, Gems TV USA filed for Chapter 11 bankruptcy, blaming the Great Recession.

The website and customer service team continued operating until May 6, 2010.

The new strategic decision to fully outsource its gemstone jewelry supply was aimed at reducing operating costs, increasing supply, improving manufacturing flexibility and the main reason of increasing profit margins.

This was one of the principles the company was originally well known for - Going direct to the mines and handcrafting gem set jewelry in their own in-house facilities.