TikTok Shop’s live auctions allow independent sellers to offer jewellery, vintage clothing, coins, trading cards, and gemstones, including diamonds, moissanite, sapphires, rubies, and topaz.
Most diamonds are lab-created and typically cost between $USD100 ($AUD139) and $USD500 ($AUD697), depending on quality and size.
The format encourages impulse buying, as buyers may secure diamonds at unexpectedly low prices. The fast-paced environment is described as offering instant gratification, making purchases quick and further encouraging impulsive decisions.
Ryan Roth, a frequent user, purchased a lab-created diamond for $USD700 ($AUD976) after accidentally bidding during a live auction, then bought another while scrolling in an Uber.
“This isn’t actual gambling, as much as it does feel like it, because you’re getting something in return,” he said.
Sellers create urgency with countdowns, live bidding, and energetic presentations. Some highlight a stone’s specifications and retail value, while others use a more informal, personal approach. Another buyer, Tiffany, bought about 50 diamonds, along with other gemstones, within a month, allocating $USD100 ($AUD140) per week to the hobby.
“It’s fun, and it gets your adrenaline pumping because you feel like you’re gambling,” she said.
“I feel like Thanos from the Avengers movie – I have all these little gems.”
This format also raises concerns about turning high-value purchases into entertainment, particularly for younger consumers who may lack financial discipline.
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