Pawning Paradise
By Daisy Chan

(FORTUNE Small Business) – By filling the space between seedy pawnshops and snooty auction houses, SellJewelry is striking gold. Customers mail their unwanted baubles to the company's Chicago or New York locations or drop them off at one of 30 participating retailers across the country. On acceptance of an appraisal, SellJewelry delivers a check without deducting a commission and then makes its money reselling to collectors. CEO Chris Del Gatto says that the company's $1-million-a-year advertising budget, hassle-free buying process, and higher appraisals has helped lure consumers away from its competitors online and off. The result: Annual revenues are expected to top $20 million in 2004, up from $10 million the year prior. But with an aggressive growth strategy—four new locations by year-end and a plan to go public in 24 months—SellJewelry's continued luster will rely on a hefty supply of unneeded jewels and finding enough expert appraisers to price it all. —DAISY CHAN