Gems TV is a British reverse auction jewellery shopping channel, officially the first reverse auction in the UK. The channel is available on Sky, Virgin Media, Freesat, Freeview and online. The channel operations are based at Eagle Road Studios in Redditch, near Birmingham. As of 2013, the channel broadcasts live 24 hours a day.
Gems TV first launched at 4pm on 8 October 2004, after the channel was formed by the five founders of Eagle Road Studios and Thaigems. The channel replaced Factory Outlet on Sky channel 663. The reverse auction format for the channel was based around Eagle Road Studios now defunct sister channel, ‘Snatch It!’.
The channel was an independent company until the merger of Eagle Road Studios and Thaigem, which formed ‘Gems TV UK Limited’; the original founders left the company and in 2008 floated on the Singapore Stock Exchange and become a corporate company; Gems TV Holdings Limited.
The channel’s original purpose was to sell affordable gemstone jewellery manufactured by its production facilities in Chanthaburi, Thailand. To reduce costs the parent company later reduced its own manufacturing and bought in jewellery from other suppliers.
On 1 February 2010, the manufacturing operations at the company’s factory in Chanthaburi, Thailand were closed down to reduce costs and increase profit margins. This caused many employees to be made redundant.