In follow up questions, people wondered about how buying/selling/trading of items will work with regard to their upgrade slots.

When you are trading, or gifting or using the Consignment Shoppe, you can see what gems are in the item from the icon.

Further, you can inspect the item to view an expanded view of the items stats that displays what gems are socketed into the item.

Here are example screens from the Consignment Shoppe where I have listed an Entombed Hammer of Warfare that has one Blood Gem socketed into it for a +3 STR bonus.

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Here is the Hammer inspected:

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