Colloidal β-In2S3 quantum dots stabilized in water by a number of polymers or sodium polyphosphate and mercaptoacetate were synthesized. An increase in the stabilizer content was found to result in a decrease in the average dot size from 20–30 to 5–10 nm and formation of a narrow absorption band centered at 290 nm. The position and spectral width of the band were found to be independent on stabilizer concentration, synthesis temperature and molar In:S ratio. The band was assumed to belong to a molecular cluster smaller than 1 nm which is a precursor for formation of larger regular indium sulfide quantum dots.