Gold Parties: sell your bling to pay bills
Apparently gold is the new Tupperware. Someone alert Phranc! I saw this segment on CNN the other day and then a quick Google search wowed me:
A twist on Tupperware and Mary Kay parties, gold parties bring together friends, neighbors and co-workers who are looking to cash in on the rising price of gold, but aren’t comfortable with the idea of a pawnshop. An average party of about a dozen guests will bring in between $3,000 and $5,000, according to fastcashgoldparties.com, a Florida-based gold party organizer. Plus, the hostess gets to pocket up to ten percent of the earnings.
As cheesy as it sounds, I like the concept’¦ ‘œinstead of spending money, you get to leave with some.’ With gold hovering at around $1,000 an ounce, it sounds like an easy way to turn unwanted jewelry into cash. I know that Jeanine has several pieces she could unload from a crazy, but overly generous ex-girlfriend.
At a minimum, it seems like a better way than using the Cash4Gold service (anyone recall the Super Bowl commercial starring Ed McMahon and MC Hammer?) to unload your gold. What do you think?
Photo credit: stock.xchng.
This is really interesting, but I can’t imagine that it’s nationwide?
I think gold looks tacky, so I don’t have any gold jewelry. But yeah . . . as far as “investments” go, I guess this is a pretty good option.
Liz: It’s somewhat regional depending on your location, but MyGoldParty definitely has reps covering southern California. You’re in luck!
Serena: You got me thinking – I wonder if all youngsters like you feel this way about gold jewelry… and if gold parties will only appeal to a Gen X-er like me with a charm bracelet, thin chains and class rings that I haven’t worn in years.
I had a ton of dental work done, and my dentist gave me little postage-paid envelopes to send in my used crowns’ gold. I only made $25 but it was something!
I would think my mom’s peers would like a home party setting and have such jewelry collected over the years, but I just don’t wear or own the stuff.
Frankly I’d rather have more dental work than go to a home party of any sort.
It gets a bit confusing when one place offers you pennyweight and another ounces. How can you tell if you are getting ripped off??
Charlie:
Pennyweights and ounces are different amounts, but there are standards (“Legal for Trade,” etc.) that help consumers know that they’re not getting ripped off. Definately check to make sure that sellers have a good reputation and are authorized distributors of scales or testers; usually there will be a manufacturer’s warranty. I actually work for a company (iGem Instruments) that sells instruments for testing gold or gemstones, and our company made an article on how to choose your jewelry scale.
http://hosted.verticalresponse.com/223878/4aedf1a120/
We actually sell “Gold Party Kits” too, if anyone is interested in simply hosting a party his/herself. I hope that this information can help you out!
Interesting. I have been hearing more and more about gold parties, and I just recently found out that it has reached the UK. People are going crazy about this gold thing. But the site helped me to understand better what a gold party is, and if I ever wanted to participate. Maybe it can help you too. Check out this page gold parties.
Gold parties can be great fun, but do your research first! I used a company and went direct. It was awesome and I used the cash to pay for a holiday to Turkey.