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January 14, 2009

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Whoa, what a crazy idea! I've never even heard of those before.

Also, couldn't that be somewhat socially awkward (morseso than a tupperware party even)? Or are all the transactions done in private?

You must always be careful with Gold. People think if "the great end" of the financial system comes gold will save them.

The smartest people diversify what they invest in so that they have a wide net and opportunity to overcome obsticles. You should do this, too.

Everything in moderation.

And always seek and research where to invest your money. Ask tough questions.

Good luck.

Loyd Ford

I think these are a scam. You will never get what you want for your gold. You would be better served selling it on Craig's List. The same goes for coins. I have never done this and will never do it. I would say "caveat emptor", but you are the seller, not the buyer. Still, the principle is the same: beware.

I have been to one of these parties. I live in a community in FLA ($200k-$450k homes, near a golf course). A couple down the street invited us to a 'jewelry party' where they said bring anything (gold) and exchange it for cash. My wife went early, and when I got there, the 'jewelry' people (a man and a woman) pounced on me when I got in the door, making me feel awkward. They set up a display of different jewelry, mostly gold, and took orders for jewelry. They certainly made themselves look legit. Later, I found that the couple (the hosts) did get a commission, but they didn't feel bad or awkward about it because they told everyone it was a jewelry party. I didn't order anything, nor did my wife, but a bunch of people did exchange gold for cash on the spot. I'm not sure what kind of deals they got or if they were scammed; I was more interested in getting another glass of house wine poured for me.

I haven't been to a party but I did recently round up some old broken gold bracelets, earrings, etc. and sent it to an online dealer. It was a small amount of stuff that I wasn't too worried about losing. It was fast and easy. I got the name from the WSJ MarketWatch newsletter.

I sent it last Friday. Monday receipt was confirmed. Tuesday I accepted their offer (which I could have declined) and I'm waiting for the check and the unused items. I could have opted for an immediate wire transfer for a fee or used Paypal for a fee.

Never heard of it before, is it legal?

I'd go to one of these and scam the scammers. Hint... some lead fishing weights reshaped and coated with gold foil / quality gold paint should do the trick.

Sounds fishy... look around. If you can't find the fool in the room then it's probably you!!! Yikes.

-Mike H.

I seriously doubt you fooled someone with fishing weights. then again, I'm not expecting this to be conducted by Mensa members.

A friend of mine hosted one of these parties, and they are nothing special. You get a very small percentage of the value for your gold. If you have a bunch of really nasty tacky gold jewelry that no one in their right mind would buy, then this is the party for you. Enjoy the five dollar footlong with your riches.

It is a "do your homework deal". I own one of these home gold party companies and we are licensed and completely legit.
We did a lot of research before opening this business and made sure that our payouts would beat any local jewelry store and pawn shop. Just "seller" beware in this case. All weighing should be done in front of the customer. It should be done in grams and NOT pennyweight and the purchase price is calculated on the "spot" price of gold that day (or the last trading day if it is the weekend)
It can be a real blessing to someone to have a safe outlet to sell their scrap and unworn gold.

People who would sell jewelry in this manner are very naive and ignorant...the people who buy in this manner are sleeze to the highest degree. Thirty minutes research on how to value a piece of jewely on Google will enable a person to sell the items on ebay at a fair recompense. Never juice the the sleeze. Weigh the item, determine the percentage of precious metal, check the price of the moment and sell at a slight discount....it works.

Others are naive and ignorant to think anyone on Ebay would pay you for your scrap jewelry. If someone has a bunch of broken chains, old ugly gramma jewelry that nobody will ever wear and they don't want to sit in front of a computer itemizing each piece and answering email questions all day, then why not sell it to someone who will buy it for cash right then and there? Some people are not happy with the fact that others make a profit off of them. Welcome to America, land of capitalism. Don't like others making money, find a Communist country and move there.

My wife and myself have been to one of these party's held by the owner's wife of our company. It was very legitimate as the "Gold Hosts" offered my wife twice as much as a local jewlery store in town had. I think like anything you have to be aware of the legitimacy of who is doing the party. Unfortunately there are people out there that will find a way to scam and ruin just about anything anymore.

My mom went to a gold party yesterday and took a bunch of old broken chains and things she would never wear again. I also gave her a few things and my boyfriend gave her a ring. I got $190 for my stuff, my boyfriend got $50 and my mom got about $650 for her things. I think I might have been able to get a better deal, but my mom and boyfriend were very happy. Regardless, I think the $190 for stuff I would never wear again is great!

A good, legit home party company will weigh your gold right in front of you, seperate it by karat and price it based on the price of gold for that day. Yes, the company is making money ~ that is the nature of any business... but there is never any pressure to sell your gold if you don't like the quote. Take the quote and then go to a jewler, pawn shop or even cash4gold and take the best price. It's a no pressure, fun way to sell any UNWANTED gold. If it's a heirloom piece from generations past, I'd pursue a different avenue to sell if that's what you want to do. But scrap gold, stuff you're never going to wear again, it's great! If your skeptical, do your homework and don't bash a legit company.

Please READ, it's sad to hear that some people call the gold parties a scam. It's not true and I believe that it's "worth your while" to sell unwanted gold thru this medium. It's hassle free, and I really made a little "fortune" on the little amount of gold I had to sell!

I had a representative I could trust, so maybe that is the fear? Just do your research and throw a gold party - make some money! Have fun!

***And no I don't work for any of these vendors...I just didn't think it was fair for the negative comments to get all the share of the spotlight!

I think selling your old BROKEN jewelry is a great idea! I am planning on doing a gold party and I love the idea. Getting cash for old jewelry is a great opportunity for some people, who are in a bind and need cash. In this economy any option like scrap gold is great! I am sure some people are traveling around RIPPING people off but there will always be dishonest, sleezy people whether it be scrap gold, insurance, salesmen.. I definitely agree with doing a little research on gold before going to a gold party to get an idea, but remember your obviously wanting to sell your stuff for a reason. It is OLD or BROKEN or just collecting dust. It cost money and time to put things on EBAY with no guarantee it will even sale, so for those who have neither selling scrap is an excellent idea.

Gold parties can be a legitimate way to get good money for your gold. Make sure the company belongs to the Better Business Bureau and is A+ rated. Make sure the company is licensed in your area (Most aren't) and that they have permission from the State to hold the party (required in states like Ohio, Maryland, VA, DC, etc. Sending notice to the police the day before won't cut it.
Beware of buyers who pay in cash. It is easy for someone who knows the party is going on to wait outside and rob the guests.
Make sure the testers are well trained--otherwise they will tell you something isn't gold, when it is, because they don't know for sure and don't want to get in trouble with the boss. Never give a buyer anything they say is not gold--they may be lying and are just getting the piece free. Take all that they reject home and try another gold buyer with it later. I don't know how you get "appraisals" before you go to the party. You can go to other gold buyers and ask what they would give you. Don't sell it to them, but go to the party and see if they are comparable. Some gold party companies pay up to 15% of what they buy, and give you 5% of any party you refer, so you can keep on earning.

What's the difference between gold parties and buying jewelry at a jewelry store at the mall? Places like Kays, Danielles, Zales, etc sell their gold so high and rip you with 20% financing and lie to you telling you the piece is priceless etc. You the buyer think you have a high value piece you paid hundreds of dollars for and weighs maybe 5 grams. The real scammers are the Jewelry store!

My wife and I went to a "Party of Gold" party, and brought a bunch of old necklaces, my old school ring, some earnings, etc. We decided we would jsut get a "quote" and then bring it to a jewelery shop to compare.

So the gold buyer at the party wieghed it right in front of us, looekd at it rhough a little scope thing, poured some liquid on it, and tested it with (I think) a magnet. We ended up being quoted like $800 and change. That was WAY mroe than we expected, so we thought we should get it compared at our local jeweler. So we brought it, and were quoted about $550. Obviously, we didn't sell it, but now we have no way of selling it to the other person (at the party), because we don't know of any more parties like this. So, hopefully we'll get invited to another one.

I noticed that last post was almost a year ago. Gold parties are still going strong. Friends helping friends. Yes, everyone walks out with cash, yes the host gets a commission, and yes the gold tester get a commission too. the rest goes to a refinery that has the equipment to separate the gold, silver and copper that make up the gold. we weigh by the gram and I have not found a jeweler or another gold company that pays better than we do. We are trained to test and ensure that we are accurate in valuing the clients gold so they get the max payout. It is rewarding to provide for so many an opportunity to cash in on broken chains, mismatched earrings, wedding band from a marriage gone bad, even grand ma's silver service and then to have them say oh now I can buy this for my kids, husband ..... you get the point. the choice to part with the gold is always the customers, especially when there may be just a hint of sentimental attachment. I always advise them to hold on to it. There will be other parties. If you are interested in how to make an income part time, respond to this post and I will get back in touch. we operate throughout the US

George, would like some info on your parties....

George, I would also like info. I'm looking into a couple of companies now and I really want to be part of a legit and honest company

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