How to organise gold parties.

Gold Parties. This is a great way to add some extra money to the family coffers at this time when the credit crunch is biting, or maybe you want to raise some extra shoe shopping money! If you have gold items lying around in the back of your dressing table drawers, at the bottom of your jewellery box or simply packed away in the attic then gather it up and make some money! Maybe you have jewellery from your exes, unwanted presents or some of those misguided purchases from your younger years, however you got your unwanted gold you can think about cashing it all in at a gold party. If you are wondering how to organise gold parties then hopefully the information here may help remove some of the mystery, and highlight some of the concerns regarding this way of selling.

Gold parties are very popular in America. Recently,companies in the UK have started promoting the concept of holding a gold party.

Think of it as Tupperware party, only sell instead of buying. A party host will invite their friends and neighbours around to their home, asking them to bring along any old, broken and unwanted items of jewellery for valuation. Also there will be a jewellery dealer who tests and values each item. If you’re happy with the price offered, you’re paid on-the-spot for your gold. The host will be paid a commission, just as they would at a tupperware party.


Gold parties becoming popular across the country for one reason: where gold was £180 an ounce ten years ago, it's now approximately £610 an ounce -The price of all precious metals is fixed in U.S. dollars twice a day, then converted into pounds.


So, yes, the gold parties are fun and a great excuse to enjoy a few glasses of wine and socialize with your girlfriends -- but you need to consider a few things or you may get ripped off.

The main problem with these parties is that you may or may not get fair value for your gold. Usually, people are so keen to sell that they think whatever money they get is fantastic. To avoid this, seller beware, and do your home work. Go to some gold buying jewellery shops before you go to a gold party, have your gold valued. Write down the prices you got offered from the jewelry shop, and then if you get more at the gold party sell sell sell.

It is also important to choose a reputable company to attend your party. These parties are popular in America and dishonest dealers have been prosecuted for using scales and even calculators that have been tampered with. Of course there is always a chance of falling prey to disreputable practices wherever you go to sell your gold, but whilst having fun in your friend's home you may be less likely to sense a problem or spot a scam. So keep your wits about you and ensure the dealer is from a well known company that you trust.

It is also wise to think about what you are selling. If the item contains precious stones their value may not be considered, you could have them removed prior to the event and sell them separately or reuse them in a new piece.

The American experience also warns against cheque payments. There have been instances of cheques not clearing and people never receiving the money for their gold. The easiest way to avoid this is clearly to ensure you get the lovely cash in your hands before you part with your unwanted gold at the gold party.

Now that frugal is more fashionable you may not feel comfortable inviting your friends to spend money at parties so asking them to bring along unwanted loot and walk away with cash is a great idea, the essence of gold parties, and you make some extra pennies too! Have fun but remember the possible problems with gold parties, protect yourself and get searching for your unwanted gold.