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How do I Host a Gold Party?

Article Details
  • Written By: Josie Myers
  • Edited By: Bronwyn Harris
  • Last Modified Date: 04 April 2018
  • Copyright Protected:
    2003-2018
    Conjecture Corporation
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Gold parties are one of the newest home party businesses. Instead of selling various home and beauty products, gold party sales representatives give cash to their attendees in exchange for their old gold jewelry and items. Representatives to consult at a home party can be found on a variety of websites that offer gold parties.

When searching for a representative, it is important to be sure that the company they are with is reputable. Since guests will be selling gold items, it is essential that the company will give them a fair price for their items. Check websites that offer reviews of companies and look for those with major press coverage as these will most likely have been checked out by the news media before promoting them.

Once a reputable representative has been located, they will help to set a date for a gold party based on coordinating schedules. Guests are invited by e-mail or paper invitations. Sometimes representatives handle the invitations based on a list provided by the hostess, while other times guests do that part of the planning.

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On the day of the gold party, hosts generally provide light refreshments such as snacks and drinks. Guests bring unwanted pieces of gold jewelry or other items. The gold party representative tests and weighs the items and gives the guest cash based on the weight and karat of the items and the price of gold on that given day. The host receives a cash payment based on a percentage of sales at that party.

A gold party has also become a popular fundraiser. Churches and schools ask community members to bring gold items in on the day of the event and get the same cash payment that a home party hostess would receive. Many find this type of fundraiser appealing since guests do not have to purchase anything for the organization to benefit.

After the event, the representative takes the jewelry home. It is usually sent to a distribution center where it is melted down into gold blocks. The gold blocks are then sold for a profit.

There have been some critics of the gold party who claim guests are not paid as much money as they could be if they sold the gold on their own or through a direct jewelry center. To avoid being cheated, it is recommended to do some research before going to or hosting a party.

Know the karat and weight of jewelry before bringing it to the representative. Do not allow different karats of jewelry to be measured together, since higher karats are more valuable. Also be sure to be paid on the weight measured and not on a different one. Some non-reputable companies will measure on a pennyweight and pay on the gram, a practice that can cheat the customer out of money. Also be aware of the market price for gold before going.

As with any sale, customers should keep informed and alert before and during transactions. If the company is reputable and the representative is being fair with values, a gold party can be a profitable and fun event for everyone involved.

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