Things You'll Need:
- Telephone
- Internet Connection
- Pocket Calculator
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Step 1
Ask the host up-front how much they will be paying per ounce for your old gold before going to the party. Once you are at the party asking questions or refusing to sell may be socially difficult. Get a price up-front that is based on a percentage of the spot price for 24 karat gold. What you need is something along the lines of "We're paying 80% of today's spot price for 24 karat gold." It may be very difficult to get your host to give you this information before-hand, but stick to your guns--or simply pass on the party.
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Step 2
Compare how much you can get for your gold at the gold party with how much you can get locally at a pawn shop, coin shop, or gold bullion dealer or how much you can get from one of the many internet buyers of gold. Ask your local gold buyers or Internet buyer what percentage of the price of spot gold they are paying. In this way you can easily compare the prices from various buyers. The buyer paying the highest percentage of today's spot price for gold is your best bet.
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Step 3
Weigh your gold yourself. Gold is priced per ounce, so it is a good idea to weigh your gold yourself on an accurate scale just so you have some idea of how much you have before making any deal at a gold party.
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Step 4
Determine the purity of each gold piece before hand. Most gold jewelry is stamped somewhere with a karat rating. 24 karat gold is pure gold. 14 karat gold is what is known as "filled" gold; it is 14 parts gold and 10 parts some other cheaper metal. 10 ounces of 14 karat gold only has 5.833 ounces of actual gold.
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Step 5
Go to the party and have a good time. If you have decided that the price that is being paid at the party is acceptable to you and you have a good idea of how much pure gold you actually have, then by all means enjoy yourself and come back home with more cash in your pockets than you had when you left.
Comments
bluesue said
on 7/12/2009 When it came time for me to sell some gold rings I had, I did a lot of research first. I realized that "Gold Parties" mean a commission to the "hostess" and money to the "technician", and very little money to the person selling the gold. So, I checked out the direct method. I searched online and offline alternatives. Finally, I found the Silver and Gold Exchange. They paid more than any place I could find, online or offline, and had a perfect Better Business Bureau record. They also showed the prices they paid up front on a price chart at http://SilverAndGoldExchange.com
j2bicon said
on 2/5/2009 Hal Martin with Hal Martin's Watch & Jewelry Company also does these types of parties in the Houston area and surrounding areas. The web site is: http://www.halmartins.com or give him a call at 713-785-1111. These parties are fun and everyone makes money.
Jetboatsrule said
on 7/7/2008 I made alot of money using the service of http://www.goldpartying.com They gave me 15% of the total sales @ my party. They Also gave me 5% on a friend that booked from my party!! They are nice, honest, and good looking!!!lol