How to Host a Gold Selling Party

With the recent run-up in the price of gold, gold selling parties are becoming all the rage. And while anyone attending a gold selling party can walk away with more cash in their pocket than they came with, the host of a gold selling party stands to make even more. Guests at a gold selling party bring gold they wish to sell--old jewelry, dental gold, bullion, coins...anything at all that's at least partially gold. By doing this, it's possible to turn unwanted gold into spendable cash. In these uncertain economic times, many people are looking for ways to turn assets into cash. Selling old unwanted gold items at a gold selling party is one way to do so.There are two different ways of hosting a gold selling party, and it is important that you understand how both systems work before sending out your gilded invitations.

Difficulty: Easy

Instructions

1. Contact several companies that specialize in providing services for gold selling parties. Get prices for their gold buying kits. Kits include an accurate scale, a device for determining the gold content of each item, a book describing how to host a gold selling party, prices you should pay for your guest's gold, and how much you can expect to make. Gold party kits can cost $500 or more to purchase.

2. Get in touch with other companies in your area which specialize in the hands-on running of gold selling parties that you would merely host. You would supply the guests (with gold to sell), a location for the party (your home or a rented space) and possibly a few snacks. The gold buying company will provide a representative to weigh and purchase all of the gold, allowing you to simply enjoy your party. There is no out-of-pocket expense to the party's host under this plan with the possible exception of printing and distributing invitations. The host under this plan gets a set percentage of sales (usually 10%), and there may be an allowance for refreshments.

3. Decide which type of party host you wish to be--the owner of your own gold-buying business or merely the host for a third-party to purchase gold from your friends.

4. Send out invitations to as many people as you can to attend your gold selling party. Ads may be run in local newspapers inviting anyone with unwanted gold to attend, or you may wish to restrict your party to individuals known by you.

5. Be a good host. Greet your guests at the door and make them feel comfortable. There should be no need for any arm-twisting or any high-pressure sales at the party as most people attending have already decided what items they wish to sell. Keep the atmosphere light and friendly.

Tips & Warnings

• If you plan on holding one gold selling party, it may not pay for you to purchase your own gold buying kit. It may make more sense to let an experienced third party handle all of the actual purchases.
• Be cautious if placing ads in the local papers to encourage the general public to attend your party. If an "open party" is planned, you may want to budget in one or more security guards to insure against any potential robberies at your party.

[dustyjones123]

on 12/22/2008 I found a website that allowed me to host a gold party at my home and it didn't cost me anything. They supplied a certified gold buying agent and I supplied the venue and attendees with unwanted gold. I received a commission on what gold was purchased and a $50 reimbursement for the refreshments I supplied. Very professional and easy to use service. I recommend them http://www.goldbuyparty.com