Discover the Newest Cash-Generating Trend: Gold Parties on AOL

[Stephanie Fisher]

Move over Pampered Chef and Mary Kay. The latest in-home sales "party" concept has reversed the usual guest-to-rep cash flow. Instead of pixie-sized portions of a demonstration omelet, or a makeover that makes your dog bark at you when you get home, the new guest takeaway is cash.

So claim the many "gold party" services cropping up (curiously, overwhelmingly headquartered in Detroit). Companies like My Gold Party and Gold Party by ADI offer to help convert your friends' gold to cash, either by supplying you (for a fee) with the equipment and training for do-it-yourself appraisals or by sending a representative to your home who will set up shop in your kitchen.

Trading your bling-bling for cash is nothing new, of course. Many folks have turned to the jewelry chest when times are hard. Traditionally, you don a scarf and dark glasses and do it quietly in a back room across town. What's new is the idea that parting with Mom's locket or Dad's pocket watch is a rollicking good way to spend a Friday night, accompanied by spinach dip and boxed wine.

As has been reported by WalletPop previously, would-be gold brokers should proceed with caution, particularly if they are required to make an investment upfront. And there are compelling arguments for keeping the lid on your jewelry box for now.

 

[janetupnorth]

I've seen this off and on for the last month or so. I'm not selling any jewelry! (Not that I have anything of value other than my wedding ring).

 

[PamperedDor]

Ha - That is so funny - I just read that about 4 minutes ago - I was like... hmmmm why did they say PC and MK - what about the others!! Probably because we are the best!!

 

[Stephanie Fisher]

Ha - That is so funny - I just read that about 4 minutes ago - I was like... hmmmm why did they say PC and MK - what about the others!! Probably because we are the best!!

That's kindda what was going through my head!

 

[PCJenni]

I saw this on the evening news the other night. They showed a "party" in action. Basically it is a "pawn shop" party!

 

[Evelynt]

There are people who come through my town and run full page ads in the newspaper. You bring your coins, gold, watches etc. I got $180 for scrap gold, broken chains etc.I do not think it would be a fun evening to watch my friends sell off their jewelry because they needed money.

 

[buckeyefan08]

There are people who come through my town and run full page ads in the newspaper. You bring your coins, gold, watches etc. I got $180 for scrap gold, broken chains etc.

I do not think it would be a fun evening to watch my friends sell off their jewelry because they needed money.

Doesn't sound like a "Party" to me! "Hey lets get together and advrtise how broke we are to all of our friends!"

 

[susanr613]

"I was like... hmmmm why did they say PC and MK - what about the others!! Probably because we are the best!!"

We're the "gold standard" of direct selling ;-)

 

[The_Kitchen_Guy]

Also - there is no recession.

We may be in a slowdown or even an economic downturn, but to be in a recession, the economy has to have negative growth two quarters in a row. We have not have any negative growth. The economy is not growing at the rate it has in the past, but it is still growing, not shrinking..

This is media people tossing around terms they know nothing about.

(Like http://www.jrmanning.com/2007/08/03/on-the-tragedy-of-the-35w-collapse/ when the I-35 bridge collapsed in Minneapolis.)

 

[finley1991]

I sold some old jewelry I had not worn in 20 years at a party as was thrilled with getting the cash! It was just sitting in my dresser for no reason so ti was great!These parties have become VERY popular in SE MI. Ironically, though, in the paper today, our county is proposing to cash in on these parties themselves by making the host get a $25 permit to have the party. If someone has a party without the permit, they will be heavily fined, according to the article in the paper if the proposition passes.

 

[lkprescott]

I sold some old jewelry I had not worn in 20 years at a party as was thrilled with getting the cash! It was just sitting in my dresser for no reason so ti was great!

These parties have become VERY popular in SE MI. Ironically, though, in the paper today, our county is proposing to cash in on these parties themselves by making the host get a $25 permit to have the party. If someone has a party without the permit, they will be heavily fined, according to the article in the paper if the proposition passes.

Sounds similar to our 'yard sale permit' our township wants folks to have to hold a yard sale.

Guess it's easier than trying to figure out sales tax and remitting that to the state for the exchange of goods for cash.

 

[The_Kitchen_Guy]

I sold some old jewelry I had not worn in 20 years at a party as was thrilled with getting the cash! It was just sitting in my dresser for no reason so ti was great!

These parties have become VERY popular in SE MI. Ironically, though, in the paper today, our county is proposing to cash in on these parties themselves by making the host get a $25 permit to have the party. If someone has a party without the permit, they will be heavily fined, according to the article in the paper if the proposition passes.

If you drive a car, I'll tax the street
If you try to sit, I'll tax your seat
If you get too cold I'll tax the heat
If you take a walk, I'll tax your feet

Taxman!
Cos I'm the taxman, yeah I'm the taxman

-George Harrison