The price of gold is as high as it has ever been, and buyers of gold are making sure consumers know about it as buyers try to use high prices motivation for consumers to pull old jewelry out of their drawers and sell it.
As with any other transaction, consumers need to be informed about the marketplace and go through a reputable source. One area of the gold market that is becoming more popular is “gold parties,” which can be a fun and productive way for a consumer to sell their gold.
The premise of gold parties is quite simple. A host holds the party at her house, and invites friends to bring their gold. A third party provides a representative who weighs the gold, determines the karat weight, and offers a price to the jewelry owner. The seller earns some money (if she accepts the price offered) and the host gets a slice of the action (usually 10 percent of the total distributed to sellers).
Gold parties can be a good way to sell your jewelry. You’ll be at a party with friends, and you’ll be financially helping your friend hosting the party. Just make sure you know exactly what you are selling. Visit a local jeweler, and find out the karat weight of the jewelry and how much it weighs. Get an estimate on how much you might be able to fetch for the piece. This way, you will know if you are getting a fair price at the gold party.
At the end of the day, the key thing is to make sure you’re dealing with someone you are comfortable with and feel like you are getting a fair, market-value price. Stay away from situations that leave you feeling questionable about the buyer, and think long and hard about using the heavily-advertised mail-away programs, which can lead to problems of lost jewelry and low-ball offers.
Watch Mike LaCrosse’s report on WGGB/Channel 40:
Consumer Advisory: IRS Tax Preparer Fraud posted on Feb 10
As the April 15th deadline to file taxes approaches, the Office of Consumer Affairs and Business Regulation is warning consumers about fraudulent tax return preparers. The IRS defines tax return fraud as the preparation and filing of tax returns that contain false or inaccurate …Continue Reading Consumer Advisory: IRS Tax Preparer Fraud
Purchasing a vehicle this President’s Day? Here’s how Massachusetts law protects car-buyers posted on Feb 9
President’s Day is synonymous with nationwide car deals. Dealership car sales increase by about 25 percent during this holiday weekend, according to Ray Zhou, a senior analyst for car shopping website Edmunds.com. If you choose to take advantage of reduced prices and purchase a …Continue Reading Purchasing a vehicle this President’s Day? Here’s how Massachusetts law protects car-buyers
How skimmers are getting away with theft at the gas pump posted on Jan 29
Skimming is the latest trend to reach into consumer’s pockets around the United States. Here’s some information that anyone using a credit or debit card at ATMs and gas pumps need to know. What is Skimming: Skimming refers to the theft of credit and …Continue Reading How skimmers are getting away with theft at the gas pump