Post Content

 

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:

 

Written By:

Recent Posts

Paying bills after a disaster posted on Jul 20

Paying bills after a disaster

Following a natural disaster, consumers in the disaster area are undoubtedly faced with challenges. After making sure loved ones are safe, attention turns to repairing damages and salvaging belongings. Day-to-day activities are often forgotten or put off. But it’s important to remember there are responsibilities,   …Continue Reading Paying bills after a disaster

Beware of fraudulent IRS calls posted on Jul 18

Beware of fraudulent IRS calls

The IRS is warning of a new spin on a common scam that is being reported across the country. The scam is linked to the Electronic Federal Tax Payment System (EFTPS – an automated system for paying federal taxes electronically using Internet or phone). Scammers   …Continue Reading Beware of fraudulent IRS calls

It Pays to Check that Parking Ticket posted on Jul 13

It Pays to Check that Parking Ticket

Scammers routinely use creative ways to trick people into giving them money and this parking ticket scam making the rounds in larger cities is no different.  Crafting official-looking citation tickets, con artists have created a few different variations of the scam to prey on their   …Continue Reading It Pays to Check that Parking Ticket