There are a lot of people who say a lot of awful things about gold parties. There are some writers who blurt-out a lot of things against them and twist the truth, to discourage people from selling their gold in such a party. There are so many misconceptions that are given out against people buying gold at these parties making them look bad. What is the purpose of a gold party in the first place?
A gold party is a gathering where people with ‘scrap’ gold or jewelries that they don’t use anymore, can attend and sell these items and make some money. Take note: they appraise and buy anything which you consider as ‘scrap’ gold or silver. If you present to them a gold or silver item, they will appraise it on the spot and give you an idea regarding how much it’s worth. You, as the seller will still have the say if the price they quoted is acceptable to you. If you don’t agree to the price they offer, then you can walk away with your ‘scrap’ jewelry.
Another delusion that doomsayers also cry out is that in gold parties, they don’t buy your gold at the actual market price. That’s true! As buyers, they give you a price which is a quote below the actual market price. They also need to make a profit for themselves. That’s the reason why they bid you an amount for your item. Then after that, they let you decide if you want to dispose your gold. They never force anyone to part with their gold when they attend gold parties. That’s the magic of free will.
Another issue against gold party buyers is that they don’t return gem stones that are on the item you are selling. That’s also true. If you have intentions of selling only your gold, you must make it an effort to give them just the gold and remove the gemstone that’s on it. They won’t have any means of returning it, unless you have an internal arrangement regarding it. That’s the reason why they encourage ‘scrap’ gold or something that you don’t need any more. If you have a gold earring that’s missing a piece and want to dispose it for a price, then you can bring it there and have it appraised. Don’t expect to get an inheritance pay out from a piece of broken jewelry. You’ll still get a good price but not an amount that will allow you to buy a new car or home.
Finally, it’s true; the host of the party gets a percentage of the sales. All of this is computed based on gold quantity that’s bought. Of course as an organizer, they have to make sure that their expenses for the party are well covered. That’s the reason why they don’t buy your gold based on the actual market price. They have a benchmark price that they use where they gain some profit so that they can continue in the buying business. They also don’t expect you to sell your priced jewelries to them. All they are after is the ‘scrap’ gold you have and give you something in return for turning it over.
These gold parties are conducted to make sure that any ‘scrap’ gold out there is recycled. Rather than let them rot in your jewelry boxes, it’s best to cash-in on them and use the amount to something which you as a consumer will find useful.