Local News

Gold-buying parties offer golden opportunities

Posted March 8, 2009

Map Marker  Find News Near Me

— Tupperware and Mary Kay home-buying parties have new competition: gold. The secondary gold market is big business these days as gold prices show strength compared with other commodities.

Gold parties are newest craze Gold parties are newest craze

In recent weeks, gold has hovered around the $900 level as investors, fearing more turmoil in the equities markets and the economy, flocked to the investment in search of safety.

With gold prices high, gold-buying parties are becoming a golden opportunity for people looking to make some quick cash.

Kelly Sullivan says her old gold jewelry was just collecting dust. So when she heard she could sell it for cash at her neighbor's house in Cary, she rushed over.

"Most of it is from my grandmother. She used to buy it on the Home Shopping Network,” Sullivan said.

"Everybody is having fun.  It is like Vegas in here. It is like, 'Whoa, she just got $200,'” gold-buying party host Terri Brinton said.

Gold-buying parties are similar to those of Tupperware and Mary Kay. A person invites friends over, and a gold buyer purchases the attendees' jewelry.  Instead of buying something, you get paid to sell gold jewelry that you no longer want. The host or hostess gets a percentage of the party's profits for holding the get-together.

“I was just totally shocked,” guest Neva Eckley said of the $518 she got for her gold.

However, gold buyer might offer a lower price than you might get at a pawnshop because they have to pay for the gold to be melted down and resold.

KidsPeace, a non-profit that helps provide therapeutic foster care to children with behavioral issues, will get 12.5 percent of Brinton's Golden Girls Gold Party profits.

"It was difficult at first because it was sentimental, but then I thought, no this is going for a worthy cause,” Sullivan said.

For more information on hosting a gold-buying party, call Golden Girls Gold Party at 239-887-0354.

11 Comments

This story is closed for comments.

Oldest First
View all
  • haggis basher Mar 10, 2009

    "Hang onto your gold - 6 to 12 months from now you will be glad you did. In 2 years, even more so."
    Its already at a historical high, If you can get the real value of it then it might be worth moving now.....I wish I had put all my money into gold eagles instead of on my kids 529 a few years back.....

  • oldschooltarheel Mar 9, 2009

    Hang onto your gold - 6 to 12 months from now you will be glad you did. In 2 years, even more so.

  • info6me Mar 9, 2009

    time4real... holes are acceptable, most jewelry being turned in I suspect have them too!

  • time4real Mar 9, 2009

    i have some GoldToe socks, what can I get for those? Some have holes!

  • pinklady-1 Mar 9, 2009

    sidekick...i agree!...i'd like to post my mary kay info too!

  • IzzMad2016 Mar 9, 2009

    I sold some jewelry items that had been cluttering up my jewelry box as far back as High School (many, many years). Nothing that held any sentimental value or had been worn in FOREVER. I had a REALLY good time shopping and splurging with the $335 I got for stuff I had no interst in keeping any longer.

  • haggis basher Mar 9, 2009

    I know of an expert in this business and typically they give you half of what they will get for it from the people who really do the sorting and melting down.
    The Charity bit is just rather shameful marketing. Do the research, get twice what these cons will give you and give that to the Charity! As for the values in the TV program they will have had it professionally valued BEFORE taking it to the Pawn shop or the Party.
    These Gold parties are just another way of fleecing the foolish.

  • DontLikeTheSocialistObama Mar 9, 2009

    My friend who owns a pawn shop says you know the economy is in trouble when people start selling personal possessions and keep sakes that they received from friends and relatives.

  • avidreader Mar 9, 2009

    Think I will hold on to mine - the way this economy is tanking it may be all I have one day to buy food!!!

  • Sidekick Mar 9, 2009

    Is this a paid advertisment? WRAL, will you let me post my Mary Kay phone number to host a party?

More...