If you look around on the internet for info about gold parties, you’ll find many conflicting opinions about whether or not they are a good way to get rid of your unused gold jewelry. If you’re considering going to a gold party or hosting one, here’s some advice…

Go with Someone You Trust
With gold parties, you are basically stuck with whatever offer the representative gives you for your gold jewelry. With this in mind, you should always go with someone that you know, if possible. If you do not know anyone, talk to some friends and see if they’ve had good luck with someone. Basically, try to get a referral. It’s similar to buying a car, would you rather buy from someone you know or from a total stranger?

Adding a Middleman
Any way you cut it, gold party representatives add another step in the sales chain, and they want to get paid too. After they buy your gold jewelry, they have to turn around and sell it to someone else that actually melts it down or resells it. Many online gold buyers will claim that they can offer you the best price because they don’t have to pay the overhead that brick and mortar jewelers do. Using the same logic, gold parties are adding yet another step in the chain, so it is unlikely that they’ll be able to give you as much money as an actual jeweler or online buyer.

Bottom Line
If you just want some quick cash and a good time with your friends, a gold party can be a great choice. However, if you want to get the most money for your gold jewelry as possible, it is always smart to take it to a couple respected local jewelers and have it appraised. Find out what you’ve really got first. Then, when you get an offer from a gold party representative, you’ll know if it’s a good one or not.