What are gold parties?
Gold parties are events that are organized for the purpose of buying/selling used gold jewelry.
People gather at a location, usually the hosts house, and bring their unwanted gold jewelry that they would like to turn into cash. The holiday season is the perfect time for them to get extra cash.
The person buying the gold jewelry goes to the party with all of the equipment necessary to evaluate the jewelry and pay cash for it. He also pays the host a fee for gathering all of her friends for the party. It is customary for the gold buyer to pay the host 10 % of the total money paid for the gold.
Gold parties can be an excellent way for the buyer of the jewelry to pay higher rates than a pawnshop would pay because of the lack of brick-and-mortar overhead.