Should You Sell Your Gold at a Gold Selling Party?

If you're a stay-at-home mom, you may be considering hosting or attending a gold selling party, that is a home party to sell your scrap gold jewelry. Whether you choose to or not is really a matter of choice. In the end, you'll be the one who'll need to decide. But before you do, there are a few things you may want to keep in mind.

These types of parties are not for everyone, especially when you're planning to host one. If you're not fond of waiting on people, serving snacks and cleaning up, hosting one is maybe not for you. Of course if you do decide to host one, you could make at least 10% of what is sold at the party.

• If you host the party, you may have to purchase the invitations and snacks unless the company you host the party for is willing to spend their money on these items.

• You should plan to invite friends only unless you don't mind complete strangers coming into your home and possibly going through your belongings.

• Make sure you have a babysitter if you have kids. This is an adult atmosphere and should be treated like one. No one wants to do business when there are kids running around playing. Plus jewelry and little girls mean too much fun!

• Keep things fun and be understanding. No one wants a rude and pushy friend who just wants to make a profit on them.

If you're considering attending one of these types of parties, you should always know your host.

• If you're expecting a large profit from your jewelry, don't. These parties might pay you better than your average pawnbroker, but they won't give you anywhere near the retail value of your jewelry. You'll get a price based on the meltdown value of the gold content only.

• Leave your kids at home. If your hostess has a babysitter, you should have one too. These parties are not for the little ones!

• Before you arrive, take photographs of the jewelry you intend on selling. You never know when something may go wrong.

• Don't be rude if you don't like the offer quoted to you. Instead, enjoy the rest of your time there and move on to another buyer such as a reputable jewelry dealer.

On a final note: When you sell your gold at a home party don't announce it to the world. This may seem a little silly and childish, but you'd be surprised at how really excited we can get over something and forget that there are eavesdroppers who are willing to do almost anything to rob you of your valuables. So be very careful of whom you talk to! Safety first.