Follow these tips and soon you'll be rolling in dough.
Step 1: Hire gold representative Hire a gold representative who will come to your home with testing and evaluating equipment. Research the company to make sure they’re reputable and that they will offer a fair price for items.
TIP: Find companies in your area and search the internet for national consultants.
Step 2: Pick a date Pick a date for your party when the representative can attend.
Step 3: Organize a guest list Gather names and address of friends, coworkers, and family members who may have unwanted gold, and send out invitations.
TIP: Only about 30 percent of the guests invited will attend so invite more people than you really want to come.
Step 4: Set up a table Set up a table for the representative. Requirements may vary, but most representatives need only a well-lit kitchen table.
Step 5: Mingle or watch Mingle with guests or watch as the representative weighs and tests items and gives guests cash based on the weight and carat of the items and the current price of gold.
Step 6: Plan the party Plan a menu of simple food and beverages to serve at the party. You don’t want your grocery bill to cost you more than you make at your party.
Step 7: Collect your money Collect your payment, which is based on a percentage of the total sales at the party. Compensation is usually 10 percent of the sales.
FACT: Did you know? Gold is the most malleable of all metals and can be hammered into sheets 1/100,000 of a centimeter thick.