Gold party Toronto
If you are going to avoid the gold party scam, there are a few things that you need to know about how they work. Gold parties offer a way for you to sell your jewelry for a little extra money, but do they offer the best way to sell your unwanted gold or jewelry so you get the most money possible? In these difficult economic times, maximizing your profits and putting some extra money in your pocket is a priority, right?
How do gold parties work?
Basically a friend or relative hosts a gold party at their home and invites friends and family over for a dinner party and maybe cocktails. But at this party there is also a representative from a gold party company that will offer you money for your unwanted gold or jewelry. This person will evaluate your gold for its quality, test and weigh your jewelry, and make you an offer, usually in the form of a check. There are no obligations and you can turn down or accept their offer and walk away with extra money in your pocket. Sounds simple doesn’t it? Now let’s dig a little bit deeper into the process.
So where is the gold party scam?
So who is making the most money off of your gold? In the average gold party, everybody seems to be taking a cut out of your profits. In a typical party the representative will pay out about $3000 to the guests. That’s for an average of about 10 people attending the party. The host takes a percentage of the total payout, usually about ten percent. That’s pretty lucrative for the host, huh? The more people they invite, the more money they make. Yep, it’s as simple as that.
When the party is over, the representative sends the jewelry to the gold party company. This company then sends the gold to a refinery to have is smelted. After this process, the refinery pays the gold company for the melt value of the gold. The gold party company then sends a check to the gold representative, because he or she has paid the guests out of pocket. Everybody in the process is taking a cut of the profits all along the way. This is how you get caught in the gold party scam. Your profits are not maximized because everybody’s pockets are getting lined with money that should be yours.
So how can you get the most money for your gold?
If you are going to get the most cash for your gold and maximize your profits, you should consider an online gold buyer. Online gold buyers offer high payouts for your unwanted or