Innovation That Matters

Parties help guests sell their gold

Work & Lifestyle

As the weakening economy causes purse strings to tighten in many parts of the world, consumers are increasingly looking for new ways to earn some extra money. Enter My Gold Party, which facilitates Tupperware-style parties that help guests sell their unused trinkets, cashing in on record gold prices. Launched earlier this year, My Gold Party sells all the equipment minipreneurs need to host parties in which guests can sell their gold, including a scale, karat tester and book of instructions. Party hosts then invite guests to bring gold coins, watches and jewelry to their party, where they assay and weigh each item to determine its current market worth. The party host pays guests for the items with cash or a cheque, then ships the gold to a refinery, which in turn pays the host—at a rate the host hopes will be higher than paid to the party guests. The gold is then melted down and reused. My Gold Party’s kit for hosts is priced at USD 699.50. (Obviously, scales and karat testers can also be bought from many other suppliers.) Consumers in hard times have always been able to sell their spare jewelry in pawn shops, but by bringing the process out of the back alley and into the living room, My Gold Party legitimises and updates it with a social and entrepreneurial twist. As the saying goes, there’s gold in them thar hills—both for the consumers who have it and for the minipreneurs who help them sell it. One to bring to cash-strapped hills near you? Spotted by: Bill McMahon



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