I want to have a Gold Party, but how do I find people interested in selling their gold?
Most people have a couple stray earrings, a broken bracelet or necklace hanging around. Most don’t realize they have it until you ask. As a company, we announced our first gold party to friends and family and purchased close $1000 in gold. Have faith, invite everyone close to you, and it will turn out better than you expect.
How much money do I need for a gold party?
Start with family and friends. That way, if you only have $500, and $800 in scrap gold shows up, your family knows you can pay them back after you get money from the refiner. Gold parties usually run $1500-$3000 in sales, so work toward having that amount as a minimum cash cushion for every party.
Where else can scrap gold be found?
The time comes when you’re friends and family are all tapped out of scrap gold. At that point, you’ll need to make some friends with local business people. They’ll be shockingly valuable to you. The more foot/car traffic you can find, the more customers you’ll have.
Aside from that, think about where you can find the most people physically. Post offices, supermarkets, gas stations and convenient stores. Everyone is hurting in the economy right now, so most business owners you approach would be thrilled to work with you. It may even increase their sales since people can spend the money you pay them, at the location.
Don’t be afraid to team up with another person or business to create joint ventures.
Also our marketing material promotional pack can help get people to your parties.
I live outside the U.S. can I send my scrap gold to your U.S. refiners?
Yes. Our recommended refiners handle international orders.
Do you purchase diamonds?
We do not purchase diamonds from scrap gold customers. Unless you are professionally trained we do not recommend it.
What about white gold, rose gold, or any other colored gold?
Does the recommended tester work on Rose, White, Green, or any other shade of Gold?
Yes. Our Recommended Gold Tester tests these different gold alloys with no problem. 14kt yellow gold is similar to 14kt white, rose, or other colored 14kt gold. As a percentage they contain a similar amount of pure gold.
How much should I pay the host of the gold party?
In our opinion a base commission of 10% is sufficient. That number may change depending on the circumstance. But just remember–always make everyone you do business with happy. You need to them with a pleasant memory of you, as well as a desire to do more business with you. This means giving thoughtful gifts and bonuses from time to time for great performance.
How much do you recommend paying customers?
Looking at it from the perspective of our payment calculator, we like making 50%-100% minimum profit margins. Most gold party operators make a much higher percentage, but its up to you and the customer. The more you pay, the more business you may earn down the road. Find a payment range that suits your style and makes your customers happy.
How long does the gel pen last for the recommended gold tester?
The gel pen should provide anywhere from 250-500(estimate) tests, provided it’s well taken care of and not wasted. Please visit our Store page to purchase additional gel refills.
Why do you recommend a tester that only tests up to 18kt. gold?
We feel its unnecessary because as a company we’ve purchased thousands of items and have rarely ever seen jewelry made with gold higher than 18kt. in purity. Additionally, the 24 kt. testers are more expensive. We had to purchase a bunch of them for our company, and felt the cost savings far outweighed the ability to test to 24kt.
Can I use an Acid Test Kit for my gold parties?
You may. However, we never use these acid test kits. You will need to wear protective gloves and a face-mask. If you use these chemicals at a gold party you risk hurting someone with the acids. Its just easier not to deal with it.
Also, an electronic gold tester looks much more professional.
He said, she said, they said, someone told me…..
For your own sake, never assume anything. This includes assuming someone else’s opinion to be fact. It could be anybody, even us. To quote James Dines, “Opinions are like noses, everyone’s got one.”
Trust but verify, this includes the information you receive from us.
I’m too scared to send my items to a refiner, what do I do?
We’ve been there before too. It’s okay to be scared, but just remember to think logically, and think small. This means taking baby steps.
Start by clipping a few necklaces and bracelets into equal-sized increments. Then, carefully package each equal-sized package and send them to 2-4 difference refiners. By doing it this way, you risk a very small amount, and your spread out your risk. If one of them never sends you any money, it will be a small loss, and a huge learning experience.
When all the checks return from the refiners, compare them against each other. If all the refiners say, “we pay 95%” this means all the checks should be the same amount(roughly). If one or two of the checks are dramatically different, you’ve got some homework to do.
Take the highest-paid check, and think about how they treated you. If you were given a high-level of customer service and support, consider doing business with them once more, but with a larger amount. If they make you happy on a regular basis, rejoice, for you’ve now found your gold refining partner for life!
I talked to a refiner who said he wont do business with individuals–only businesses with business licenses. Will your refiners do business with me?