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Forget the Tupperware parties. These parties pay cash.

Forget the Tupperware parties. These parties pay cash.

March 26, 2009

As the price of gold rises, "cash for gold" parties are becoming as popular as the old Tupperware parties

Say goodbye to the Tupperware parties and candle parties in which you expect to walk out of a neighbor's home with less money. There's a new party coming to town and these parties pay cash!

And in the middle of the recession, there's nothing better than cold, hard cash. People are walking away with hundreds of dollars and in some cases more than $1,000 selling their old gold jewelry that they don't use any more.

It's hard to go past a jewelry store without seeing a sign in a window that says: 'We Buy Gold.' And there are a few online sites that buy and sell gold such as exboyfriendjewelry.com (what a great domain name!). Is it any wonder? The price of gold is up 51% to $938 an ounce since January. But the gold party I'm talking about is different.

These are home gold parties and some entrepreneurs are turning this into a home business similar to the old Tupperware parties. You simply invite friends and family to clear out their jewelry boxes and dressers in search of outdated gold, mismatched pieces, gifts from an 'ex-,' broken chains, single earrings, broken wrist bands and so on. They bring the items to your home for your 'gold party' where each piece is weighed and purchased on the spot at the current market value.

The parties are fun too ' as Janice Smith of Royal Oak, MI said 'I have been to many candle parties or purse parties and when I got home my husband would ask me how much money I spent," as quoted on mygoldparty.com. My friend's gold party was different ' I actually walked out with a check for $800, although I am not so sure I should tell my husband that either! I can't believe what I thought was junk lying around in my jewelry box was worth so much.'

The host gets a percentage of the payout. And what I love is that a few entrepreneurs are turning their expertise into a REAL business using the Guruship model that I use with my clients.

For instance, MyGoldParty.com is teaching people how to run their own parties and is selling a do-it-yourself system for others to follow. They offer everything you need to go into business yourself with their Gold Party Kit that includes a scale, magnifying loupe, gold tester, guidelines on what to pay for gold and 'how to' book.

Some people are even hosting events at work and at salons. Non-profit groups and churches are also getting into the act and using them as a fundraiser.

What a great niche! As I say, there's always a silver lining. Where's the silver lining in your business?

Taking you from where you are to where you want to go,

Jon

Jon Goldman, CEO

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