With the current high price of gold, women across Canada are participating in this growing trend, cashing in on forgotten trinkets—from school rings, unmatched earrings and broken, tangled chains to tokens of love-gone-bad—and are getting paid on the spot. Parties are organized through companies such as Gold Party Princess, in Toronto, and Gold Party Canada in cities from Vancouver to Montreal.
Throwing a gold party is easy. Hosts simply invite friends and family to their homes and provide refreshments, and the experts appraise guests’ unwanted gold and buy it right then and there. Your former jewellery eventually goes to a refinery, where it is melted down and recycled. “We make sure guests understand that they won’t see a piece of theirs sitting in the display case of a store,” says Shawn Zimmerman, co-owner of Gold Party Canada.
Payouts vary, depending on the pieces, and some lucky guests take home hundreds or even thousands of dollars. The host gets a cut, too—usually either a commission on total sales or a fixed amount per guest, including a reimbursement for food and drink.
These parties are a chance to relax and mingle, reminisce about bygone fashion eras and failed marriages, and cheer on fellow guests as they cash in on their jewellery. Most admit they prefer the safe, convenient and fun setting of a home party rather than a visit to the local pawnshop.
While there’s no obligation to sell, guests are usually amazed by the offers. In Toronto, one stunned partygoer recently exclaimed, “I feel like I’ve won the lottery!” Ka-ching!