12/22/09 Alexandria, Virginia – Cash4Gold.com seems to have been the first out-of-nowhere mega business success at extracting gold from the general public. Well… to the extent that running a Super Bowl commercial and its associated hype is some bizarre measure of success. The competition was destined to follow… and the new trend is now in at-home gold parties, with the theme of discretely selling gold jewelry for dollars.
According to the Wall Street Journal:
“Worries about inflation have pushed gold prices above $1,110 an ounce, up 50% from a year ago. And many people stung by the weak economy are looking for discreet ways to raise extra cash without sneaking down to the pawnshop.
“As a result, gold parties are booming, creating opportunities for aspiring entrepreneurs—and a new worry for regulators. Typically, small companies promote the parties through word of mouth or by advertising in communities likely to produce plenty of sellers. The companies provide a specialist to value sellers’ items, and pay the host a cut of about 10% of proceeds.”
Even a former Goldman Sachs employee has jumped on the opportunity, founding her own firm and naming it “Gold Mine Party LLC.” You can read more about her and the gold party business in the Wall Street Journal’s coverage of your invitation to the newest type of gold party.
Rocky Vega
Rocky Vega is publisher of Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update -- which he ran from Brazil, Chile, and Puerto Rico -- as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let’s Go Publications, Harvard Student Agencies, and The Harvard Advocate.
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