Gold Party Girls: Get an Education
About Cash for Gold—and Silver and Diamonds
January 29, 2012 by Karen
Filed under Featured, Lifestyle, My Daily Find, Shopping
BY KAREN YOUNG
It seems like
everywhere I turn there’s a sign or ad for “Cash for Gold”—as well as
invites flooding my inbox for “gold parties.” The whole concept piqued my
interest since I had a few pieces of gold from the 1980s and even charms
from the 70s (no kidding!) that I no longer wear. I called various shops
and talked to friends who had sold their gold. I narrowed down the various
sellers and got some bids. Eventually my search led me to Calabasas
residents Stacey and Michael Silberman because the greatest number of
referrals I received pointed back to them.
I first spoke with
Stacey over the phone and told her what I had to sell. Michael followed
up with more answers. Since I had already received prices for my
gold at a couple other places, I was prepared with the ballpark price I
would accept. The Silbermans quoted a 15% higher profit for me than
other gold buyers. However, it wasn’t just the price that sold me, it was their
calm manner as they explained the process of selling gold. They both
enjoy educating their customers and go out of their way to teach. I didn’t
feel pushed to sell to them, but because I had checked around, I knew they were
giving me the best price. I didn’t go to a gold party, but rather made an
individual appointment. I asked the Silbermans to explain their business, as
well as the ins and out of selling gold, to share with MY DAILY FIND readers.
Q: What is Gold Party Girls?
The Gold Party Girls is a small family-run business we
started after we had a gold party for our closest friends, neighbors and
family. People loved this new concept and it hadn’t caught on yet in sunny
California. Stacey enjoys the art of sales and has always loved throwing a
good party —that’s how we came up with the name Gold Party Girls. Michael is
affectionately referred to as the Gold Party Girls’ ‘Guy’— as he is often the
life of the party using his charm and good looks (said Stacey) to create a
comfortable environment at the event. Today, the Gold
Party Girls has
evolved, catering mainly to women 40 and older, who’ve had the time to collect
old, broken, outdated jewelry they no longer wear or want. In fact, most people
forget that they have the jewelry stored away in some hidden place. As we
tell them, “Just look and see what you’ve got.”
When our clients sell
their gold, it’s like finding a hidden treasure trove of cash, which they
usually use for discriminatory spending on things like clothes, fashion
jewelry, designer bags, vacations, or whatever it is they’ve deprived
themselves of because of economic concerns. Or just to pay their
bills. The gold party industry has helped support local businesses,
providing an infusion of cash to people who’ve had to cut spending in half, due
to financial worries. “Found” cash from unused gold jewelry provides guilt-free
spending and brings a lot of joy into people’s otherwise stressed-out lives.
Q: There are signs for “We buy gold” all over the streets.
Why is your business different?
We are a small
family-owned business, operating almost entirely from referrals, which keeps
our cost of doing business much lower than jewelry stores, pawnshops and
kiosks. We have low overhead and don’t spend much on advertising, which allows
us to pass on a higher percentage payout to our clients. We have an excellent
reputation which is why we have succeeded in a highly competitive market. If a
client is not sure about selling something, our policy is to say “No” and to
“please keep it” until they are absolutely sure they want to sell. There is
never any pressure to sell. We are honest business people and treat all of our
clients with respect. We answer questions thoroughly and walk our clients
through each and every transaction, making sure they understand the process of
evaluation and pricing. We don’t look for transactional business, but seek a
long-term relationship with customers. That’s what sets us apart.
Q: Is there an advantage to attending a party over an individual
appointment?
The sale of personal
jewelry, coins, diamonds and sterling silver sets can be emotional for some,
which is why many women prefer the party environment. It feels much less
daunting to attend a Gold Party than a visit to the Gold store. Many prefer
private appointments too. We are sensitive to the needs of our clients, who
come from all walks of life and circumstances. It is that ‘personal touch’
among other things that has made our business thrive. A lot of our
clients return to us several times.
Q: Do you buy other metals besides gold?
Yes we do! We buy
gold, sterling silver and platinum jewelry, gold and silver coins, sterling
silver sets, platters, bowls, flatware, diamonds etc. We provide a highly
personalized service through individual appointments, gold and silver parties,
fundraisers, multi-vendor boutiques, and more. We also receive calls and
emails from people around the country seeking advice on how to sell their gold
in small towns and cities across the country. As a result, we’ve encouraged
people to send their gold and silver by Federal Express for a much better
payout then they’d receive back home. Plus, we’ve started a service which
helps our clients find buyers for their collectibles and antiques as well.
Q: If a customer comes in with a diamond or gems in their
jewelry, such as in rings or necklaces, will you buy them? And if so, how do
you figure out pricing?
Quick answer, we do
buy diamonds but not colored stones with exception. Pricing is determined based
on the quality of the stone and which market may be more suitable in which to
resell it. Also whether it is more prudent to sell as a loose stone or to
keep it in the setting and sell the entire piece. We do not buy all
diamonds and what we do and do not buy is discussed in depth in the Questions
& Answers section of our website.
Q: What should a seller be aware of when selling their gold?
Sellers should make
sure they are selling to a reputable business or individual who knows what they
are doing. Be aware of businesses that offer you a low-ball price and then
raise it significantly when you start to walk out the door. This is a practice that
some of our clients have encountered when getting a competitive price for their
gold.
Q: How much does the fluctuating market affect gold sales?
We buy our metals
based on the New York Spot Market. The world Gold Market is based upon pure 24
karat Gold. Most jewelry is only 40% to 75% gold content depending on the karat
of the jewelry. We have to pro-rate the gold based on the market price,
percentage of gold and percentage paid. For the average transaction, small
movements in the market make little difference, but our rates do vary from day
to day depending on the market price for silver, gold and platinum.
Q: There seems to be a gold party at someone’s house
every week. How does your party differ?
Professionalism and
education. We like to say, don’t ask us, ask the almost 8,000
individuals, churches, temples, school districts, schools, sports teams, small
businesses, boutique vendors and charitable organizations we’ve already
served. They will happily say that the Gold Party Girls create the most
fun and pay the most money. We get people excited through hostess
coaching, joy, and a knack for throwing a good party! We’ve had numerous
clients tell us that we put them at ease during transactions. We are skilled at
what we do and enjoy helping people understand gold and silver. We remember and
share fascinating information and stories we’ve learned over the years and make
ourselves interesting in a safe and drama-free place. We spend a good deal of
time educating clients through each and every transaction. All of our business
is by referral. We do not require a minimum number of guests for a
party. We assist you through the entire process and create an email flyer or
printable fliers as needed
Also, we have a new
addition to our business that can be included in parties. We added
Stella & Dot to offer combination ‘boutique’ events where
attendees can also buy stylish fashion jewelry.
Q: What do I receive if I have a party?
Hostesses earn 10% of
the total amount paid at the party. If the event is a fundraiser then we would
donate 15% directly to the organization. Plus, if friends and family
can’t attend for any reason, we schedule private appointments before or after
the event, usually, within a two-week window and Hostesses still receive
the 10% commission. On parties over $5,000, we also pay up to $100 for
refreshments served at the party. That is for a job well done! We are so
grateful every time we meet new friends at a party. We can’t thank you enough!
The 10% fee does not take away from sellers, but is built into our competitive
rate schedule. We also pay referral fees between $25 and $100 depending on the
amount of the sale referred—it’s a “win” for everybody!
Q: How can I have a party, make an appointment or find out about
Stella & Dot?
Contact us by phone at
818-262-2992 Stacey or 818-262-0038 Michael. By email at silberman1@aol.com or visit our website http://www.GoldPartyGirls.com.
Karen
Young is the Founder/Editor of My Daily Find. Got news? Email:
Karen@mydailyfind.com