March 21, 2009

Let's Party

gold party.jpg

I guess the first thing that gets me suspicious about these gold parties is the reference to a “party.” You would think, at this point, we’d be about done with that term when it comes to money.

And then, looking at some of the items here, especially those earrings on top of the box with the precious stones in them, I’m wondering: are these people buying jewelry based on the scrap value of the metal when the overall aesthetic or content value of the item make it worth more? Also, are these people licensed? (Just noticed the pink business cards.) Finally, hold onto your wallet when the MSM (in this flimsy ABC piece tossing out terms like “quick cash” and “unwanted trinkets“) looks past the country’s financial desperation to make recession seem like fun. The “money” quote:

It’s your grandma’s new-age Tupperware party, (January) Thomas said. “The only big difference is that instead of having to buy anything, you leave with money. There’s no other party like that.

I suppose January never head of derivatives and credit default swaps.

(image: Daniel Barry/Getty Images via Picture: caption: Katie Kupferschmid (left) and Lisa Arata test gold jewelry at a gold party March 12, 2009 in West Orange, New Jersey. Gold parties are a growing trend in the United States where a hostess invites friends and family to bring their unwanted gold to sell for extra income. The price is based on karat content, weight and the market price of gold that day.)

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Michael Shaw
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