14 DAY TRIAL // They say diamonds are a girl’s best friend and, to some extent, so are other gems and valuable metals, such as gold or platinum. However, since recession has so far proved to be a girl’s worst nightmare, all prized possessions also have to go to make ends meet. Consequently, Gold Parties or “bling and buy” parties have started to gain more ground, as a new piece in the Daily Mail reveals.
Jenny Nisbet of the Mail recently went to one such party and she can testify that, while the atmosphere seems to be just as chirpy and relaxed as at a regular women’s tea party, there is clearly nothing easy about parting with family jewels. The truth is, Nisbet says, that women are forced to sell their most prized assets in order to be able to continue paying children’s school fees or loans they took out years ago, which is how these Gold Parties have come to slowly take over the middle-class social scene.
“Whisper it quietly: we’re taking part in one of the most intriguing – and secretive – new social trends: a Gold Party. Or a ‘bling and buy’ party, if you will. None of us will admit it, but we are all here because we’re in financial pickle. We’ve reached the point where we’re prepared to sell our jewelry and family heirlooms to keep ourselves afloat in the recession. […] Who would flog their prized possessions just to raise some spending money? Quite a lot of people, it would seem. They just don’t shout about it. Invitations to these parties are by discreet word of mouth only.” Nisbet says of the practice that has been going on for months, and of which she always believed it was just an urban myth.
The women who usually attend this type of Parties are not even close to what one might expect to see, Nisbet explains. They’re all wearing heavy and impeccable makeup, have their shiny cars parked outside in the driveway, and their creaseless suits look just as good and new as everything else about them. They all smile and tell jokes, talk of family life and pretend they’re not there to say goodbye to some jewelry item they’ve been holding onto since the time their grandmother was still alive. What’s more, Nisbet says, the very purpose of their going to such a party is completely ignored, with all guests tip-toeing around it in the most delicate manner possible.
“Gold parties like this one are springing up across the country for one reason: where gold was £180 an ounce ten years ago, it’s now £610 an ounce – so heirlooms, teenage bling and ex-husbands’ guilt offerings can be turned into cash.[…] In many respects this is a very middle-class recession. House prices have fallen nearly 17 per cent in a year, redundancies are on the rise, but school fees and car loans still need to be paid.” Nisbet says of the one propelling force that makes this happen.
As long as the organizers of one such party pay close attention to the expertise of the gold trader they summon, there is little harm in such gatherings. Basically, the trader evaluates each item individually, weighs it and then offers the seller the market value of its gold content – best case scenario. Cases of people who got literally ripped off have been known to happen, so all those interested in attending a Gold Party should be careful before actually agreeing to kiss off their gold jewelry items.