Scam of the Day

I've never heard of gold parties, but apparently they're a huge scam.  If you want to sell jewelry, find a jeweler--preferably more than one--and get a price for it intact.  The workmanship has to be pretty shoddy for the gold to be worth less as jewelry than melted down.

Which is pretty much common sense, as is the notion that you should check the price online before you sell.  So why does this work?  Because people trust friends and acquaintances more than some stranger in a shop; if you're in a home, you feel more trusting. The parties often involve alcohol, which is not a good negotiating tool.  As the poor labor market drags on, I expect that this sort of thing will only get more common. 

Presented by

Megan McArdle is a columnist at Bloomberg View and a former senior editor at The Atlantic. Her new book is The Up Side of Down.

Riding Unicycles in a Cave

"If you fall down and break your leg, there's no way out."

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.

blog comments powered by Disqus

Video

Riding Unicycles in a Cave

"If you fall down and break your leg, there's no way out."

Video

Carrot: A Pitch-Perfect Satire of Tech

"It's not just a vegetable. It's what a vegetable should be."

Video

An Ingenious 360-Degree Time-Lapse

Watch the world become a cartoonishly small playground

Video

The Benefits of Living Alone on a Mountain

"You really have to love solitary time by yourself."

Video

The Rise of the Cat Tattoo

How a Brooklyn tattoo artist popularized the "cattoo"

More in Business

Just In