Corporate parties with a golden difference

A jewellery manufacturer in the US is pioneering a new type of corporate party - one at which the guests are invited to sell their gold on the spot.

Detroit-based firm Michael David has begun sponsoring private events, where attendees can bring broken necklaces, old rings, or other unwanted gold jewellery in order to cash in on the soaring value of the precious metal.

An expert uses special equipment to test the quality of the jewellery and offers cash there and then if the gold is ten, 14 or 18 karat.

With gold prices at a record high of almost £450 per ounce, the concept has proved a hit with partygoers - from corporate executives to opticians, the Detroit Free Press reports.

"It is found money," Michael David founder Gail Kenny told the publication. "I knew this was an opportunity."

Guests receive between around $9 and $10 per gram of 14 karat gold, which is 58.5 per cent pure and the most common form of the precious metal in the States. Eighteen karat is around 75 per cent pure, while 24 karat is 100 per cent and the most expensive.

The innovative house party trend has already reportedly spread to nearby Oakland County suburbs.

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