Tupperware parties are out. The latest craze to sweep suburban living rooms is “Gold Parties”, a chic new way to pawn off your old unwanted gold or diamond jewelry, gossip with the girls – and possibly take home a hefty check.

The idea is that all the invites scrounge their jewelry boxes and underwear drawers for jewelry they no longer want or care for, for whatever reason. It might be a diamond engagement ring that doesn’t have much meaning left five years after your divorce, or a gold bracelet your mother-in-law gave you that you’ve always found hideous. Many women also feel uncomfortable about going into a sketchy pawn shop or meeting with a gold dealer.

Whatever the cause, the unwanted jewelry could be worth some money. The idea of the ‘Gold Parties’ is to bring in a jewelry or gold assessor, who can assess the value of your jewels and your friends jewels in one fell swoop. And, it’s a party, too.

The assessor weighs the jewelry, and after some calculations, offers a check on the spot. The Tupperware party model was invented by Earl Silas Tupper back in 1946. It was a groundbreaking business model, to bring the wares to as many possible customers as possible, in the comfort of their own homes. Inspired by the Tupperware model, in 2008 one opportunistic businessman decided to create his own model, that centered around gold.

Although Gold Parties are an easy way to make a buck and have a good time at the same time, if you’re looking to throw a gold party, beware of opportunistic buyers who are exploiting the trends. Some are offering rock-bottom prices for the gold and diamond jewelry, relying on the assumptions that the sellers have no idea of the value of their gold wares.