Ali suggested that I share some of what I have learned about the Legacy stone with the group thinking that some might be interested. I know for a fact that there is at least one member who knows more about it than I do, but I will tell you all what I know and have learned over the years. (This is just my understanding of the info. So I could be mistaken in some details but I believe them to be all true). First, the inventor of the Legacy diamond first approached Tiffany with his idea for a mixed cut modified cushion stone in the mid to late 1990''s. Tiffany was apparently encouraging towards him, but didn''t want to be financially involved. He was able to get some stones cut using his new idea and he also sought and received a Design Patent in 2001. Then he decided to apply for a utility patent. Now, getting to see his perfected vision created in a diamond along with his successful prosecution before the PTO got Tiffany''s attention. I should point out that while Design patents are only good for about 7 years generally, a utility patent is good for 20 years. And for 20 years from the date of issuance, (in this case 2006), no one can make that product. This is why no one cuts the Legacy diamond shape but Tiffany, and no one will cut a Legacy shaped stone until 2026 at the earliest. When it was clear that he had created something novel and wonderful, Tiffany and he signed an exclusive license to the cut. The inventor still owns the patent, but only Tiffany has the right to make or sell Legacy stones. Imagine how wonderful that is. Tiffany also has another inventor who actually works for Tiffany. He designed the amazing Lucida diamond, ALSO subject to a utility patent. So many people will say that a design patent is common for jewelry. Well, a utility patent certainly is not. And it is quite something for the company to own or exclusively use two of them, both for diamond cuts. This is why when you buy Tiffany, it is a lot more than buying a box. To suggest otherwise to me is just something people say because they cannot understand why their prices are SO high. And it doesn''t help that so few of the salespeople working there can articulate why Tiffany jewelry is art. Someone once explained to me that if an artist could recreate Van Gogh''s "Sunflowers" to a T, no one would pay hundreds of millions of dollars for it. Why? It would theoretically be an exact reproduction. Why not pay the same for an exact reproduction? I think the reason is because in the final analysis, it is a copy. If you think of fine jewelry as art, then when you buy at Tiffany you are buying the Rembrandt. You are buying the original, and no attention to detail is spared. For me, I think that if a buyer could afford a Legacy engagement ring at Tiffany with a center stone a size of .75 carat or greater, they would be better off buying the smaller Tiffany stone than a copy of the Legacy. And they can feel good about that decision because they are not buying a copy, but rather a unique diamond that is just exquisite. It is also diamond that is subject to two patents and which no one can recreate. I think that is extraordinary. (When I got engaged, we could not afford even a .75 carat Tiffany round brilliant. So I got a GIA certified 1.15 elsewhere set in a simple solitaire setting. I LOVE my ring, and I never felt cheated out of not having a Tiffany round brilliant. But a Legacy or a Lucida (neither of which existed when I got engaged) is a very different story. If such a stone had existed, I would have given serious thought to a small center stone, just to have that beautiful design.
On another note, there is a rather extraordinary history between Tiffany and Tanzania that continues even today. When I decide to go with the tanzanite for my ring, I have to admit that some of that decision was driven by the historical connection between the stone and Tiffany. I thought you guys might be interested to see an original 1969 Ad from the New Yorker magazine heralding the arrival of tanzanite at Tiffany''s. But it is so large, I cannot get it small enough to post. If anyone has some ideas about that I would love to hear how to do it. Some of my books talk about the tanzanite discovery and Tiffany''s connection. If I find something else interesting, I will share it with the group. Anyway, I hope some found the Legacy stuff interesting.
On another note, there is a rather extraordinary history between Tiffany and Tanzania that continues even today. When I decide to go with the tanzanite for my ring, I have to admit that some of that decision was driven by the historical connection between the stone and Tiffany. I thought you guys might be interested to see an original 1969 Ad from the New Yorker magazine heralding the arrival of tanzanite at Tiffany''s. But it is so large, I cannot get it small enough to post. If anyone has some ideas about that I would love to hear how to do it. Some of my books talk about the tanzanite discovery and Tiffany''s connection. If I find something else interesting, I will share it with the group. Anyway, I hope some found the Legacy stuff interesting.
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