Tiffany second hand valuations

[BloomsburyHouse]

I re-sell genuine Tiffany engagement rings. It is sooo frustrating that Tiffany won't issue valuations or diamond certificates for pre-loved items (unless you have the details of the original owner).

I was wondering anyone has had a working relationship as a second hand dealer with Tiffany to provide certs?

We would happily pay for a service but it seems as though there is no way in!

 

[denverappraiser]

Nope. Tiffany is famously uncooperative. If you're friends with any of their staff you can get retail prices on things that they currently have in stock but even that is curiously limited. If it's not on the website, they don't want to talk about it. They don't like giving out authentication reports to much of ANYONE, but especially not to dealers.

 

[diamondseeker2006]

Hi, Bloomsbury! I remember asking you before which name your site was under, but I thought I would suggest adding your website to your signature below the posting box. That would alleviate the confusion with your name.

 

[BloomsburyHouse]

Thanks for the responses.

I thought there was no way around Tiffany but wondered if things had moved on. It's so frustrating!!! Will add URL to signature -thanks.

 

[denverappraiser]

For reasons that make no sense to me, Tiffany seems to want to minimize the value of their brand name in the secondary market. It’s odd for a company that takes their brand name SO bloody seriously. It’s the exact opposite of the folks at BMW who promote ‘certified preowned BMWs’. BMW wants to maximize residual value for their customers because that’s part of how they get premium prices. They don't even sell used cars but they know the markets are related and it benefits them to support it. Expensive used cars helps sell expensive new cars. It makes sense to me. On the other hand, Tiffany out-earns me (and probably you) by a factor of a thousand so who are we to call them dumb?

 

[BloomsburyHouse]

Yes, I don't think they are stupid. I think that the reason BMW get behind their second hand market is that you don't get problems of authenticity. If Tiffany backed second hand dealers they'd have to back all the goods and the inherent risk with that is that dealers might sell either knowingly or unknowingly inauthentic item.

Thus the value of backing the second hand market is outweighed by the devaluation of the brand by ignorance and unscrupulousness!

If only I could show them how scrupulous I am!!!!

 

[kenny]

Tiffany doesn't make any money when a shopper buys a used Tiffany ring.
I'm sure they'd rather make money selling that customer a new Tiffany ring than help you basically take away their business.

I'm not saying it's right; I just think their policy is not surprising.
Tiffany is a business, not a non-profit.

Perhaps on a similar note, Steinway piano company recognized their main competitor was old Steinways rebuilt by independent rebuilders.
Finally Steinway got smart and got in on the action.
Now they also rebuild old Steinways and sell them.
They can command a higher price than any other rebuilder can.

 

[denverappraiser]

I see it slightly differently. One of the reasons people love the Tiffany brand is the perception of enduring value. Part of that is the belief that what is being purchased is an heirloom that future generations will count as valuable. It’s an asset. Encouraging the secondary market of authentic Tiffany made items while discouraging the sale of counterfeits would, in my mind, obviously help.

We’re not talking about them offering a free service here. They used to sell authenticity reports for $200 but dropped this few years ago. That’s what they cost even if the answer was no or undetermined. Within some very broad limits, they could charge whatever they want for these things, and they’re PURE profit. It twice gets into the store a client who isn’t already a Tif’s customer and who obviously values the brand. They both bought a piece and are willing to pay to confirm who made it. It would be hard to find a better prospect than that. It’s not one but two sterling opportunities to sell them something new, opportunities they don’t get by refusing the business. The worst case is they get $200 (or more) and miss on a sales pitch.

 

[Niel]

I always looked at the decision to stop auth preports as a way to make people uncomfortable with buying second hand. There are a lot of Tiffany knock offs. The way a buyer in the second hand market felt comfortable enough to wade through that market was the comfort that they could get an auth report. Now you can't. So when someone wants a Tiffany they essentially have to pay for a brand new one as they have no way of truly verifying the purchase of a second hand piece. That's more profit for Tiffany than an auth report fee.

Now I admittedly don't know what it means of you have all the original paperwork form the original sale. Will they do a verification of it then? If so, then at that point you would think it increases the resale value of anyone who was able to keep absolutely everything intact.

 

[denverappraiser]

The original client can get an authentication, although they do it as part of an appraisal.
Heirs of the original client can get one but they face a bit of an argument, especially if they don't have the same surname.
Recipients of a gift can get one but face an interrogation over who they are, who gave it to them, when, why and so on.
Customers who bought it from the original client are out of luck.

Niel, that's sort of my point. They're deliberately trying to reduce the value on the secondary market. That's an unusual decision and, in my opinion, it's a mistake. There may indeed be a few people who will buy new because they can't buy used, but there are also people who will refuse to buy new because it doesn't hold it's value. This sword has two edges.

 

[Niel]

The original client can get an authentication, although they do it as part of an appraisal.
Heirs of the original client can get one but they face a bit of an argument, especially if they don't have the same surname.
Recipients of a gift can get one but face an interrogation over who they are, who gave it to them, when, why and so on.
Customers who bought it from the original client are out of luck.

Niel, that's sort of my point. They're deliberately trying to reduce the value on the secondary market. That's an unusual decision and, in my opinion, it's a mistake. There may indeed be a few people who will buy new because they can't buy used, but there are also people who will refuse to buy new because it doesn't hold it's value. This sword has two edges.

I wonder if they are banking on the fact that an engagement ring is often viewed as a "forever purchase". Cars get high milage and computers out of date, buy many people consider their engagement ring to be their only one for life, and of course, they will not ever get a divorce.