Free ring from Tiffany''s (yes, really)

[Paul Varjak]

Contrary to much Tiffany bashing on this board over thier high mark-up, I like buying there. Every few years, we fly to NYC and walk into the 5th Ave store and she picks something out. BIG POINTS for me and the night in NYC are well, memorable. No, I am not rich. I am a federal employee and she a copywriter. To me, the buying experience is worth the top dollar prices. Its like a fine restuarant vs a mom and pop diner; you can get fantastic food at both places but its fun to buy the ambiance on occassion.

Anyway, I found out a way to get my money back on my Tiffany purchases. For x-mas I bought my wife one share of Tiffany and Co. stock (around $35) from oneshare.com. The framed certificate (quite elegant as one would expect) sits above her dressing table. She now proudly owns Tiffany (one share anyway) and gets the annual report to stockholders AND quarterly dividends. They are giving around $.25 every quarter. Thats a dollar a year! Plus she loves GETTING a check from Tiffany''s and the amount makes it fun to cash! At this rate, her Etoile ring set will be completely FREE from Tiffany''s in six thousand years. I can even speed up the return by buying more stock.

And when the stock splits, I double my holdings! How many of you are participating in a rebate plan from your jewelers? I encourage all of you to buy Tiffany regardless of price

 

[homer_j]

Interesting. I'm not sure if I should laugh or not.

 

[jlim]

Very funny. You could also buy TIF at 32.15 w/o buying a Tiffany ring, you know.

I'm glad I read your post again. You did say you'll double your holdings if the stock splits. Otherwise I'll look like an ass explaining stock market to you and I'm sure you are a better trader than me. I thought you said you'll double your investments.

 

[Nate]

LOL

Not so much bashing Tiffanys as stating the facts... they are super expensive! If the ambience is worth it to you, go for it!

 

[Mara]

The Tiffany 'one share of stock' thing is a cool idea! I have a girlfriend who adores Tiffany who would love that for her next bday. Actually more than one friend would...ha ha.

I agree that Tiffany purchases are fun to make...I have some Tiffany jewelry that is designer or just fun to wear...but the e-ring thing to me is different. Getting a tpyical solitaire or similar I would go elsewhere (I did)...but if it was something like the etoile ring where the diamond was really small (since etoile stretches the band to fit the stone diameter--most etoiles are smaller)and you are buying the aesthetic design of the ring rather than the stone, or the Elsa Peretti diamond pave flower rings...that would tempt me to buy even knowing the markup. For things you really couldn't get elsewhere (or have a good replica made so the 6 prong and Lucida IMO doesnt count) the markup almost does not factor in as heavily, because there is nothing else to compare it to.

Plus I'll admit...like a typical girl, I keep their bags and boxes and store my other jewelry in them. Fun. Pretty blue. But I will always still buy my bigger diamonds elsewhere. Pave design, sure..Tiffany. Diamond heart...sure..Tiffany. Diamond solitaire pendant? 3 stone ring? Custom!!

 

[oldminer]

Now, if you had bought 1,000 shares you would have a free ring a lot sooner.

Nice story.

 

[aljdewey]

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On 6/20/2003 9:57:37 AM Paul Varjak wrote:
Contrary to much Tiffany bashing on this board over thier high mark-up, I like buying there. Every few years, we fly to NYC and walk into the 5th Ave store and she picks something out. BIG POINTS for me and the night in NYC are well, memorable. No, I am not rich. I am a federal employee and she a copywriter. To me, the buying experience is worth the top dollar prices. Its like a fine restuarant vs a mom and pop diner; you can get fantastic food at both places but its fun to buy the ambiance on occassion.

Anyway, I found out a way to get my money back on my Tiffany purchases. For x-mas I bought my wife one share of Tiffany and Co. stock (around $35) from oneshare.com. The framed certificate (quite elegant as one would expect) sits above her dressing table. She now proudly owns Tiffany (one share anyway) and gets the annual report to stockholders AND quarterly dividends. They are giving around $.25 every quarter. Thats a dollar a year! Plus she loves GETTING a check from Tiffany's and the amount makes it fun to cash! At this rate, her Etoile ring set will be completely FREE from Tiffany's in six thousand years. I can even speed up the return by buying more stock.

And when the stock splits, I double my holdings! How many of you are participating in a rebate plan from your jewelers? I encourage all of you to buy Tiffany regardless of price

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Very witty post....enjoyed the "tongue-in-cheek" nature tremendously.

For those who may not be "in" on the joke, though, please don't misinterpret. I honestly don't think anyone here "bashes" Tiffany's. Most posters here strive to make sure that questioners on this forum get the information they need to make a well-informed decision.

It is not bashing Tiffany's to state facts, and the following are facts:

1) Their goods are marked up significantly (anywhere from 30-70% based on past examples) to perpetuate their "exclusivity".

2) Any shopper can obtain a diamond of equal quality to Tiffany's for substantially less money from alternate sources.

Armed with that knowledge, it's up to each person individually to determine the worth of the Tiffany's name to them. If you ask me if I think it's worth it, my personal opinion is no.....I don't feel that "the name" adds enough value to justify the inflated price. That isn't bashing Tiffany's, it's simply offering my own opinion when asked for it.

However, I respect that others may indeed feel the name justifies the inflated price, and I celebrate their right to their opinions. If those folks place high importance on a) the name, b) the opulence of the surroundings/ambiance, or c) the feeling of indulgence they get from shopping at Tiffany's, then it's not a waste of money for them, and they should do what makes them happy and purchase at Tiffany's.

The regulars here really don't bash Tiffany's....or anyone else. They just want to give accurate information to potential shoppers so they can buy informed.

To each his own!

 

[aljdewey]

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On 6/20/2003 9:57:37 AM Paul Varjak wrote:
For x-mas I bought my wife one share of Tiffany and Co. stock (around $35) from oneshare.com. The framed certificate (quite elegant as one would expect) sits above her dressing table.

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Heeeeeeey, Paul, I think there's a grain of a WONDERFUL idea in here for price-conscious shoppers, too!

For those who would love to get their beloved something from Tiff's but don't have the budget or cannot justify spending the significant mark-up of the e-ring......purchase a share of stock in Tiff's, frame it, and give it to her after you've given her the e-ring. (This isn't suggested as a deceptive way to pass off the ring as a Tiffany's one, by the way. Rather, you could offer the sentiment that you think she deserves the best of everything and the stock certificate is a symbol of that!

She can have something from Tiffany's after all!

 

[rbjd]

Did you factor in the taxes you are paying on your dividend? It may be a little more than 6000 years to your free ring after taxes.

 

[manhattan01]

I got a necklace free from Tiffany. I ordered it from the Toronto Store (since I'm in Canada) but called the next day to cancel it because I decided to get it from the Seattle store...it was closer, cheaper (US rate) and shipping was less. So Tiffany Toronto cancelled my transaction, refunded my money and that was that. But then...they did it twice. I checked my credit card statement and sure enough, 1 debit of $xxx.xx (I can't remember how much it was now) and 2 credits of the same amount 1 week apart.

Haven't tried it again...course I cancelled my card after that.

 

[homer_j]

Unethical, but hey the system aint perfect.

 

[fire&ice]

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On 6/20/2003 9

9:25 PM homer_j wrote:

Unethical----------------

Yep, in the end someone pays. And someone has money that isn't there's. BTW, if the grocery clerk gives me more change than I am entitled to, I give it back. No question.

 

[Mara]

I am the exact opposite. I see someone's mistake as my gain. A wrongly posted price on an internet website? PERFECT! An undercharge at the mall. EVEN BETTER! I figure it all evens out in the end, I am sure I have overpaid for things at times too or been doublecharged without even realizing it.

My latest example is: for Father's Day I wanted to get my Dad this cool corkscrew and aerator wine set that our friends have. They got it at Sharper Image. It was $90 on their website. I would pay it if I *had* to...but I went on the hunt online to find it for cheaper. SI was selling it on eBay, opened box for $50. Still a year warranty so not so bad. Kept looking. Came across a website where SI was obviously a partner, and there was some sort of deal where if you buy one SI product, you get this set for $45. It expired on May 31. It being June 5th or something when I bought this, I figured...why not..I'll try it. I put the order through online, no red flags. The email informed me it was sending my order to SI for processing. I thought for sure someone would catch the error. Called them the next day figuring if it didn't work out, I had to buy the eBay one pronto to be sure it came in time. Asked about my order, they said it had shipped that morning! I gleefully checked my account and there was the nice charge for $45 plus shipping and tax. Score! It arrived 3 days later, brand new and still in the shrinkwrap, and my dad loved it. I then talked to my friend who had it first and she said they used that special offer, they had to buy something else to get the 1/2 deal on the wine set. HA!

Being an internet marketing person, I love capitilizing on other people's internet mistakes. I've made a few myself (e.g. old promo left up) and all you can do is honor the transaction and slap your hand.

This is along the same lines as ecoupons. For a while JCrew's backend was screwed so that you could enter more than one coupon code. Their text said you couldn't...but well we all know that text on sites sometimes lies. So I would enter 2-3 coupons and end up with free shipping and $50 off my order. Someone's mistake on being sloppy on the e-backend before launch on not patching a hole was my gain!

Que sera sera!

Life goes on!

 

[manhattan01]

There've been many times I've been given more than I should have got, change at a grocery stores, malls, etc. I tell them, make a joke, laugh about it, correct the mistake. This Tiffany exprience was a little different seeing as how for me to correct it, I'd have to call them, find the sales person I was dealing with, explain to them what happened, etc. It just wasn't that easy to correct the error as I didn't notice it until I got my statement which was about 6 weeks later (the 2nd refund was on my next, next statement). Karma? Perhaps. This situation for me, was a win. I've had my share of losses, and I'll have more. Call it unethical if you want.

sw.

 

[elmo]

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On 6/21/2003 4:39:48 PM Mara wrote:

I am the exact opposite. I see someone's mistake as my gain. A wrongly posted price on an internet website? PERFECT! An undercharge at the mall. EVEN BETTER! I figure it all evens out in the end, I am sure I have overpaid for things at times too or been doublecharged without even realizing it.
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Mara, what would you think if a stone like you've been looking for came up in a search that was priced well but still priced fairly, 20 back. You call the seller and say you want to buy, but the seller says the price was a mistake, the actual price is 5 over.

I'm curious what you'd think?

 

[Mara]

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On 6/21/2003 9:59

7 PM elmo wrote:

Mara, what would you think if a stone like you've been looking for came up in a search that was priced well but still priced fairly, 20 back. You call the seller and say you want to buy, but the seller says the price was a mistake, the actual price is 5 over.

I'm curious what you'd think?

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Curious about what I'd think how? Would I still want the stone? Depends on what the price is as compared to other stones out there along the same lines. Would I try to get the 20% deal? Maybe, but if they have a disclaimer on their site I don't really have a leg to stand on. Would I feel like maybe they were trying to get my business by posting the 'botched' price and then claiming a mistake later? Maybe...depends on their reputation or lack of one. Does any of these answer your Q?

I could think alot of things from the scenario you posted...but not too sure if any of the above was what you were asking?