If you''re considering Tiffany''s...

[ambenj]

think twice! 3 years ago my husband took his hard earned money to Tiffany''s for my engagement ring. Now we have discovered that my .40c stone which was over $3000 is worth $400 everywhere BUT Tiffanys. We are upgrading and looked into going back there(to Tiffany''s) but discovered that despite their promise of crediting you the full amount you paid toward an upgrade, they actually charge a $400 fee for a re-appraisal. So needless to say that did not make it worth the exorbitant mark-up for the next stone we would potentially choose.

Every jewler, dealer, and person I''ve spoken to says that Tiffany generally marks their jewelry up 3 times what it would cost anywhere else.

My husband, who is a Bond Analyst and Ivy leave Business school graduate and generally careful, smart investor, feels like a dope for ever falling for their marketing pitch. I love Tiffany jewelry and if you have an unlimited amount of money to spend then it''s a great place to buy a ring but if you care about the value of your money and want to make the most of your purchuse I highly recommend looking elsewhere.

Just my 2 cents!

 

[Nicrez]

Wow, not even Friday....

Tiffany's will sell higher than average generic stones on a secondary market. That said, never let anyone tell you ANY diamond is an investment, Tiffany's, Cartier, etc...

If you are looking into a smaller stone, I always suggest finding a better cut, and a nicer size for the same price. I assume that .40ct could have been almost a .81, D color, SI2 for $2,949.00 TWICE THE SIZE!

But, if name is what you want, then Tiffany's is what you get...to each his own! Thanks for sharing your experience, and I am so sorry to hear how it wasn't exactly what you thought it would be!!!

 

[sumi]

Thanks for sharing your experience. If you do a search for Tiffany, you will find that this is a never-eding topic of discussion around here. (hence the Friday joke, it seems there is a Tiffany thread started every Friday). I'm sorry to hear that you feel duped. As I said, if you do a search, you will find that there are a lot of people who feel the same way.

 

[fire&ice]

----------------
On 4/6/2004 1:03:58 PM Nicrez wrote:

Wow, not even Friday....

Tiffany's will sell higher than average generic stones on a secondary market. That said, never let anyone tell you ANY diamond is an investment, Tiffany's, Cartier, etc...

Nic, it's not the stone. It's the *ring* w/ the Tif mark inside that will sell at a premium over generic similar *rings*. The stone itself is basically generic. If I recall correctly, ambenj is using her Tiffany setting & only trading in the stone. The stone is inconsequental to the jeweler purchasing the diamond, hence, the low $400.00.

Goodness, it's only Tuesday.

 

[Nicrez]

True enough F&I, Tiffany's stones can not be told apart from anyother stone out there, but their BANDS can...

Ambenj, Not sure what size you are looking to upgrade to, but if it's a significant size larger, note that the band may no longer properly hold the stone, so iassumed that you would get rid of the stone AND band...

Ask Tiffany's if it is possible to get the appraisal from GIA (which someone once stated can be cheaper, like $100). First of all, if that were me in Tiffany's, I would calmly look the lady/man in the face and say, for a $3000 ring, you are going to try and take away $400 of my buying power? No way. I will not accept that price, let me speak to the manager.

These from the people who serve their high clientelle champagne. Say you go there for full service, and you want to be treated as such, and don't back down!

Good luck!!!

 

[Obsessed]

----------------
On 4/6/2004 12:55:40 PM ambenj wrote:

think twice! 3 years ago my husband took his hard earned money to Tiffany's for my engagement ring. Now we have discovered that my .40c stone which was over $3000 is worth $400 everywhere BUT Tiffanys. We are upgrading and looked into going back there(to Tiffany's) but discovered that despite their promise of crediting you the full amount you paid toward an upgrade, they actually charge a $400 fee for a re-appraisal. So needless to say that did not make it worth the exorbitant mark-up for the next stone we would potentially choose.

Every jewler, dealer, and person I've spoken to says that Tiffany generally marks their jewelry up 3 times what it would cost anywhere else.

My husband, who is a Bond Analyst and Ivy leave Business school graduate and generally careful, smart investor, feels like a dope for ever falling for their marketing pitch. I love Tiffany jewelry and if you have an unlimited amount of money to spend then it's a great place to buy a ring but if you care about the value of your money and want to make the most of your purchuse I highly recommend looking elsewhere.

Just my 2 cents!
----------------

That is too bad, ambenj. I am sorry the T&Co ring wasn't what you expected. However, I beg to differ on some of your points(naturally because I purchased a Tiffany ring after enough thought)! The fact that your bond trading MBA husband feels regretful about his decision baffles me... He should remember from his Ivy league business classes that any successful luxury business(ie T&Co) is selling image, hope, and experience in addition to above average quality. He should have known when he 'valued' the ring, that the price is the sum of all cash flow present values or in this case, future benefits in consumption since there is no cash inflow except at the end. Resale value of Tiffany ring should be higher than what you stated, 400. You have to sell it to the end-user, not a wholesaler. The 3000 retail price you paid must be compared to the price that another consumer would pay. From research and probing, I would think that you should be able to sell your ring for 1000 to 2000. Really! Assuming you sell it for 1500, the money you think you 'lost' would be 1500. But it wasn't lost, you consumed or used it for 3 years. That is $500 per year to sport a Tiffany diamond ring(this includes all the marketing, image and brand buiding involved). Whether you think that is too much money or not is up to you and your husband should have figured this out with reasonable accuracy. I did! To think that the ring is an investment like a bond or stock is silly. You don't get any enjoyment out of a bond or stock except for a tiny little interest or dividend. Lets see, a 3K bond at 7%.... wow, thats 210 bucks a year. But you can't really compare the e-ring to an investment, can you? How about a 300 dollar coach bag? You'd probably wear it out in a year or so. Many woman think its worth the 300 bucks to carry the bag for a year. Everyone else on this forum will tell you that the e-ring(tiffany or not) is not a good investment. Its a consumable with some benefits as to resale value. How much money do you expect to get for selling a 3 year old bike? or a designer bag even? Not much. Same thing with rings. Atleast T&Co will give you 2600 upgrade for your old ring. That would be really useful if you wanted to get a bigger ring there.

 

[baltneu]

My husband, who is a Bond Analyst and Ivy leave Business school graduate

The above is what is in the original thread. I have found that many men who earn lots of money and who do not have time to research and spend time on the project, will buy from stores like Tiffanys because they feel they are getting a superior product and it comes with a baby blue box.

I know a few high wage earners who send their assistants out to buy jewelry for their women because they do not have the time. Some Bond traders in the NYC area can earn $10k per day, and it is not worth their time to give up a few hours to do the research or even go shopping.

I don't know if this is a fit for the above story, but if it is, then you got what you paid for. And if it is the fit, then I do not feel sorry for the buyer at all. My 2 cents.

 

[fire&ice]

Here we go and it's only Tuesday.

Ambenj is *keeping* the setting. The diamond in the setting is generic. PERIOD. No one is going to pay a premium for this diamond once removed from the setting. And, while Tif's may give her $2600.00 toward the purchase of another stone. The other stones are *still* overpriced. It's a false economy.

 

[valeria101]

Not sure investing in jewelry is same as shopping for the brand. Signed Schlumberger pieces would most likely make a good prchase from this point of view, but standard Tiffany rings... nope.

Also, I am not sure it is easy to account for how large that premium is. Even among the ~ 1ct rounds posted here one finds some 50% variation in the price per carat within the same color&clarity combination. Many other factors are left aside, and without considering these 'other' quality factors.. it's hard to tell.

It is likely that giving in the old ring to Tiffany towards an upgrade will get you the most on it compared to selling the stone or ring anywhere. Not sure you'd like as much a ring three times cheaper than the Tiffany's version if only carat, color and clarity of the stone is taken into account.

On the other hand: it is easy for any jeweler to beat Tiffany's prices

Do you have all the 'numbers' on the table ? This would be an interesting example ....

 

[ambenj]

If I had traded in the band as well do you think I would have gotten a much better price??
They are putting bigger prongs in the tiffany ring- going to see tonight and hoping it's not butchered! (maybe should have traded in band too but wanted to save something of my original ring)

 

[ambenj]

To the people making comments about my husbands job- the point I was making is that he is not quick to throw money away bc his job is about being careful with it and making a good investment so it's ironic that he made this mistake.
Also FYI- he bought my ring when he was in school and was FLAT BROKE so it means alot to me that he saved what he had and bought me the ring despite having little money.

 

[pulp_princess]

Here's my two cents.

I thought that Tiffany's was more expensive too, but it wasn't (IN MY CASE ONLY, so don't all jump me at once!

). It turned out that even before the shipping, import charges, etc., a comparison was made between a non-Tiffany H&A found here on the pricescope price lists and an actual purchase at Tiffany's, and the PS ring (setting + diamond) was only about $50 cheaper. Add in the import taxes, etc., and it made Tiffany's a whole ton cheaper! It was for a 0.24, D, VVS1 diamond, and from the GIA cert, it had ideal cut proportions, so that was why I chose to compare it to the H&A prices. As far as I know, Tiff's only uses GIA certs, so maybe that is their best price (but I thought GIA was cheaper!). I didn't end up keeping the Tiff ring just because their service ticked me off!!

So there must be a cutoff mark somewhere that their diamond prices skyrocket??

Forgot to mention, here is a link to the numbers on how I got $50: https://www.pricescope.com/community/threads/premium-for-brand-name.13718/

 

[valeria101]

----------------
On 4/6/2004 3:13:45 PM ambenj wrote:

If I had traded in the band as well do you think I would have gotten a much better price??
----------------

You paid for the "Tiffany" name... so would have others. Once the ring is no longer all-Tiffany, the catch is gone.

I hope they did not put this (WWW) on top of the band of your original ring. It would make it really like one of those $300/apiece settings plus the mark inside the band. Hope I'm wrong

 

[Nicrez]

ahhhh...and now it's time for the upgrade, huh....

Well congrats!

Nothing wrong with Tiffany's, just know that if you are a deal person, Tiffany's is not the place to shop. BUT if he shows the ring to friends and says I got it at Tiffany's and people ooh and ahh, then there's no problem!

As for the setting, if Tiffany's can accomodate the upgrade to fit the old setting, I would assume they will do an excellent job, as it is their name and quality on the line. If you had a .40ct, and went to a 2ct, then I don't assume they will use the same setting. If you went from the .40ct to a .75ct, it's doable. Maybe if the upgrade warrants, they will return the ring to you with a new band..?

Either way, love your ring and flaunt it!

Oh, and please post pictures when you get a chance! We looooove eye candy!

 

[pad3006]

I am sorry to hear of your bad experience trying to trade up your Tiffany diamond. But there are rules to how much addtional cost you have to spend to get a full upgrade value of your ring. I believe you have to spend over an additional 50% of the cost of the ring, but dont quote me on that it is based on memory
You normally have to pay for the remounting of the ring since it has to be re-set in a new setting which I may add is hand made.

IF you took some time and called and spoke to a manager you would get a better explination then mine or I am sure the one you got from the sales professional you dealt with.
Tiffanys has put a lot of time and money into presenting the brand name they do so I am sure they would want to make your experinece as good as possible provided that you are reasonable in your expectation and in how you act with the people you deal with.
I have a family member who works at Tiffanys and they always are saying how Tiffanys will do what they can to provide customer assistance. But you must use the right channels to get the results you disire.
If you would like me to find out specfics for you I could, just send me a message.

Phil

 

[CaptAubrey]

----------------
On 4/6/2004 3:28:11 PM pulp_princess wrote:











So there must be a cutoff mark somewhere that their diamond prices skyrocket??

----------------

part of the problem is that d-vvs material is in very short supply and high demand right now. you aren't going to find it cheaply anywhere, tiffanys or otherwise.

 

[Obsessed]

ambenj,

Yes, you would have gotten more for the ring, intact! I didn't know that the 400 you quoted was for the diamond itself. Unfortunately, the diamond on a tiffany ring is not unique(unless it is the Lucida). The so called "premium" we pay for a Tiffany ring is for the entire package including the craftmanship of the setting to the blue box factor! When you pulled your diamond apart from the ring, you pretty much gave up 80% of the value. I understand you wanting to keep some of the original element of your e-ring. If you feel that you are retaining the sentimental value by trading only the diamond, i guess it is well worth it. But from a practical point, you should have either sold your entire ring for about 1500 bucks, or traded up at T&Co. The chances of your creative project ending up with the custom-fit look of the original ring is less than ideal.... But I hope that you have found a very good craftsman to alter your ring.... good luck and post pics when its all done.

 

[ambenj]

I had them put in prongs that were a duplicate of the prongs on my tiff. ring. I am going from .40 to 1.53- going to see tonight- just hope the bigger size will work on same ring. starting to worry...

 

[fire&ice]

Also, make sure the mark is still there. Often times, reworking can obliterate the mark.

 

[Obsessed]

Wow, this whole thing is beginning to sound like a precarious circus act.

Ambenj,
forgive me for the tone of my posts. On a positive note, congrats on your new diamond

. You much be thrilled!

 

[Nicrez]

I assume you mean they are changing the HEAD of the ring, because the head of a .40 would not likely allow a 1.5ct stone. Think about it.

Your stone would have had to be floating to accomodate the circumference of a stone 3 times LARGER! Whom ever is doing it, I would make sure you like the quality on the work done, and really really look at how well placed the prongs are, etc.

Relax! Don't worry, if they did a good job, you'll notice. But make sure that before you leave you have in writing that it can be fixed for free if anything happens. Of course, get the ring insured, if it isn't already!

Now breathe....what's done is done, and with a big ring like that and a tiffany's band, I am sure you'll have quite a piece. I priced a Lucida at that size and it was $28K (E, VVS2), so you're most likely a head of the game on price!!!

 

[valeria101]

----------------
On 4/6/2004 3:43:16 PM ambenj wrote:

I had them put in prongs that were a duplicate of the prongs on my tiff. ring...----------------

Sounds much better... no worries. If worse comes to worse, rings are made every day. I hope the actual ring would crash negative comments; this what they are good for

Tiffany has a nice webpage on what quality details are to expercted from their rings. Not sure wether rings must stand scrutiny at 10X magnification (like the diamonds in them), but you have been wearing a rather nicely made ring already, so you will know where the new job ranks.

Keep us posted

 

[Jolie]

I recall looking at Tiffany when we were shopping last year. The one ring I recall specifically was a 1 carat solitaire, VS2, I-color. It was priced at $9,800. At the time, I believe similar stones (without settings) were selling for around $4,000 on the internet. Which made me think the Tiffany setting would cost me about $5,800.

I didn't care enough for the Tiffany setting to pay $5,800 for it. However, I also believe that if a person is truly in love with the Tiffany setting, that is the ONLY place to get it. Although "similar" settings can be found, they are different - at least, different enough to protect the seller from suit by Tiffany for trademark infringement (or copyright, not sure which, I'm not a lawyer). I also hear Tiffany rings have a higher resale value.

So it's up to each person to decide how much they are willing to pay for the Tiffany setting and name. And no matter where you bought your stone (Tiffany or otherwise), you paid too much for it. To me, all diamonds are overpriced - but they bring a warm and fuzzy feeling anyway.

 

[luvmysparklies]

Ambenj-
I think your ring will be gorgeous! Congratulations on the upgrade. From what I understand of Tiffany rings, is that their prongs are custom made to fit the diamond. Their prongs encase the curves and angles of the diamond, so you don't get the look that was posted from the Stuller site. I am a little unclear (read dense!) if you upgraded (bought) the new stone elsewhere and took it to them to re-mount in your original setting? Or did you tell them you wanted them to upgrade the stone and put it in your original setting?

From what I have read, when someone wants an upgrade-Tiffany's usually just tries to find a setting already containing a diamond as close to the person's specs as possible - again, because each setting head is customized to the diamond and they really can't pop in and pop out heads. If not, then they probably will be rebuilding the prongs customized to fit your new stone. All the authentic tiffany settings that I have seen (both on-line and in person) have prongs that follow the diamond's angles and contours. They are not at all like the generic tiffany-style settings.

Congrats again on your upgrade! Wowzers!

 

[baltneu]

Hey
If he was "flat broke", why a Tiffany ring? I am a little confused.
However, enjoy your new ring and congrats.

 

[Mara]

Amber..be careful and scrutinize that new head (basket with the prongs) on the stone. Make sure they kept the old one, the real Tiffany. TONS of people try to replicate that setting each day, month, year. Only a few actually get close to the real thing. Someone slapping on a new head that is called Tiffany Style may be FARRRRRR from the look of the original. The Tiff head of their signature style ring is very distinctive and I have only seen a few other designers who even captured 99% of the 'essence' of the look. So just be careful on that. They will not be able to use the same head most likely, the change is too large, so double and triple check this modification...it's a big one.

Good luck!

 

[ambenj]

Thanks for all of your advice.
To answer some questions-
we traded in the Tiffany diamond for a non-Tiffany diamond with a local jeweler. He is mounting the new stone in my old setting from tiffany- taking out the old head and putting new prongs into my ring that says Tiffany on it. As I mentioend - am a bit nervous abotu this but chose prongs that are identical to the Tiffany prongs I had (except they will be able to hold the larger stone. I was supposed to approve the work last night so they could mount the stone but got stuck at work. Going tonight for sure so I will report back. Fingers crossed all is well!
Thanks again- Amanda

 

[Nicrez]

----------------
On 4/7/2004 9:43:03 AM ambenj wrote:

He is mounting the new stone in my old setting from tiffany- taking out the old head and putting new prongs into my ring that says Tiffany on it. As I mentioend - am a bit nervous abotu this but chose prongs that are identical to the Tiffany prongs I had (except they will be able to hold the larger stone. I was supposed to approve the work last night so they could mount the stone but got stuck at work. Going tonight for sure so I will report back. Fingers crossed all is well!
Thanks again- Amanda----------------

Now where did HE get an empty original tiffany's head JUST for your size stone to match perfectly? Does he have so many lying around in all sizes? Also, make sure if they take out the HEAD (the prongs and basket), that they return it to you, just like links on a watch you have resized. I am not sure this guy will have prongs with Tiffany's name on them, as Tiffany's doesn't stamp their prongs with their name...? I think this guy is trying to reassure you that it will look just like Tiffany's and maybe he does a good job or not, but that's up to your eyes to determine.

But don't think that there are prongs or baskets with Tiffany's name, only their quality is stamped on those (which many jewelers can NOT copy), but the band carries the Tiffany's symbol alone. Good luck and let us know how it all works out!

 

[Kiz]

----------------
On 4/7/2004 10:05:31 AM Nicrez wrote:

----------------
On 4/7/2004 9:43:03 AM ambenj wrote:

He is mounting the new stone in my old setting from tiffany- taking out the old head and putting new prongs into my ring that says Tiffany on it. ----------------

I am not sure this guy will have prongs with Tiffany's name on them, as Tiffany's doesn't stamp their prongs with their name...?

But don't think that there are prongs or baskets with Tiffany's name, only their quality is stamped on those (which many jewelers can NOT copy), but the band carries the Tiffany's symbol alone. Good luck and let us know how it all works out!----------------

Nicrez,

I think she meant that they are putting new prongs on the Ring that has the Tiffany stamp, Not prongs with the Tiffany stamp.
Atleast that how I read it.

 

[ambenj]

What i am saying is that ring says Tiffany. the prongs are being replaced- but the ring will still say tiffany.