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What Do You Think Of This Price At Tiffany?


TiffanyEngagementRing
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1.22 Ct

VS1

I

Round

 

I dont have the certificate yet as its being mailed still but I think Tiffany only does Very Good cuts and higher, so lets assume the lowest and say it's very good. I read in a Tiffany brochure as well that alludes to Tiffany diamonds only being Excellent cuts too.

 

For $11,000

 

Also, has anyone else heard that Tiffany engagement ring prices are the lowest its been in a while currently until 2009 comes?

 

Also, hello everyone!

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Hang on a minute. Tiffany sets its own prices, and these are by and large constant across any one country. If you got the price from them, why should it be any more or less than what one would expect?

 

Now - if we start a comparison with other available stones/rings, would I expect Tiffany's premium to be between 70 and 100%? Yes, I probably would. Quite frankly, if you are prepared to pay this kind of premium for the brand, why are you worried about the few $100s that there may exist between one Tiffany store and another? You are leaving on the table several $1000s by deciding to go with Tiffany.

 

There is evidence of price cuts all over the place; given the collapse in the economy and commodity prices, it's not unlikely that Tiffany is also somewhat involved in price cuts. If this is the case, I very much doubt this is going to magically end on 31 December 2008. Don't be rushed in by "this special offer ends tomorrow" pressure tactics; not for $10k+, not now.

 

Finally - on the cut. Beware of what you read on marketing materials - they are not meant to be unbiased advice for consumers. GIA and AGS's cut grading systems, with all their flaws and problems, are at least administered by relatively impartial third parties; however Tiffany does not use an external lab for what they consider to be "small" stones, so any cut grade you are likely to see is determined by Tiffany themselves.

 

Which is not to say that you are likely to find a poorly cut diamond at Tiffany, but I would not trust their word about all of their stones being cut to the absolutely highest standards possible. To start with, that would require universal agreement on what is that standard, and this is sorely lacking.

Edited by davidelevi
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oh and one more thing. I am aware of the Tiffany brand premium I am paying for. I'd just like to know if this is more than someone expected from tiffany, less or just on par?

 

I think the only variation you find between Tiffany stores has to do with the differences in sales tax collected in various communities and, of course, minor differences in the stones. The world economy is in uncharted territory and we'll see how 2009 works out but for the last hundred years or so, Tif's hasn't done 'sales' in the sense that they don't post a price and then give a discount at a particular store or for a particular weekend. They charge what they charge and they use the same pricing procedure in every store and for everyone who shops there. Will they lower prices in 2009? Maybe, but I wouldn't bet on it.

 

Neil

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Thanks guys. I actually don't think I was asking the right questions and i can see why it was very unclear. I know Tiffany prices are set across the board. I was just wondering, do you guys think I got ripped off? I have taken into account that I'm paying the premium because it is Tiffany, but I was also told by a friend who works there, that it's a good price for Tiffany because of how they lowered their prices recently.

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Well, ripped off is not a term I would use. However, I would not buy a new Tiffany item because I know I can get the same or better quality for much less by using other people. To me - and it's personal choice either way - the brand assurance and "snob value" of the blue box are not worth 70 to 100% price increase.

 

In terms of it being "a good price" because they lowered their prices, perhaps, but so have others, so the relative price remains very high.

Edited by davidelevi
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It may be a good price for Tiffany, but you can certainly find comparable quality for less money. So unless the Tiffany name is important to you it pays to do additional research.

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Yeah, I was asking about the price in terms of Tiffany. I know it's not comparable and I know that I can get it cheaper elsewhere. I just wanted to know form the standpoint of someone who understands they are paying the premium for the name.

 

I guess i was secretly hoping someone would've said "oh yeah, great deal! I got a ring for nearly the same specs 2 years ago for $4,000 more!"

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OK, perhaps now I understand (sorry - must be too much wine at parties).

 

Let's look at it this way - what goes into making a ring?

 

Until mid-2008 precious metals were on an apparently unstoppable price surge lasting for at least 5 years. Since then, gold has more or less held the level reached, while platinum has collapsed to the same value it was in 2002.

 

Diamonds prices have been on the up consistently for the last five years as well, even though signs of some deflation are already appearing, particularly in large colourless stones (4+)

 

Energy prices ramped up until about six months ago. They have since come down considerably, together with most other commodities - however consumer prices are still rising a little since manufacturers and retailers have smoothed down rises and falls, and particularly consumer prices are very "sticky" going up.

 

Labour costs have increased relatively little over the last 5 years, but they haven't declined. Taxes and other costs have also remained relatively stable, with the possible exception of rentals that have increased substantially until last year.

 

The dollar has weakened against most other currencies over the last three years until five or six months ago, when it has picked up considerably.

 

As noted by Neil, Tiffany does not do sales or special offers. The price is the price.

 

Chances are you have paid as much as anybody else, and probably a little more than most since you have bought just at the point where prices to manufacturers have started to turn down, and it takes time for these to be passed through to the consumer (if they ever are). Sorry.

 

On the other hand, you have what is undoubtedly a nice item which will always be recognised and coveted by many.

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OK, perhaps now I understand (sorry - must be too much wine at parties).

 

Let's look at it this way - what goes into making a ring?

 

Until mid-2008 precious metals were on an apparently unstoppable price surge lasting for at least 5 years. Since then, gold has more or less held the level reached, while platinum has collapsed to the same value it was in 2002.

 

Diamonds prices have been on the up consistently for the last five years as well, even though signs of some deflation are already appearing, particularly in large colourless stones (4+)

 

Energy prices ramped up until about six months ago. They have since come down considerably, together with most other commodities - however consumer prices are still rising a little since manufacturers and retailers have smoothed down rises and falls, and particularly consumer prices are very "sticky" going up.

 

Labour costs have increased relatively little over the last 5 years, but they haven't declined. Taxes and other costs have also remained relatively stable, with the possible exception of rentals that have increased substantially until last year.

 

The dollar has weakened against most other currencies over the last three years until five or six months ago, when it has picked up considerably.

 

As noted by Neil, Tiffany does not do sales or special offers. The price is the price.

 

Chances are you have paid as much as anybody else, and probably a little more than most since you have bought just at the point where prices to manufacturers have started to turn down, and it takes time for these to be passed through to the consumer (if they ever are). Sorry.

 

On the other hand, you have what is undoubtedly a nice item which will always be recognised and coveted by many.

 

Thank you very much David. That's what I was looking for. I guess I'd never get married if I was waiting for the right price rather than the right time.

 

Thanks for giving it to me straight, and even in that bad news, your ending made it all better. And you said the other thing I secretly wanted someone to say, "It's expensive, but she'll friggin love it because it's a quality ring. and THAT, my friend, is priceless. So you got a bargain!"

 

Do I sound like an insecure person? haha

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Young man, I'm of the firmly held opinion that one should marry the right person. Never mind prices or times. Harrumph.

(after all it only took me 24 years to figure it out)

 

:P

 

Oh, and by the way - she WILL love it; no worries about that. As our friends at MasterCard are fond of saying: "priceless".

 

Congratulations on your impending engagement!

Edited by davidelevi
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Congrats on the purchase tiff!

I'd say that the ring itself is going to be responsible for the "Tiffany" look- unless you buy Tiffany's branded cut ( I beleive it's call "Lucida") - let's fact it, one well cut 1.22ct I/VS1 round diamond looks very much like the next

 

What style of ring are you looking at?

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