Tiffany & Company price premium

[Pandamonium]

EDIT
I realize I can always go local. I realize there are online vendors that others (not I) trust. I realize buying from Tiffany is a "ripoff." The main question, which everyone has avoided answering, is: how much of a "ripoff" is buying from Tiffany?

I know you're trying to help when you suggest other retailers, but that really isn't relevant to my question. All I'm trying to figure out is the value of Tiffany branding. I was hoping a sample pulled from a non-jewelry forum would give me the most unbiased answer.
/EDIT



The older threads either a) aren't asking this question or b) deviated from the original question

I'm only looking at round cuts, but....
1) Has anyone here (or a significant other) actually calculated the price delta for Tiffany engagement rings vs. other national jewelers? i.e.: what is the approximate value of the Tiffany branding, all else being equal?
2) What about Tiffany pricing at one store to another location? I would think that pricing should be constant across all storefronts, but regional cost of living could be a factor for pricing.
3) I've read that some jewelers expect haggling, and others don't. What's the rule of thumb for when you're supposed to haggle?


Backstory:
I went to a Tiffany store and was shown a few rings (they were $12-16k, which is significantly beyond my current means). Since I just wanted to gauge pricing, I didn't bother to write down/take note of the clarity, color, or carat weight. I went to a Shane & Co earlier today and found a good stone for about $5.5k+Pt band=$6.2k. (.9Ct, VS1, F) If my area Tiffany weren't so far away, I'd check them out to find a similar stone and see what pricing I get. Has anyone done this?



PS: I know I would be paying for the brand. I just want to know how much would be going into the brand. ie: If the little blue box is costing me an extra $5k, I'm not so sure I would it. If it's an extra $1k or so, I'd do it in a heartbeat. I don't plan on this being the only piece of jewelry I purchase, and I do plan on an upgrade of sorts. When I have the means, I want to upgrade the stone and keep the band, so the whole Tiffany "aura" might be worthwhile.

 

[WW]

diamonds are always a ripoff, Tiffany is a super ripoff. Save on the brand name, by her a nice one carat with a certificate from somewhere.

Here's a place that has a diamond search engine, just to compare prices. Note that the cut of the diamond is also very important.

http://tinyurl.com/y87dh2

I bought a 1 carat diamond from these guys 10 years ago....it was locally appraised for 25% more than I paid, looks great. I went with an E color.

 

[aphex]

http://www.bluenile.com

 

[mugs]

You're paying for the box at Tiffany's. Don't be a sucker.

There's a member here who used to work in the diamond industry, he could give you good advice... Can't remember his name but maybe someone else does - dijobi or something like that. He just got married.

 

[shortspanishguy]

www.diamondtalk.com

 

[sponge008]

Don't get a diamond.
http://www.straightdope.com/columns/040903.html
http://www.theatlantic.com/doc/198202/diamond

 

[Pandamonium]

I don't feel comfortable buying a diamond online. I also don't care about artificial inflation, because the diamond cartel will do all it can to maintain the status quo.

So can anyone approximately quantify the price premium? Or price variation between Tiffany B&Ms?

 

[Pandamonium]

Anyone?

 

[WhiteKnight]

Originally posted by: shortspanishguy
www.diamondtalk.com

FTW

 

[jpeyton]

Jesus, just look in your phonebook for some local jewelers. Most can create quality pieces equal to or better in quality than Tiffanys, for a much lower price.

Get an AGS or GIA certificate for any $3k+ diamond before you purchase it. In house laboratories are not preferred.

Shaneco is not a local jeweler. They are a huge chain. Local means a small privately-run jeweler.

And $5.5k for a .9 carat VS1 F stone is a bit much...that's probably a $4k stone.

 

[Lola]

i am a very girly woman, and i love tiffany anything, but you would be nuts to buy an engagement ring there. get a bigger diamond at a local shop or bluenile if you are going to spend so much money.

 

[krunchykrome]

KarenMarie knows quite a bit about engagement rings

 

[Pandamonium]

I realize I can always go local. I realize there are online vendors that others (not I) trust. I realize buying from Tiffany is a "ripoff." The main question, which everyone has avoided answering, is: how much of a "ripoff" is buying from Tiffany?

I know you're trying to help when you suggest other retailers, but that really isn't relevant to my question. All I'm trying to figure out is the value of Tiffany branding. I was hoping a sample pulled from a non-jewelry forum would give me the most unbiased answer.

 

[madman300]

I believe Tiffany's starts with their lowest quality diamonds being about a VS1 color G,


A 1 ct from Tiffany's at their worst quality will cost around $8500. I think you can get the same for about $5500 at a store with decent prices.

Hope this helps.

BTW: (You may not want this advice, but I would take the time to actually look and learn about diamonds. View as many stones as you can. You will notice exactly which attributes are worth paying for and which arent.)

 

[Pandamonium]

Thanks madman300. That's exactly the kind of answer I was looking for. I've checked some stones out and my priorities are cut, carat, color, and then clarity. I can see color and clarity differences easily when the stones aren't mounted, but after mounting, it's mainly the cut and size.

The thing is that if I'm planning on upgrading the stone later, the Tiffany brand on band be worthwhile. For a $3k price premium, I think I'll probably go with them. I don't really care for the "best diamond for my buck" factor- I care about the response I'll get from her more than anything. Another reason is that girls talk. Sometimes it feels good to be envied, and if her friends envy her having a guy like me, then that $3k may be well worth it. The in-laws will like me more too, so the "rip off" might be worth it to some.

 

[Mill]

Originally posted by: aphex
http://www.bluenile.com

Tis where I just bought the diamond for my fiance's ring. I got a great diamond for WAY cheaper than the local stores.

 

[Mill]

Originally posted by: Pandamonium
Thanks madman300. That's exactly the kind of answer I was looking for. I've checked some stones out and my priorities are cut, carat, color, and then clarity. I can see color and clarity differences easily when the stones aren't mounted, but after mounting, it's mainly the cut and size.

The thing is that if I'm planning on upgrading the stone later, the Tiffany brand on band be worthwhile. For a $3k price premium, I think I'll probably go with them. I don't really care for the "best diamond for my buck" factor- I care about the response I'll get from her more than anything. Another reason is that girls talk. Sometimes it feels good to be envied, and if her friends envy her having a guy like me, then that $3k may be well worth it. The in-laws will like me more too, so the "rip off" might be worth it to some.

The name is not worth the extra price. Period.

 

[kranky]

Originally posted by: Pandamonium
If the little blue box is costing me an extra $5k, I'm not so sure I would it. If it's an extra $1k or so, I'd do it in a heartbeat.

This astounds me. A thousand dollars for a box.

 

[Lola]

Originally posted by: Pandamonium
Thanks madman300. That's exactly the kind of answer I was looking for. I've checked some stones out and my priorities are cut, carat, color, and then clarity. I can see color and clarity differences easily when the stones aren't mounted, but after mounting, it's mainly the cut and size.

The thing is that if I'm planning on upgrading the stone later, the Tiffany brand on band be worthwhile. For a $3k price premium, I think I'll probably go with them. I don't really care for the "best diamond for my buck" factor- I care about the response I'll get from her more than anything. Another reason is that girls talk. Sometimes it feels good to be envied, and if her friends envy her having a guy like me, then that $3k may be well worth it. The in-laws will like me more too, so the "rip off" might be worth it to some.

The thing is, even if there is a little "tiffanys" on/in the band, a larger good stone will get more "oohhhs" and "ahhhhhs" than a smaller one.
Just my opinion.

 

[lastig21]

When I was in the engagement ring market last year, I also considered going the Tiffany route but couldn't justify the cost. I met with a diamond wholesaler that sales diamonds to the local Tiffany store for custom jewelry or customers that want an upgrade in a hurry. She admitted that she places a substantial markup for them compared to her normal wholesale price, and believes Tiffany then almost doubles that price for their customers. Their normal prices are high, but don't ask for anything custom.

I ended up buying a ring from whiteflash. The quality is far superior then any other place I looked, and their service was top notch. I met with Brian Gavin (their diamond cutter) who showed me several stones and gave his honest opinions on each. I highly recommend them. I have also heard great things about Good Old Gold out of New York. It might be worth a day trip there (if you don't want to order with their eyes) and see what they can do for you.

 

[40Hands]

God I hate the whole idea that some women expect a super expensive trinket just for "oohhhs and ahhhhs".

I will be buying something cheaper and going on a sweet vacation! If she doesn't like it then she will deal or she wasn't the right one.

 

[blackdogdeek]

i got my wife's engagement ring from tiffany's. she loved it. it was a joy shopping there. so much so, we got our wedding bands there. we've also had her ring resized twice free of charge and had free cleanings and polishings.

the salesman was extremely professional and informed me that had my wife not liked the ring style or the stone cut or anything i could bring the ring back and they would work with us to find something she did like.

 

[Descartes]

My fiance isn't originally from the US, so Tiffany carries very little meaning for her. She's very casual about the ring situation, so we're taking our time to find the right setting. Going with a 1.5ct, pear cut, E color, VS1 clarity, GIA certified diamond in a platinum setting.

 

[crystal]

I was going to recommend that you should read and education yourself about diamond from diamondtalk and/or pricescope. Join their forum and ask some questions. After you learn as much as you can, you should check out some of the online vendors like bluenile, whiteflash, goodoldgold, etc. But you seem to set your mind on Tiffany. Don't know about other, but I know for sure whiteflash got a lifetime trade up. BTW, go for AGS or GIA.

 

[mugs]

Originally posted by: Pandamonium
Thanks madman300. That's exactly the kind of answer I was looking for. I've checked some stones out and my priorities are cut, carat, color, and then clarity. I can see color and clarity differences easily when the stones aren't mounted, but after mounting, it's mainly the cut and size.

The thing is that if I'm planning on upgrading the stone later, the Tiffany brand on band be worthwhile. For a $3k price premium, I think I'll probably go with them. I don't really care for the "best diamond for my buck" factor- I care about the response I'll get from her more than anything. Another reason is that girls talk. Sometimes it feels good to be envied, and if her friends envy her having a guy like me, then that $3k may be well worth it. The in-laws will like me more too, so the "rip off" might be worth it to some.

There's one born every day.

Good luck.