I bought a Tiffany engagement ring (and later on a channel-set band) for the girl who is now my wife. At the time, Tiffany diamonds could be provided with both Tiffany and GIA certificates although I did not ask for a GIA one and Tiffany guaranteed that they their grading would meet or exceed GIA standards. This seems to be backed up by other parties with no relationship with Tiffany. See
here,
here and
here.
When I was ring shopping – this was about 2010 – the fallout from the GIA bribery scandal of 2005 was still lingering. So whilst the GIA had taken swift action and dismissed the four employees involved, there was certainly damage to their reputation and it did influence my decision, though only slightly.
I wasn't so much looking at luxury brands as brands that had heritage: Mellerio dits Meller, Garrard, Hamilton & Inches, Cartier and Tiffany. One ring I really liked, was this one:
But what really made the choice simple in the end, was that she only had two preferences. She wanted a six-prong Tiffany setting and she did not like a cathedral setting. So that settled it. You could get a six-prong setting just about anywhere, but I knew deep down that it would not have sat well with me if I'd gotten a generic Tiffany setting. She had to have the original. I had to.
I was less than a year into my first job out of university/college, so settled on the best that I could afford on two months' salary at the time. The stone was small (0.32 carat), but it was everything else I could hope for – internally flawless D, graded excellent for cut, symmetry and polish, was a Type IIa (no florescence), no culet and a faceted finish on the girdle. (If you didn't know, faceted or polished is the way to go, don't get a bruted girdle.)
I remember the day I went to ask her dad for permission. He took one look at the ring and said yes.
So here we are, 10 years down the track. She still insists she would have said yes to any ring, but she's also told me that she's never had to think of an "upgrade" since she's not wanted for more. I think there's a certain satisfaction when it comes to owning a luxury product and it's a mindset. I'm the sort of guy that would rather have a small Ducati than a large Harley.