I wanted to purchase the Victoria Plat diamond 1.62ct Large earrings last year, March 2021. In March 2021, the earrings were $11,800. Today, I checked Tiffany.com and the same earrings are $21,300!!!!
Tiffany Price Increase thread *please include location*
- Thread starter harleyNemma
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I can only agree to the previous posts. The price increase is crazy and totally not justifiable from the customers point of view. With some pieces the step made is just to huge. To add another example: the bone cuff in gold has been approx. 13k in Europe, now its 15k. 2K as a step from December 2021 to Feb 2022 is just too much
just to give you an update: louis Vuitton announced today that they gonna raise the prices between 4 and 18 % on their items...
I think I'm officially done with Tiffany. For the amount they're charging I'd rather have VCA or recently discovered, Chanel fine jewellery. No idea what they're thinking but compared to everything else available at a similar price point, I feel that Tiffany is rather "meh" these days.
does tiffany have good resale value? regardless, most people i know buy their piece to enjoy, not to re-sell. if a piece retains value, that should be a bonus. companies incentivizing resellers to profit off their products is gross. not good customer service.
Tbh, most luxury jewelry don't have great resale value. Tiffany silver pieces can drop in price quite a bit. Also, unfortunately, while their pieces are cute, unless they are very simple and timeless like a solitaire diamond necklace, they are not as popular as other brands like Cartier and VCA, and their fine jewelry probably doesn't hold as well because they are not as coveted.
Check out these platinum diamond Tiffany earrings on Fashionphile, in "excellent" condition but already a 15% price drop. https://www.fashionphile.com/p/tiffany-platinum-diamond-aria-earrings-961595
Even Cartier pre-loved jewelry looses about 10-15% of it's value on the resale market for the love bracelets, depending on how much they are worn. You can find a "very good" condition Cartier regular love bracelet on Fashiophile easily with a 15% loss. https://www.fashionphile.com/p/cartier-18k-pink-gold-love-bracelet-16-885674
If you think 15% isn't that bad, remember:
1) that consignment takes a good chuck out of the sale, 20-30% depending on their policies, leaving the original seller with even less.
2) And since fine jewelry cost so much in the first place, 15% can start off as a $1000 loss or more.
A couple of reasons why the value drops for resale:
1) Everyone knows prices of designer fine jewelry is hiked up way more than what the real material actually costs, and most people are not willing to pay full price.
2) No one likes scratches on shiny jewelry, any kind of wear is relatively easy to see and drops the value significantly.
This is why I and many other ppl, will just buy fine jewelry for ourselves and not re-sell. Tbh, I'd rather give mine away as a gift than re-sell.
To me it seems silly buying something in the hopes of reselling it... Just buy stuff you like, that will have a good value for YOU. I couldn't imagine parting with my cartier love bracelets, or wedding band for example
All of the Victoria diamond earrings & necklace went up by like 1.3-2k, just like that. I bought the necklace and earrings in medium in Dec 2021, so I'm a bit shocked at the large price increase just a few months later. I'm now wondering who they think their target customers are?
I've always dreamed of owning a few diamond Tiffany pieces when I was in younger, now that I'm finally in a place where I can buy a couple of pieces. About 10 years ago Tiffany was expensive but not crazy expensive, now it's going to a point where it's getting ridiculously expensive...
If they keep increasing with such large price jumps at this rate and frequency, who's going to buy it? At a certain point it's just going to be out of reach for many.
I've always dreamed of owning a few diamond Tiffany pieces when I was in younger, now that I'm finally in a place where I can buy a couple of pieces. About 10 years ago Tiffany was expensive but not crazy expensive, now it's going to a point where it's getting ridiculously expensive...
If they keep increasing with such large price jumps at this rate and frequency, who's going to buy it? At a certain point it's just going to be out of reach for many.
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I saw on another thread in Oct 2020 by someone mentioning the large Victoria earrings just had an increase from $17k to $19k - this was in end 2020. I would be very upset if it was $11.8k and jumped to $21.3k!
I think that's the point. They don't want merely well-to-do people buying their products. If you think a brand is trying to push you out... Well that's because they probably are
Yes, I was looking at something else today online and noticed a huge price increase in the Victoria earrings I got for Christmas 2021. The less said about the increase since I got a Victoria ring Christmas 2019 the better. The earrings IMO were already overpriced in December, but although the ring has gone up even more I still think it's a fair-ish price and wouldn't stop me from purchasing again. Would definitely not buy the earrings at current price. (DH picks and buys almost all my jewelry so this is theoretical, but I think I'd veto the earrings at current price. They were kind of questionable at the old price TBH)
I don't like giving out financial information on a semi-public forum, but I do have to wonder what the line for merely-well-to-do is with some of these brands. Bluntly, I am comfortably in the %1 by any measure, although probably not the %.01, so maybe that is who they're aiming for. Nevertheless, I still don't like to waste my money. I don't mind paying almost anything for something I perceive to be "worth" it, but mass produced Tiffany jewelry or Chanel bags just... aren' t and raising your prices and making me wait on line or whatever is not going to convince me they are, just to continue focusing my spending elsewhere.