I don't think it's about the customer's actual financial situation anymore. More "normal" people than ever are buying luxury items so the sky is the limit for them. Not really for me to say how much one needs to make to buy XYZ but, well, let's say I constantly find myself surprised by what I see. And then I think "no wonder everyone's raising prices... the marketing's paying off."
Tiffany Price Increase thread *please include location*
- Thread starter harleyNemma
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I don't think it's about the customer's actual financial situation anymore. More "normal" people than ever are buying luxury items so the sky is the limit for them. Not really for me to say how much one needs to make to buy XYZ but, well, let's say I constantly find myself surprised by what I see. And then I think "no wonder everyone's raising prices... the marketing's paying off."
Maybe somebody can help me understand? Sorry if I’m confused about this…is it the case that the Large Victoria earrings were $17-19k in October 2020, then *dropped* to $11.8k in March 2021, then have increased to the current $21.3k in 2022?
The reason I was watching the price was because I chose to have a pair custom made. In March 2021, I thought $11k+ for less than 2CT TCW diamond "flower cluster" earrings was completely absurd. So when I saw the new price this year, I just laughed!! I would have been totally heartbroken if I was planning to buy at $12k and the price doubled in a year's time.
Louis Vuitton (Tiffany's new owner) doesn't want to sell their goods to every price point. They're happy with just 1%ers being able to purchase their goods. Unfortunately, they could care less because they have enough customers who will still purchase at their increased prices. I've been watching silver items at Tiffany as well. Nearly all of the affordable items are gone. They used to have multiple Tiffany keys in silver and now there is ONE! All the Tiffany keys are now in Plat and Gold and full of diamonds most starting around $5k.
I'm sorry, I realized I meant to March 2020 that the price was $11,800.
Thank you for clarifying! This makes more sense for the timeline…and I agree with you completely that 20K would buy some lovely and sizable ideal-cut diamond solitaire studs!
Off topic but I did research and couldn't find any thread that would be more appropriate for this. Apology in advance if this is not allowed or appropriate here either.
I took a necklace to my local tiffany store for repair today. It was not until now 10 hours later that I found out the service order was made to another person instead of me. I have no idea who that person is. I don't understand how this could happen. The first thing the SA who assisted me did was to ask for my phone number so she could pull out of my account in their system. She even verified my name and address. Supposedly she typed and generated the service order from my account, right? I was the only one there. And it is very likely an electronic copy of the service order has already been emailed to that person. She would also get the notice when it's ready and pick it up with no problem at all and leaving me with a loss of necklace that is not cheap. And if she has the service order receipt made to her, I will have problems to prove the whole thing.
I already emailed the store, but it's a customer service email address, not sure when I would get a response if I in fact would get one. It's 5:00am here so I have to wait for another 5 hours for them to open to call anyone.
I took a necklace to my local tiffany store for repair today. It was not until now 10 hours later that I found out the service order was made to another person instead of me. I have no idea who that person is. I don't understand how this could happen. The first thing the SA who assisted me did was to ask for my phone number so she could pull out of my account in their system. She even verified my name and address. Supposedly she typed and generated the service order from my account, right? I was the only one there. And it is very likely an electronic copy of the service order has already been emailed to that person. She would also get the notice when it's ready and pick it up with no problem at all and leaving me with a loss of necklace that is not cheap. And if she has the service order receipt made to her, I will have problems to prove the whole thing.
I already emailed the store, but it's a customer service email address, not sure when I would get a response if I in fact would get one. It's 5:00am here so I have to wait for another 5 hours for them to open to call anyone.
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It was 19k in Oct 2020, it never dropped. And raised to the current price now. 11.8k must be a very old price I suppose.
My SA (Canada) let me know of another increase coming in June. The exact date isn't known yet but it will supposedly be 6%.
Tiffany has a good resale value compared to non-branded jewelry and sterling jewelry.
Non-branded pieces usually lose 90% of their value when the return period ends. Pandora resale is between 70-90% decline. John Hardy and David Yurman lose 70-80% (oddly, I’ve noticed that they lose more value for fine than sterling.)
Tiffany loses 35-70% (inverted the Yurman trend and maintaining more value in the fine) Cartier is between 15-50% (popular collections retain more value) and Van Cleef 5-50% (depending on ephemera and popularity. RdN and rare Alhambra are occasionally worth more than retail.) JAR has historically been worth 3x retail, when it goes to auction. Other brands like Verdura and Belperron are harder to track, because less goes on the market and the prices are not frequently labeled on the internet.
I have the 1.5" Platinum Fleur de Lis key that was purchased a decade ago. Back then I'm pretty sure it cost about 3.9k (USD).
Today, Tiffany has it on their page for 5.4k. I think if I sold it now, I can get back most (if not all) of that 3.9k.
My other pieces from Tiffany are retired, but I know someone that sold their white gold Clover key for more than they paid. I have that key as well. It cost about 1.1k about 10 years ago, and right now it's being sold on ebay for 1,950. Another site has it for 2,194. (There's also one on ebay for 1,335 but I don't believe it's authentic.)
Don't know if they'll sell for those prices, but at the same time I don't think they'll sell for less than the 1.1k I paid either.
So the answer about the resale value depends on how long you've held onto it, and if it's a popular piece.
