Tiffany's E-Ring Upgrade Policy???

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#17
Hey Black Jade,

From what I understand, the new setting would be cheaper or they would be willing to modify a design for a price. I absolutely love my setting, but it was just something they informed me of re: their vintage pieces. The example they gave me was that a woman inherited a star sapphire ring and didn't like the style of the setting so they were more than happy to build her a new one for her vintage piece, but of course she had to pay for it. I just wanted to let the OP know of this service since she may want to go for the biggest Tiffany diamond she can and upgrade the setting later. Most of their custom rings are $100k+, but if you've had a certain piece for a while and want to reuse Tiffany stones and platinum they'll at least attempt to work with you and it'll be cheaper than a new OOAK ring :)

black jade said:
No offense, I see no problem with wanting a Tiffany ring and do not want to re-open the endless Tiffany vs. other rings debate. But it seems to me that this upgrade policy is stacked against you badly. When you come in to get the upgrade, they appraise the ring they sold you, usually for less? AND charge a restocking fee? Meaning, they get your original ring cheap and get to resell it at probably more than the original (high) price? AND you have to buy something 2X as expensive to get them to do this?
Am I missing something?
I also don't get the thing about them allowing YOU to pay to change your ring style. They're doing you a favor here? anybody will let you PAY to change something. Or do you actually get some kind of discount which I missed?
Idon't mean to be rude, but I honestly don't get this and I for one would think even harder than usual before planning to buy a ring that I didn't really quite like, expecting to get something I liked more in a few years (sometimes that happens,sometimes it doesn't) when it is such a bad deal in the future.
Click to expand...
 
#18
Ok, thanks for explaining.

Gimmethebag said:
Hey Black Jade,

From what I understand, the new setting would be cheaper or they would be willing to modify a design for a price. I absolutely love my setting, but it was just something they informed me of re: their vintage pieces. The example they gave me was that a woman inherited a star sapphire ring and didn't like the style of the setting so they were more than happy to build her a new one for her vintage piece, but of course she had to pay for it. I just wanted to let the OP know of this service since she may want to go for the biggest Tiffany diamond she can and upgrade the setting later. Most of their custom rings are $100k+, but if you've had a certain piece for a while and want to reuse Tiffany stones and platinum they'll at least attempt to work with you and it'll be cheaper than a new OOAK ring :)
Click to expand...
 
#19
black jade said:
No offense, I see no problem with wanting a Tiffany ring and do not want to re-open the endless Tiffany vs. other rings debate. But it seems to me that this upgrade policy is stacked against you badly. When you come in to get the upgrade, they appraise the ring they sold you, usually for less? AND charge a restocking fee? Meaning, they get your original ring cheap and get to resell it at probably more than the original (high) price? AND you have to buy something 2X as expensive to get them to do this?
Am I missing something?
I also don't get the thing about them allowing YOU to pay to change your ring style. They're doing you a favor here? anybody will let you PAY to change something. Or do you actually get some kind of discount which I missed?
Idon't mean to be rude, but I honestly don't get this and I for one would think even harder than usual before planning to buy a ring that I didn't really quite like, expecting to get something I liked more in a few years (sometimes that happens,sometimes it doesn't) when it is such a bad deal in the future.
Click to expand...
when you return your old ring that you have been wearing for 5 years,
they reappraise it, and yes, take off a few hundred dollars off for usage (considering that they have to take the stone back to the lab, have it repolished, which'll make it smaller, it's understandable.) even so, they do give you back about 94% of the original price of the ring back (that's minus the tax from the time of original purchase.)

then that goes into payment for a new ring, that has to be twice the amount of the original ring (at the time of purchase, no tax) and a few hundred more bucks added for the restocking fee.

as for me, i got married 4 and a half years ago with a 1.5 c f vs2 tiffancy classic setting which cost ...a little over 25k .

then i had it upgraded, yeah!! for a 2.5c same quality, which was little over twice the price. I wore my 1.5c carefully and didn't have much damage, so i got about 96% of the original price back, which was good.

So if you're thinking of upgrading, I think it's a good deal. they take your worn ring back.

My friend who got married around the same time with a similar size gia cert ring wanted to have hers upgraded to a 3carat on her 5 year anniversary, but most jewelers refused to give her more than 70% of what she had paid 5 years ago.
So she decided not to trade in and keep the 1.5 and turn it into a necklace,
and just bought a 3 carat ring with cash.

Since we don't have as much cash lying around, being able to trade in the original ring at a good price was a real saver.

plus, i buy little accessories and gifts all the time at the store we go to, so the sA actually didn't charge us the restocking fee, which was a few hundred bucks.

I say, it's a pretty good deal.

and the new, bigger!!! ring sparkles like crazy.
 
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#20
Just wanted to share my experience too, though I didnt technically "upgrade".

I got engaged in November 2010 with a 1.6 carat classic setting. My then-fiancé asked if I was happy with the size, and though I wished for a little bigger diamond, I didn't have the heart to say anything.

Fast forward to April 2011 and we are picking out our wedding rings at Tiffany. I wanted the 3 mm shared setting ring, but the SA, fiancé, and I all thought it was too large for my e-ring. We agreed that the 3 mm looks best with a 2 + carat e-ring. The SA then told me that she I could exchange my 1.6 carat for something bigger, which in had not realized was an option. Fiancé was happy to do so, so I ended up getting a 2.1 carat. It's exactly the size I wanted!

So, long story short, Tiffany allowed me to exchange my 5-month old ring (of course, it was in perfect condition) for a bigger ring. No restocking fee. I do think they were willing to do it because we spent a good amount on our wedding bands and on the bigger stone, though nowhere near twice as much. I was very happy with our experience overall.
 
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#21
Leaf said:
Just wanted to share my experience too, though I didnt technically "upgrade".

I got engaged in November 2010 with a 1.6 carat classic setting. My then-fiancé asked if I was happy with the size, and though I wished for a little bigger diamond, I didn't have the heart to say anything.

Fast forward to April 2011 and we are picking out our wedding rings at Tiffany. I wanted the 3 mm shared setting ring, but the SA, fiancé, and I all thought it was too large for my e-ring. We agreed that the 3 mm looks best with a 2 + carat e-ring. The SA then told me that she I could exchange my 1.6 carat for something bigger, which in had not realized was an option. Fiancé was happy to do so, so I ended up getting a 2.1 carat. It's exactly the size I wanted!

So, long story short, Tiffany allowed me to exchange my 5-month old ring (of course, it was in perfect condition) for a bigger ring. No restocking fee. I do think they were willing to do it because we spent a good amount on our wedding bands and on the bigger stone, though nowhere near twice as much. I was very happy with our experience overall.
Click to expand...

Wow, great service!
 
#22
This is an old thread but I'll post my experience for the record. Got a classic 6-prong solitaire 1.33ct H VS1 for $16,100 in February 2007. Went back in December 2010 and upgraded to a 2.44ct E VS1 which was way more than 2x the original item. They gave me $15,600 (so $500 less than purchase price) for my ring and, I believe, subtracted this number from the price of the second ring before charging tax. They claimed the $500 was the cost of the platinum and that the upgrade was only available for the diamond (although they kept the platinum setting) but since it was still 97% of what we had paid I didn't complain. In my mind it was like leasing the original ring for 3.5 years for $500. Not bad.

It was an easy experience and we got great service including champagne viewings, free his and hers passport covers and free his and hers luggage tags which was very nice. I highly recommend Tiffany engagement rings and their upgrade policy. Heres hoping they'll make an exception and allow me a second upgrade in a couple of years... :graucho:
 
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#24
I upgraded my solitaire for size earlier this year through Tiffany and my experience was exactly as the others posted. We did this within the 5 year time limit, but I did ask in advance if this was routinely adhered to. The SA mentioned that this could be waived by the store manager, and shouldn't be a problem. I'll bet they'd let you do a second upgrade as well, especially if you are a regular customer.
 
#25
I know everyone loves Tiffany. And i myself have a decent amount of their jewelry, however, i am really surprised by what i feel is a less than par trade in policy. I do understand how they believe in "forever" so it's like they encourage you to buy one ring and keep it forever. But sometimes you just wanna be in love and young and get married, and then as you establish yourselves and grow maybe you want a more substantial ring. I know of an independant jeweler who has gorgeous diamonds and hundreds of settings. And their trade policy is you just have to spend $1 more on the new stone. And it can be any stone they carry, diamond, ruby, sapphire. And you can trade whenever for however long you want. You can buy just the stone if you want, have it set by anyone, and still trade it in for a stone that is $1 more. And if they set it, you can trade the setting in on any purchase that is double the price of the setting. However, you can also choose the setting credit to be either the price you paid when you bought it or the current value. You can use whichever works best for the new item you want to buy. And you can even trade a setting or a pendant for earrings or a solitaire, whatever you want. Now personally, i would much prefer that type of service and policy than a Tiffany ring.
 
#26
I have a similar experience. I purchased a classic setting for myself as a birthday gift in Feb,2010. At the time of purchase, my SA mentioned that I can have a one time upgrade at anytime ( He didnt say the upgrade have to be done within 5 years) Few months later, I thought the one I've bought is quite small, and I went back to the store and asked for an upgrade. The SA who helped me before said he could do an exchange for me, the new ring didnt need to be 2x value of the original one. He gave me full credit on the first ring and no restocking fee. After I bought the second ring, he sent me a thankyou card! I am really impressed.

Leaf said:
Just wanted to share my experience too, though I didnt technically "upgrade".

I got engaged in November 2010 with a 1.6 carat classic setting. My then-fiancé asked if I was happy with the size, and though I wished for a little bigger diamond, I didn't have the heart to say anything.

Fast forward to April 2011 and we are picking out our wedding rings at Tiffany. I wanted the 3 mm shared setting ring, but the SA, fiancé, and I all thought it was too large for my e-ring. We agreed that the 3 mm looks best with a 2 + carat e-ring. The SA then told me that she I could exchange my 1.6 carat for something bigger, which in had not realized was an option. Fiancé was happy to do so, so I ended up getting a 2.1 carat. It's exactly the size I wanted!

So, long story short, Tiffany allowed me to exchange my 5-month old ring (of course, it was in perfect condition) for a bigger ring. No restocking fee. I do think they were willing to do it because we spent a good amount on our wedding bands and on the bigger stone, though nowhere near twice as much. I was very happy with our experience overall.
Click to expand...
 
#27
chanelluver101 said:
when you return your old ring that you have been wearing for 5 years,
they reappraise it, and yes, take off a few hundred dollars off for usage (considering that they have to take the stone back to the lab, have it repolished, which'll make it smaller, it's understandable.) even so, they do give you back about 94% of the original price of the ring back (that's minus the tax from the time of original purchase.)

then that goes into payment for a new ring, that has to be twice the amount of the original ring (at the time of purchase, no tax) and a few hundred more bucks added for the restocking fee.

as for me, i got married 4 and a half years ago with a 1.5 c f vs2 tiffancy classic setting which cost ...a little over 25k .

then i had it upgraded, yeah!! for a 2.5c same quality, which was little over twice the price. I wore my 1.5c carefully and didn't have much damage, so i got about 96% of the original price back, which was good.

So if you're thinking of upgrading, I think it's a good deal. they take your worn ring back.

My friend who got married around the same time with a similar size gia cert ring wanted to have hers upgraded to a 3carat on her 5 year anniversary, but most jewelers refused to give her more than 70% of what she had paid 5 years ago.
So she decided not to trade in and keep the 1.5 and turn it into a necklace,
and just bought a 3 carat ring with cash.

Since we don't have as much cash lying around, being able to trade in the original ring at a good price was a real saver.

plus, i buy little accessories and gifts all the time at the store we go to, so the sA actually didn't charge us the restocking fee, which was a few hundred bucks.

I say, it's a pretty good deal.

and the new, bigger!!! ring sparkles like crazy.
Click to expand...

I've just found this post quoted in E-ring thread. I believe The Classic Solitiare of 2.5 caratｓ（I/SI1) stars more than $40,000.　　F/VS2 2.5 carats for ~$50,000 was too amazing!!!
 
#29
einseine said:
I've just found this post quoted in E-ring thread. I believe The Classic Solitiare of 2.5 caratｓ（I/SI1) stars more than $40,000.　　F/VS2 2.5 carats for ~$50,000 was too amazing!!!
Click to expand...
I never wrote this post- but it's in my name! so what the!!!
I'm leaning strongly toward one of my coworkers leaping into my office and doing this- hopefully, she didn't purposefully use my id.... hmmhmm!!

I really have no idea which of them did it tho- cuz I have about five friendly coworkers at work who drop by my office to chat and stuff...

and none!! of them have a 2.5 carat Tiffany ring! so this is a mystery!!:faint:
 
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