Diamonds are generally quite expensive and everyone is well aware of this. Tiffany diamonds are so-called because they are specially selected and set into exquisite ring designs.
They are world renown for their iconic engagement rings that are every bride’s dream. However, they do cost a pretty penny, and it is curious why Tiffany diamonds are so expensive.
Since 1837, Tiffany jewelry is a registered business dealing in the trade and designing of diamond jewelry.
They rose to popularity with the unveiling of a classic engagement ring that saw them plant their talented expressions on the jewelry map.
Why Are Tiffany Diamonds So Expensive?
Tiffany diamonds are lauded as the most carefully selected and audited diamonds in the market. Their metal is made exclusively of 925 sterling silver which matches the shimmer and shine of the diamond crystal.
However, Tiffany diamonds are about way more than just crystals and metal stacked upon each other. Buying a Tiffany diamond means you are buying a piece of the second most powerful jewelry brand in the world with about 180 years in expertise.
For a brand such as Tiffany, the name is everything. Presentation and execution have to be exact and to perfection. The shine and brilliance of the diamond crystal have to be just right. They take every painstaking effort to maintain the image that everybody holds of the company.
This means that Tiffany spends a huge part of its budget creating awareness of their brand, making their presence felt, and leaving a lasting impression in the minds of the market. Their brand is all about style, fashion, elegance, class, sophistication, affluence, and exclusivity.
What Makes Tiffany & Co. Stand out?
Tiffany and Co. were first recognized in the jewelry industry when they introduced their version of a six-pronged diamond setting that locks the crystal in place while still giving it some light exposure. This ring was dubbed the Heart Lock ring and it featured two padlocks formed into a heart shape and with some metallic keys to unlock them.
Their genius innovation, a first in the jewelry world, was well-received across the market by both manufacturers and more so by the customers. To date, this is their biggest seller both because of the sentimental message it carries and also because of its originality.
This ring setting is infamously used across the globe by designers and manufacturers and is now referred to as the Tiffany setting. This style is represented by a solitaire diamond crystal set in six prongs on the metal of choice.
Following strict ethics in their business operations, Tiffany Diamonds only buys from select diamond suppliers across the globe. They assure us of having carried out background checks on the diamond mining facilities and the working conditions present.
Tiffany jewelers try to be as ethical as they can in their dealings and operations and would never want to compromise their established brand name by associating themselves with conflict-ridden diamonds.
Tiffany diamonds are said to procure their diamonds from parties in different nationalities such as Botswana, Namibia, Sierra Leonne, Australia, and Russia.
Part of the profits that Tiffany makes goes to funding sustainable mining policies and practices with an aim to raise the standards of living for the local communities within the mining facilities.
Known as a proactive go-getter, Tiffany established its own Gemological Laboratory in New York City, which according to them maintains higher standards than the internationally recognized and independent association, the GIA (Gemological Institute of America).
Tiffany believes so much in their diamonds superior cut and quality and for this reason, they will not display diamond items from any other jeweler even if their pieces are GIA certified. I don’t know how anyone can express pride in their brand any other way.
At This Expense, Do Tiffany Diamonds Have a Resale Value?
As you carry out your investigation and research on the best diamond ring in the market, you may wonder how else you could benefit from this purchase. Many people buy diamonds because they are forever and they can be resold.
Though this may be true, the resale value may pale in comparison to what you had in mind. Though Tiffany diamonds are certified and they come with the grading report on your ring, you may need to buy a 1-carat or larger diamond to see some worthwhile return on investment.
Tiffany does not directly include itself in the hectic mining details or in processing the raw diamond crystals.
Tiffany however steps in firmly in the selection and evaluation process of diamonds that they present on their platform. Their specific objective is to make sure that they provide their clients with the best cut and most clear diamonds the world has ever seen.
It’s a bit disappointing that Tiffany will not offer to buy back your diamond ring when you want to resell it but you can be assured that your diamond is of unique and great quality meaning you will get a buyer and a somewhat fair return of investment.
All this, however, is dependent on the diamond market at the time.
This shouldn’t keep you from purchasing a Tiffany diamond as they do have their own certificate of Excellence that has been recognized by gemological institutes and other jewelry manufacturers.
Tiffany diamonds are a forever favorite and many people would be pleased to buy an old ring that is in great condition at a discounted price.
Expect to sell it at half or 40% of the price you bought it for and this has nothing to do with Tiffany diamonds specifically and everything to do with the erratic diamond market.
Are Tiffany Diamond Rings Overpriced?
Tiffany rings are masterpieces created by the top of the notch jewelry experts and designers. They have close to 200 years of experience in diamond trading and customization.
Their collection boasts of classic and timeless diamond rings delicately packaged in their trademark little blue box.
Their labs and proactive self-evaluation processes that are certified by the GIA, prove that Tiffany is more than just about the diamond.
Knowing that you are buying an exquisite one-of-a-kind ring would put a skip in your step and Tiffany does not bargain on their quality.
Putting all things into consideration, one would say that though a little bit on the high end, buying a diamond from Tiffany is an experience in itself.
As a client who appreciates a touch of class, personalized treatment, and genuine customer service, I’d say you get exactly what you pay for by purchasing Tiffany diamond rings.
Is It Worth Buying a Tiffany Engagement Ring?
As long as you are not going to cripple yourself financially, buying a Tiffany engagement ring is well worth it.
Cost of the ring aside, you will have in your possession a gem like no other in the market. So, if exclusivity is your thing, then Tiffany is the brand for you.
However, Tiffany diamonds are strictly set on 925 sterling silver metal which is quite shiny to look at but it needs regular cleaning to maintain this luster.
Also, this metal is prone to scratches, dents, and eventually tarnishing.
This sadly means that, though the diamond may outlive you, the metal part may fall apart in a matter of years especially with daily wear.
Maybe that’s where proper care and storage of your ring comes in handy. Such an exquisite and valuable piece of jewelry should not be worn on a daily basis anyway.
Now we understand that Tiffany diamonds are valued on more than the quality and brilliance of the diamond.
It is clear that Tiffany takes great pride in its achieved status at the top of the jewelry food chain and has no intention of ever coming down.
A brand that well established and one with a consistent track record of exclusivity and elegance deserves to charge every penny for their priceless genius.