As one of the most popular luxury jewelry brands, Tiffany and Co. are loved for their impeccable craftsmanship. It’s best known for its diamond and sterling silver pieces.
From engagement rings to neckpieces, there is a choice for anyone and any occasion. The question that most people wonder, however, is why their sterling silver pieces are so expensive.
Sterling silver may be one of the precious metals, but it is incredibly cheap and readily available compared to others like gold or platinum. One would therefore expect that jewelry pieces made of silver, wouldn’t have the price tag placed on Tiffany’s piece.
In this post, we are going to tackle some of the reasons that explain why Tiffany’s sterling silver is so expensive.
Why Is Tiffany Sterling Silver So Expensive?
Despite sterling silver is an affordable metal to acquire, the following are some of the reasons we believe explain why Tiffany and Co.’s silver jewelry have high price tags:
1. High-Quality Material Used.
When you hold a sterling silver piece from Tiffany and Co. and find that it is lighter than expected, that piece is most definitely a counterfeit.
Tiffany and Co. pride themselves in their craftsmanship. It goes to great lengths to ensure only the best materials are used in their pieces.
Not only is the silver used high quality and heavy, but it is also plated with rhodium to prevent it from tarnishing. As you may know, rhodium is three times the price of platinum, which is already a very expensive precious metal.
It is also worth noting that Sterling silver isn’t the only material used in their pieces. The pieces are also fitted with the highest quality diamond or gemstone with the best clarity, cut, and color.
So, while silver may be an inexpensive metal, high-quality diamonds and gemstones are quite costly. That cost will factor in the overall price of the entire silver piece.
2. Highly- Skilled Craftmanship.
Aside from selecting the best materials, Tiffany also puts a lot of time and effort into designing and creating the best pieces that their customers are bound to love.
The aim is to ensure each of their pieces stands out as much as possible. Given the attention to detail, some say that one piece can even take up to 50 hours to perfect.
That is why Tiffany has a team of highly skilled artisans, most of whom have over 50 years of experience.
Such skill and effort put into creating are not cheap. So, aside from the price of the silver used in making the piece, one must factor in the cost of labor used to produce it. That explains why their silver pieces are so expensive.
3. Luxury Brand.
Everything about the Tiffany and Co. brand exudes luxury. From the moment you walk into one of the five-story flagship stores, to their exquisite jewelry pieces to their trademark blue box packaging. Aside from ensuring that each piece is uniquely and perfectly crafted, Tiffany also invests in the experience their customers get from buying from them.
That luxury experience also comes at a cost. When buying a Tiffany silver piece, therefore, you’re not just buying the piece, you’re also buying the brand as well as the experience.
That experience increases the desirability of Tiffany pieces and justifies the high pricing.
4. Associations With High-Profile Events and Celebrities.
If you’ve noticed, there aren’t many existing Tiffany stores around the world, yet the brand is known and loved worldwide.
That’s because instead of investing in stores, Tiffany instead invested in having their jewelry displayed in glamorous events like the Oscars and the Academy Awards. You may have often seen Hollywood A-listers like Lupita Nyongo, Ann Hathaway, Kate Winslet, and Lady Gaga.
Aside from the red carpet, Tiffany’s silver pieces are also displayed in sports events like the Super Bowl and the NBA. The trophies you see the winners lifting in such events are made by Tiffany.
Their association with such prestigious events and personalities increases its outlook as a classy and luxurious brand. It also increases the desirability and demand for its pieces. This in turn results in and justifies its high pricing, since fame also comes at a cost.
5. Clean History and Reputation.
Tiffany has been operating for over a century now. Since the creation of its first iconic engagement ring, the brand’s standards and quality have never gone down at any point.
Tiffany and Co. make a point of delivering the same high quality with each new piece they produce.
This consistency has built a good reputation for the brand and trust among its customers.
As such one would be willing to pay the price for a Tiffany piece, because they are sure of the worth, they are getting. This clean reputation also increases the desirability of the Tiffany pieces and justifies its pricing.
Although silver is an affordable metal to use when making jewelry, a lot more goes into making a Tiffany and Co. silver piece.
To understand Tiffany’s price tag, you must factor in the cost of material, labor, and the fact that it’s a prestigious brand with a stellar reputation.
So, the next time you consider buying a silver piece from Tiffany, remember the price tag includes more than just the materials used to make the piece.
Tiger is a fashion&jewelry lover. He is also a fashion jewelry manufacturer that help thousands of small business to grow and also do business with some big fashion jewelry brands. He is a truly metal expert and he will share some information you are looking for.