Tiffanys Diamond Engagement Ring?
Q.Has anyone here bought an engagement ring from Tiffanys? Are they seriously overpriced or just pricey? I've always been a sucker for brand names and hate the idea that I might be taken advantage of by dishonest diamond wholesalers or diamond district carneys.
A.I bought an engagement ring from Tiffany's and was delighted with the ring, the price, and the service. My fiancee is likewise thrilled. You will pay a lot for the ring, but the ring will actually be worth what you pay. It's just a question of whether you want to (and have the resources to) invest $10,000 and up on a ring. You can get similarly sized diamonds elsewhere for much less-- but not of comparable color and quality. You should get Tiffany's free booklet and video on how to buy a diamond. It does a good job of describing the difference you get from a Tiffany diamond. Then you can decide whether it's worth it for you. You will get excellent quality from Tiffany's but you are also going to pay a lot more for it. You can get the same quality from a reputable diamond dealer/wholesaler for significantly less money. There are a lot of very reputable jewelers and diamond companies that can give you what you're looking for at a good price. Tiffanys offers status, prestige and confidence. Many people are willing to pay extra for that, but many people are also looking for better value. If you are seriously looking to save money, then doing some research and a lot of shopping will get you a better deal (at least 25%) then what you will get at Tiffanys. I doubt that they will allow you to "bargain" their prices. I just bought a great ring and spent alot (too much) time looking, so here are my humble opinions based on the recent (not so pleasant) experience. I thought about Tiffany and came close to buying there, but ultimately invested the time to get the right deal for a comparable diamond and saved about $2500. I'm sure you can get the same diamond for less, probably a lot less, but some of that may depend on the sapphires. I was looking at different diamonds (1.5 round solitaires), but if my experience is a guid you can save as much as $3000, more if you're willing to drop down to VS1. (Unless you're buying for an investment, I don't know why you would pay the big premium to move up from VS1 to VVS2.) Tiffany is overpriced and does in fact charge a fair amount for the blue box -- but the blue box means a bit more than just the box. The thing you get with Tiffany is assurance that your diamond is satisfactory in two departments other than the 4 Cs -- cut proportion and flourescence. The first is very difficult to understand and grasp (although with emerald cuts, unilke rounds, you don't need an advanced calculus degree) and the second is easy to determine as long as you have a certificate. Tiffany demands fairly rigorous (although not as rigorous as you might expect) cut proportions and, I believe, nothing more than faint flourescene. The latter is really important if you're going to buy a D-G diamond (and it sounds like you are). So the thing you get with Tiffany is assurance on two factors that are hard to grasp and which make it very difficult for you to compare with other jewlers or rocks. As to bargaining, in my experience ANYONE in that industry will bargain, even places almost as stuffy as Tiffany. The problem is that to bargin you generally need in hand an offer in writing and you need to convice a place that you're serious about buying a diamond with them to get one. Moreover, because you're thinking of trying to bargain with Tiffany, and they know their cuts are good, you'll need actual dimensions (or at least a representation that the diamond has Very Good or Excellent GIA symmetry) on the written offer from somewhere else. The best bargaining tool is to write down ALL the information on a diamond's certificate, get a written offer on the diamond, and go into Tiffany and be as gutsy as you can without getting embarrassed.
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