Why Is Tiffany & Co. So Expensive? The 8 Important Reasons Why
Tiffany & Co. is one of the most iconic jewelry brands in the world, but why is Tiffany & Co. so expensive? We’re here to answer that question and give you all the important details you need to know!
Everyone knows about Tiffany & Co. jewelry and their little blue box! This luxury brand was founded in 1837 and has since grown to become one of the biggest jewelry houses in the world, offering everything from simple, dainty pendants to dazzling diamond-encrusted engagement rings.
Tiffany has more than just an extensive range of necklaces, rings, earrings, and bracelets, but also watches, fragrances, leather goods, and home accessories – so there is something for everyone. If you have been browsing the Tiffany website, you may have spotted the high price tags on each item and have wondered why is Tiffany & Co. so expensive. That’s where this article comes in!
We’re answering that question so you know exactly what you are paying for when you add a piece of Tiffany jewelry to your collection. We will explore the multiple different aspects of Tiffany jewelry and the brand itself that have an effect on the price before listing a few best-selling pieces from the brand that are worth the high prices and deserve a place in your jewelry box! Let’s get started!
Why is Tiffany & Co. So Expensive?
There are plenty of different reasons why Tiffany & Co. is so expensive, so we are going to break down the different factors that have an effect on the final price of a Tiffany piece.
1. Metals
Firstly, the high-quality materials used by Tiffany have a significant effect on the price of Tiffany & Co. jewelry. You will find that many pieces of Tiffany jewelry are made from sterling silver, which is the highest quality silver available, to ensure a shining and durable finish, making these sterling silver pieces ideal for everyday wear.
There are also yellow gold and rose gold Tiffany jewelry available too – Tiffany always uses 18 karat gold in their jewelry for a high-quality and luxurious finish. Platinum jewelry is also available from Tiffany; most of these platinum pieces are engagement rings that have a gleaming finish and luxe look.
Tiffany has made an enormous effort over the years to ensure all of their metals are traceable, so now 100% of the raw silver and gold used in Tiffany jewelry can be traced back to an approved mine or recycler to ensure a high-quality finish to each metal and excellent working conditions for those sourced the raw materials.
Tiffany only uses 92% or purer metals for a top-quality finish, but this also means the metals cost more because they are so pure, which is one reason why Tiffany jewelry can cost so much.
2. Diamonds
Tiffany & Co. is also well-known for its diamonds, which are exquisite and hand-picked for their high-quality finish. Due to the high standard of Tiffany diamonds, 99% of the diamonds presented to Tiffany are rejected since they will only choose the best to add to their jewelry.
This is the same for any gemstones used in Tiffany jewelry, including emeralds, sapphires, and rubies, all of which have been hand-picked and are of the highest quality. Tiffany is making sure they are an ethical and socially responsible company by only sourcing diamonds from ethical suppliers that have a good wage and great working conditions for all the workers.
Tiffany has even established the Laurelton Diamonds company, which ensures the integrity of Tiffany diamonds through control of their global supply chain. This means all Tiffany diamonds have been properly sourced and finished before they go into a piece of jewelry, so Tiffany can guarantee the highest-quality finish.
The exceptional quality and ethical nature of the diamonds means each diamond costs a lot of money, which has a major impact on the final price of any diamond-encrusted jewelry from Tiffany.
3. Craftsmanship
To match the high quality of the Tiffany metals and diamonds, their craftsmanship is also exquisite to make sure each piece of jewelry is finished to a top standard. Tiffany has a vertical integration model to control each step and produce luxurious pieces each and every time.
As already established, Laurelton Diamonds Inc. cut and polish the diamonds to a high standard before they reach the Tiffany workshops in the United States. This American-based brand is proud of its US heritage and continues to manufacture 60% of its jewelry in New York, Kentucky, and Rhode Island.
All of the artisans at Tiffany’s workshops are highly skilled and well-trained to work with such luxe materials and gemstones and produce incredible jewelry for the brand. There are more Tiffany production centers all over the world, including an assembly workshop in the Dominican Republic, all filled with incredible craftsmen who work hard to create beautiful Tiffany jewelry.
Tiffany is keen to let the diamonds and precious stones really shine so each piece is handmade and customized to suit the gemstone. This is especially true of Tiffany diamond engagement rings are customized to fit around the diamond at the center of the ring.
The more affordable Tiffany rings take around 50 hours to make, while the more expensive, statement pieces of Tiffany jewelry take hundreds of hours to produce. The time, skill, and attention that goes into all Tiffany jewelry costs a lot of money and is another key reason why Tiffany jewelry is so expensive.
4. The History of Tiffany
The long history and rich heritage of the Tiffany brand means the company has spent years developing its designs, craftsmanship, and materials and now has a world-renowned reputation. People are willing to pay a lot of money for a brand that has an incredible history and subsequent impressive reputation. Tiffany & Co. was founded in 1837 by Charles Lewis Tiffany, first as a stationery store, before focussing on jewelry in 1853.
To advertise, Tiffany produced their first mail-order catalog in 1845, known as the ‘Blue Book’ which is still in production today. The incredible jewelry and clever advertising caused the brand to expand and in 1870, a new store was built in New York City, which was described by The New York Times as a palace of jewels.
It was during the 1880s that the Tiffany setting was created – this lifted the diamond above the band of the ring, showcasing the stone. Now, 135 years after this setting was first designed, the Tiffany setting still remains one of the most popular engagement ring settings in the world.
In 1902, Charles Tiffany’ son, Louis Comfort Tiffany took over and became the brand’s first official design director helping to grow the brand. The brand’s flagship store moved to Fifth Avenue and more stunning designs were added to the collection.
In 1998, the Tiffany blue shade was trademarked by the brand, and in 2001, Pantone standardized the color and renamed it 1837 Blue, after the year Tiffany was founded. Now this shade of blue is world-renowned and Tiffany is one of the biggest jewelry brands, with stores all over the world including flagship stores in New York, Melbourne, Paris, and London.
Not only is Tiffany known for gorgeous jewelry, but they also have created numerous sporting trophies, including the trophy for the US Open, the Larry O’ Brien Trophy for the NBA Finals, the Vince Lombardi Trophy, for the NFL team that won the Super Bowl, and the Rugby League World Cup trophy too. Customers will pay a lot of money to own a piece of jewelry that comes from a brand with such an incredible heritage.
5. Shopping Experience and customer service
The incredible shopping experience and amazing customer service you receive, even years after purchasing a piece of Tiffany jewelry, all have an effect on the price of Tiffany jewelry.
Each Tiffany store, in cities all over the world, has been expertly designed to show off the jewelry, while the sales assistants have been highly trained to deliver excellent customer service and answer any questions you may have. Each of the staff will take time to talk you through any of the Tiffany pieces you can consider buying to help you make the right decision and really appreciate this new addition to your jewelry box.
You can also book an appointment at a Tiffany store for more one-on-one time – these appointments include time to consult a Tiffany diamond expert, a great idea if you are looking to buy an engagement ring, and time with a sales assistant to explore the Tiffany collections and help you decide on the right piece for you, or as a gift.
After you have purchased a Tiffany piece of jewelry, there is also an aftercare service available. You can bring in your Tiffany jewelry for cleaning, alterations, repairs, and personalization, to ensure this piece of jewelry stands the test of time and is always shining! These extra services and the time and attention given to customers by the sales assistants will raise the retail price of Tiffany jewelry.
6. Exclusivity
Tiffany & Co. also has high prices for their jewelry to make the brand more exclusive and limit the number of people buying Tiffany jewelry. These high prices will also confirm their place as an expensive brand for wealthy customers. All luxury brands want an element of exclusivity and do not want lots of people wearing or buying their clothes, jewelry, or accessories.
This exclusivity makes the luxury brand extra special, giving each piece from the brand a higher status that only some people will be able to afford, distinguishing them from other consumers. The expensive prices mean that Tiffany is not a common, high-street brand that is seen everywhere and that lots of people can afford, adding an element of rarity to the brand.
Only people with a larger disposable income can afford a piece of Tiffany jewelry, making the brand exclusive and giving high status to the people wearing a Tiffany product.
7. Brand name and the Little Blue box
These high price tags on Tiffany jewelry mean you are partly paying for the brand name and iconic packaging of Tiffany. Tiffany is a world-famous brand that everybody knows about and the company knows customers are willing to pay a high price to own a piece of Tiffany jewelry – something that is more exclusive and not a common piece of jewelry.
This same idea surrounds the famous little blue box that all Tiffany jewelry is presented in. The box doesn’t cost much but is an iconic piece and something that everyone will recognize. Customers will pay a higher price for Tiffany jewelry, just because it will be presented in a Tiffany blue box and everyone will instantly recognize where the jewelry is from and how much it must of cost.
It is a special moment to present someone with a little blue box from Tiffany and see their face light up as they realize they have been gifted a piece of Tiffany jewelry – people are willing to pay the high prices at Tiffany just so they have this experience with a loved one.
8. Celebrities
Tiffany jewelry is incredibly famous all over the world; it has been featured in many films and worn by countless celebrities and royalty. The association between the Tiffany brand, film, and public figures pushes up the price of Tiffany jewelry since the brand is now worn by rich and glamorous people.
Perhaps the most famous reference to Tiffany is the film Breakfast at Tiffany’s, a film from 1961 starring Audrey Hepburn – this film helped to make Tiffany a world-renowned brand its story and made the jewelry from the brand even more in demand. This meant Tiffany could continue to charge a lot of their jewelry and they knew people would still buy Tiffany necklaces, rings, and bracelets to bring a touch of Audrey Hepburn to their own lives.
Royalty including Kate the Princess of Wales, Queen Elizabeth, and Princess Diana have all worn Tiffany jewelry, while celebrities such as Michael B. Jordan, Lady Gaga, Florence Pugh, Dua Lipa, Beyonce, Suki Waterhouse, and Hailey Bieber have all worn Tiffany pieces. Customers will pay a lot of money to also own a piece worn by their favorite celebrity or member of the royal family, subsequently pushing up the retail price of Tiffany jewelry.
Best Selling Tiffany & Co. Jewelry
There are so many gorgeous pieces available from Tiffany, so we have brought together some of our favorite necklaces, bracelets, earrings, and rings from the best Tiffany collections that we think you need in your jewelry box!
1. Necklaces
This Return to Tiffany pendant necklace is an iconic piece of Tiffany jewelry that everyone needs in their life! This stunning pendant has a simple design, making it perfect for everyday wear, and has been crafted from sterling silver so it will really stand the test of time.
The necklace includes a delicate silver chain, with two heart pendants at the end, one fitted with an enamel Tiffany blue center, the other engraved with the Return to Tiffany logo – just beautiful.
The Elsa Peretti collection from Tiffany is so beautiful, and this Elsa Peretti Open Heart Lariat sterling-silver necklace is one of the best-selling pieces from the collection.
The silver chain threads through one gleaming heart and finishes with a larger one at the end of the chain. This Tiffany necklace is simple enough to be worn every day, while the stunning design makes it a great piece for work or evenings out.
2. Bracelets
The Tiffany T collection is one of the newer additions to the Tiffany brand and we love the clean lines and minimalist look of the Tiffany T pieces.
This chic Tiffany T Wire bracelet is made from 18-karat white gold, while the two T’s at each end of the cuff style bracelet are encrusted with round brilliant-cut diamonds for a sparkling finish. This bracelet would look amazing on its own or as part of a stack!
The bold, statement look of this Tiffany HardWear link bracelet makes it a must-have piece in your collection to add a little glamour and luxury to any look, day or night.
The HardWear collection was inspired by the ‘Ball and Chain’ style from 1971 and includes a contemporary ball and chain link design. The bracelet is crafted from 18-karat yellow gold for a striking look and high-quality feel.
3. Earrings
These Tiffany Knot 18ct yellow-gold drop earrings may look dainty but they really pack a punch. The gorgeous earrings have an intricate knotted design, crafted from 18-karat yellow gold and embellished with round cut diamonds that really glimmer and sparkle in the light.
These earrings would be the perfect accessory for an evening out or special event, adding a little minimalist glamour to your look.
The Return to Tiffany Heart Tag stud earrings are an excellent earring for everyday wear, that will add a high fashion touch to any weekend or work look.
The sterling silver heart-shaped studs are delicately engraved with the Return to Tiffany logo and then decorated with a tiny diamond, to add a little extra sparkle. These earrings are available for $530 and would make a great gift for someone special in your life.
4. Rings
The combination of materials in this Tiffany T ring makes it an irresistible piece. This 18-karat rose gold ring wraps around the finger and finishes with a T motif at each end.
One T has been encrusted with round brilliant cut diamonds while the other is set with mother of pearls for a shimmering white look. This ring is just stunning and is the perfect accessory to add a little more luxe to any outfit.
The Atlas collection from Tiffany often features emblems inspired by the clack that you will find at the New York City Tiffany & Co. flagship store, as you can see with the Roman numerals that are engraved on this Tiffany Atlas X Closed ring.
We love the narrow size and beveled silhouette of this 18-karat rose gold ring, engraved with Roman numerals. The smaller size of this ring means it is ideal for stacking for an opulent look!
We hope you found this article answering the question why is Tiffany & Co. so expensive, helpful! For more luxury fashion content, check out the links below.
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