When it comes to jewellery, while there are many luxury brand names such as Cartier, Bvlgari and more, Tiffany & Co. is a name on everyone’s lips.
In the recent weeks, there have been many conversations over proposals in Singapore, particularly with this girl proposing to her boyfriend during a football game. For the guys that are looking to propose to their girlfriends with a diamond ring, here are 5 things you should know first before buying a Tiffany & Co. engagement ring.
Read Also: [Price Guide] Here’s How Much You Need For A Wedding In Singapore (Plus Lower Cost Alternatives)
#1 The Tiffany Blue Box
Your Tiffany jewellery comes in a box in an iconic, distinctive colour known as Tiffany Blue, sometimes also referred to as robin’s-egg blue or forget-me-not blue.
The Tiffany Blue was trademarked by Tiffany in 1998. The Pantone Matching System even created a custom pantone number “1837” for Tiffany Blue, named after the year Tiffany & Co. was founded.
Trademark colours apply within the same industry. This means that other jewellers cannot use the same Tiffany Blue for their products. You can also personalize your Tiffany Blue ring box by embossing it with initials, a monogram or a date.
#2 Quality And Workmanship
How do you know if you are getting what you paid for?
Understanding the 4Cs (colour, clarity, cut and carat weight) is the step to buying an engagement ring. Most diamonds come with a report from the Gemological Institute of America (GIA) to certify the diamond’s authenticity. The GIA certificate that includes the diamond’s carat weight, as well as the grading for the diamond’s cut, clarity and colour.
However, for Tiffany diamonds, they come with their own Tiffany Diamond Certificate, issued by Tiffany & Co. to certify the authenticity and integrity of Tiffany diamonds. The Tiffany Diamond Certificate is backed by Tiffany’s Full Lifetime Warranty.
#3 A Lifetime Of Service
The size of our fingers could change during different stages of our lives, especially when there is significant weight loss or weight gain. This requires the ring to be resized in order for the owner to wear it.
With time, the ring could also lose its shine and the diamond could become loose in its setting. Your ring requires periodic cleaning and polishing to get it back to its original, shiny state. The prongs might need to be tightened to ensure that the diamond is still secure. The last thing you want is to realize that the centrepiece of your ring, the diamond, has dropped out.
Resizing, cleaning and tightening needs to be done by a professional, a service that costs money. Brand name jewellers like Tiffany & Co. offer customers this complimentary, lifelong service. This means after purchasing your ring from Tiffany & Co., you won’t need to pay for these services done for you in the future.
#4 Markups And Costs
Premium location, premium prices, especially in Singapore.
Located in the heart of Orchard Road, Tiffany & Co has a large two-story store front at Ion Orchard, a prime location along Singapore’s famous shopping street. Besides Ion Orchard, Tiffany & Co. also has 6 other branches in Singaporeat locations such as Marina Bay Sands, Sentosa and Changi Airport.
As a large global brand, Tiffany & Co. has the financial flex to spend on marketing, advertising and branding. In 2017, marketing costs were about7.6% of Tiffany’s 2017 sales, which is a whopping $319 million.
Smaller, custom jewellers on the other hand, pay for rental at more affordable locations such as heartland malls and industrial estates. They also do not have the scale to carry out such extensive marketing. For many jewellers, these cost-savings are then passed on to consumers.
#5 Commitment To Sustainability
Tiffany & Co. are committed to the sustainability of our natural environment. They source the majority of their rough diamonds and metals directly from mines they know and from recycled sources. Tiffany & Co. also believe in investing in the local communities that they operate in. This is done through means such as local hiring, fair wage practices and training and development at their workshops around the world. Tiffany & Co. also manufacture the majority of their products themselves, cutting and polishing diamonds at their own workshops.
Besides ensuring that their diamonds are sourced ethically and responsibly, they are also focused on ensuring that their famous Blue Boxes aremade with paper from sustainable sources and recycled materials.
Read Also: Are Diamonds Worth Overpaying For?
With these factors, it’s easy to see why Tiffany & Co. rings come with a hefty price tag. However, there is only supply with demand. There are still many consumers that would choose to purchase an engagement ring from a luxury jeweller that is known all over the world. From the moment you take that Tiffany blue box out of your pocket, everyone would already know it’s a ring from the one and only Tiffany & Co.
Buying An Engagement Ring From Tiffany & Co.
There are perks to purchasing jewellery from luxury brand names like Tiffany & Co. You enjoy top class service the moment you walk through the doors (you won’t even need to lift your hand to open the door). Many of these branded jewellery stores also offer a lifetime of post-purchase service.
With their long history, these luxury brands have built a name for themselves. This contributes towards their branding as a reputable, luxurious jeweller, giving consumers more assurance on the quality of their products and the trustworthiness of the company.
However, buying a ring from Tiffany & Co. comes at a high cost. Not only are you paying for something that is already expensive in nature, you are also paying for additional costs such as the rental, marketing, branding, certification, sustainability and service.
While these factors are some of the reasons behind the high price Tiffany & Co. charges for their jewellery, there are many other brand-name jewellers that offer similar value propositions.
Read Also: Brand Name Stores VS Custom Jewellers: Singaporean Men’s Guide To Buying The Perfect Engagement Ring
What Are Tiffany & Co. Alternatives?
Thereare also custom jewellers and other smaller jewellers present in the industry that are able to offer customers greater value for money.
While brand-names come with trust, service and authenticity, many of these custom jewellers provide diamonds with the same GIA certificate as the big boys. Some of these custom jewellers also provide services such as engraving and complimentary resizing or polishing (though some might charge one off fees to get the job done).
In recent years, synthetic, man-made, lab-grown diamonds have become more commonly accepted. According to Crystal Market Research, the global synthetic diamond market is forecast to grow to $28.6 billion by 2023 from around $15 billion in 2014. Even the market leader in the diamond industry De Beers have launched their own launch its own laboratory-grown diamonds through their Lightbox jewellery brand.
With the naked eye, it’s difficult to differentiate synthetic from real diamonds. Not only are these synthetic diamonds cheaper, they are also becoming more accessible. You can now find these synthetic diamonds in Singapore through stores such as Orro, Gordon Max and IUIGA.
Keep in mind that purchasing an engagement ring is the start of a next phase of your journey. It is also the start of many other expenses that you would need to incur leading up to your actual wedding.
Read Also: Getting Married? Here Are 6 Critical Things You Need To Do – But Probably Not Realise
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FAQs
What I wish I knew before buying an engagement ring? ›
- Settings and Diamonds are Often Sold Separately. ...
- Know the 4Cs. ...
- Jewelry Experts Say to Prioritize Diamond Cut. ...
- Shape and Settings Set Style. ...
- Order in Advance. ...
- There's No “Right” Amount to Spend. ...
- You Can Always Upgrade Later. ...
- Know Your Precious Metals.
Engagement rings from Tiffany are widely considered to be the best available. Every engagement ring comes with either a Tiffany Diamond certificate or a GIA certificate attesting to its high quality.
What is the rule for buying an engagement ring? ›General Rule: You should spend at least 2 months salary on the engagement ring. If, for example, you are making $60,000 per year, you should spend $10,000 on the engagement ring.
Can you negotiate price at Tiffany? ›As the economic funk bears down on consumers, the upscale jeweler is finding more jewelry lovers trying to bargain for lower prices in its stores, even though Tiffany has a firm stand that it will not cut prices of its products.
What is the most important thing in an engagement ring? ›The most important characteristics you should see while buying engagement rings are diamond's cut, color, weight, and clarity. These characteristics determine the worth of your diamond, both price-wise and appearance-wise.
How many carats should an engagement ring be? ›One of the decisions to be made when considering the purchase of an engagement ring is how many carats should the ring be? The average according to The Knot (a research company and website for all things wedding) is 1 to 2 carats. There is no rule. Developing a budget is always a good place to start.
Do Tiffany rings hold value? ›Because Tiffany Jewelry is so popular and classic, it is always in demand and has strong resale value. Although you won't get close to retail value for your pre-owned Tiffany jewelry, it's still worth quite a lot on the resale market.
Is it worth buying jewelry from Tiffany? ›Yes, you are certainly getting some of the finest quality around, however whether this is the best value for you may be a different story. It's possible in this case, you could look at finding a jeweller to work with to create a piece you love. We even have our own line of diamond jewellery you can view here.
Is Tiffany and Co considered high end? ›(colloquially known as Tiffany's) is a luxury jewelry and specialty design house headquartered on Fifth Avenue in Manhattan. Its product line features jewelry, sterling silver, watches, porcelain, crystal, stationery, fragrance, personal accessories, and leather goods.
What is the 3 month rule for engagement rings? ›The three-month rule stems from a marketing campaign the De Beers diamond company ran in the 1930s that sold the idea that true love and commitment could only be shown if a man spent a month's salary on his wife's ring.
What time of year is best to buy a ring? ›
According to Lemick, you're likely to find the best prices on fine jewelry in March, April and early May. Jewelers will have just wrapped up the holiday season and are typically quiet before engagement ring season starts. “September and October, you're hitting it at a downtime,” adds Lemick.
What is the old rule about engagement ring cost? ›One of the classics is how much to spend on an engagement ring. There's the outdated “three-month rule,” which argues spending one-fourth of your annual salary on a ring for your fiance is the ultimate way to show your love.
How to afford a Tiffany engagement ring? ›- Keep it simple.
- Don't go overboard with diamond quality.
- Don't get fooled by magic weights.
- Consider a shape other than round.
- Buying vintage delivers the biggest savings.
Articles are accepted for credit or exchange in the U.S. if returned in a saleable condition within 30 days, accompanied by a sales receipt. Some exclusions may apply.
Do you tip at Tiffany's? ›3. Re: Should you tip at Tiffanys ? No tipping would be expected. The salesperson gets a cut of the sale price (their commission).
What are the 4 C's of engagement rings? ›The 4Cs—color, clarity, cut and carat weight—are the globally accepted standards for assessing the quality of a diamond.
What is the best ring clarity? ›What is the best diamond clarity? The best diamond clarity rating is Flawless (FL). These are the rarest diamonds in the world; less than 0.05% of all diamonds are Flawless or Internally Flawless.
What's more important clarity or color? ›Clarity is more important in shapes like emerald, princess, and asscher. Colour is important for cushion, radiant, pear and oval. Generally speaking, as long as you choose an eye-clean diamond, your diamond will still look beautiful in terms of clarity.
What is a good diamond carat size? ›Tip #1: Standard & Average Sizes
The 1.0 carat center stone used to be the most desired size chosen for engagement rings, however, more recently we are seeing this shift towards a slightly larger stone, with couples choosing diamonds averaging 1.25 to 1.50 carats.
The four shapes that look the largest per carat are (in order of which looks the largest): marquise, pear, oval, and emerald diamonds. Among these shapes, oval diamonds are a top choice among those who want a classic-style engagement ring, yet want to maximize the size of their engagement ring's center diamond.
How many carats is enough? ›
For many brides-to-be, things like cut or clarity may be more important than actual carat size. For the average person in the U.S., any diamond at least between 2 and 2.4 carats is considered “big,” i.e., way more than enough.
How much is a 2 carat diamond Tiffany ring? ›For proportions, a 2 carat diamond ring by Tiffany costs about $60,000 - depending on the exact center diamond and setting. I LOVE Tiffany's designs and you have take a look on their engagement rings section - it's a delight...
What is so special about Tiffany ring? ›What Is the Tiffany® Setting? Introduced in 1886, the Tiffany® Setting set the standard for the engagement ring as we know it today. This iconic design features a round brilliant-cut diamond in a six-prong setting that lifts the diamond above the band and into the light, maximizing the stone's brilliance.
Do Tiffany and Co rings tarnish? ›Sterling silver tarnishes, especially when exposed to salt air and products containing sulfur, such as rubber bands and some papers. However, silver that is regularly used typically needs less care, so Tiffany strongly encourages you to wear your silver every day.
Can you take a shower with Tiffany jewelry? ›While most of your Tiffany jewelry can get wet with little to no impact, we recommend removing all Tiffany jewelry before engaging in the following activities: Household and outdoor chores. Showering, bathing or swimming in pools, hot tubs, hot springs and the ocean.
Can you wear Tiffany jewelry everyday? ›The First Rule of Silver Care
Sterling silver tarnishes, especially when exposed to salt air and products containing sulfur, such as rubber bands and some papers. However, silver that is regularly used typically needs less care, so Tiffany strongly encourages you to wear your silver every day.
...
Checking Tiffany diamond ring resale prices on Worthy.
| Original Tiffany ring price | $14,200 |
|---|---|
| Resale price | $6,500 |
| Resale % | 45% |
Are Tiffany diamonds worth it? Overall, they grade similarly to other labs, in terms of giving a Carat Weight, Color, Clarity and Cut. The most important, for Tiffany, is the Cut as they only sell diamonds with Excellent Cut Grades. This alone is part of the reason their diamonds are worth it.
Who is Tiffany and Co biggest competitor? ›Tiffany & Co competitors include LVMH, Chow Tai Fook, Harry Winston, Signet Jewelers and Worthy. Tiffany & Co ranks 2nd in Gender Score on Comparably vs its competitors.
What is the difference between a Tiffany Diamond and a Tiffany ring? ›The conclusion that I came to was this: The only difference between a “Tiffany Diamond” and a GIA graded diamond with an “Excellent” cut grade from another jeweler, is the guarantee that if you are unhappy with the grading that Tiffany gave the diamond, they will take it back.
How many months of salary do you need for an engagement ring? ›
There is a widely cited “rule” that you should spend three months' salary on an engagement ring. This stems from a 1930s De Beers advertising campaign that convinced men to spend roughly one month's salary on this purchase.
What month is the best time to buy an engagement ring? ›Cyber Monday
It seems that November and December are the best times of the year to buy your best diamond. The sales keep going just before Cyber Monday and if you are eyeing an excellent diamond from a diamond company that offers good value, you can purchase your best choice of a diamond before it's gone.
Today, the median American spends about 4% of their annual pretax income on an engagement ring, which roughly equates to two weeks salary. (Median means middle—there are as many people who spend more as there are who spend less.) That's still a substantial sum: A one carat engagement ring typically costs around $5,500.
Should I buy a ring a size up or down? ›If you're between sizes, it's usually best to size up rather than down, as it's easier to adjust a ring that's too big than one that's too small. You may even go back and forth between two sizes; for example, your hands can swell up on hot days, making your ring size slightly larger.
Is Costco a good place to buy jewelry? ›Bottom line: Costco can be a good choice if you're looking for low pricing plus in-person shopping. Overall, Costco diamonds are of decent quality and offer great value, as long as they're GIA certified. You can find a ring for 50% less than at other big-name jewelry stores.
Is $500 enough for an engagement ring? ›According to recent surveys, most American couples expect to spend between $1,000 and $5,000 on an engagement ring. The actual average cost for an engagement ring is over $6,000. With all that said, most women are reasonable and just.
What is 1 carat diamond worth? ›On average, the retail price for one carat diamonds can be anywhere between $2,000 to $16,000, and between $8,000 to $72,000 for two carat diamonds . And of course, the retail price and the resale value of a diamond are very different things.
Should you buy an engagement ring in cash? ›Cash. Most financial experts would say that if you can pay for your engagement ring in cash upfront, you probably should. If you pay for your engagement ring in full right away, you won't have to pay interest like you would with some financing options.
How much would a Tiffany engagement ring cost? ›The cost of a brand new Tiffany engagement rings can start at $1,500 with extravagant rings costing well over $100,000. The exact cost of a Tiffany engagement ring depends on size and quality of the ring's center stone as well as the complexity of the setting.
Are Tiffany and Co diamonds real? ›At Tiffany, our standards are so high that we only accept 0.04% of the world's gem-grade diamonds. If a diamond does not meet our rigorous quality standards, it is rejected and sold back to the market where it may end up with our competitors.
Is $2000 too much for an engagement ring? ›
Yes, $2,000 is enough to spend on an engagement ring, especially if you select a diamond that's under 1 carat. You can find a beautiful diamond and high-quality setting that fits your style and budget, such as this split shank ring that costs $580, leaving you $1,420 to spend on your diamond.
Can I exchange my Tiffany ring for another size? ›Articles are accepted for credit or exchange in the U.S. if returned in a saleable condition within 30 days, accompanied by a sales receipt. Some exclusions may apply.
Can I return a Tiffany engagement ring? ›All engagement rings, may be returned for up to 30 days from the date of original purchase for refund, credit or exchange. The engagement ring must be in saleable condition, include all product documentation (e.g. Tiffany Diamond Certificate, or Colored Stone or Diamond reports) and be accompanied by a sales receipt.
Do Tiffany ever have a sale? ›In summary, there has never been a Tiffany sale before, and there is unlikely to be one in the future. However, you can still get Tiffany jewellery at amazing discounted prices by buying pre-loved instead of new.
How long is Tiffany warranty? ›Closed on weekends and Public Holidays. Tiffany timepieces are warranted by Tiffany and Company, a New York corporation (“Tiffany”), for a warranty period of twenty-four (24) months from the date of purchase under the terms and conditions of the limited warranty.
Does Tiffany buy back jewelry? ›Tiffany and Co will not buy back your used Tiffany's jewelry, they only have an upgrade program where you can get store credits and get yourself a different item. If that is what you are going for it will be your best option. However, you will not be able to get cash for your jewelry.
How long after buying a ring should you propose? ›Allow yourself a couple of months before you want to propose. Deciding on a ring will take time, plus most jewellers will take around four to six weeks to create the ring and have it sized for you. “Avoid rushing the process of finding an engagement ring,” says Jason.
What goes on first engagement ring? ›Traditionally, the wedding band is placed first on the left ring finger and then the engagement ring is placed on top of it. The wedding band symbolizes the bonded commitment between you and your partner, so wearing it first keeps the ring closest to the heart.
Do you go shopping for an engagement ring with your SO? ›Definitely. In fact, 62 percent of couples now go engagement ring shopping together. If you don't feel comfortable doing so, be sure to communicate those feelings to your S.O. Simply tell them that you don't want to do a joint shopping trip because you think it's more romantic to be surprised.
Are you supposed to show your engagement ring? ›It Really is Up To You
In conclusion, when it comes to deciding whether or not you should see your engagement ring or wear it before your partner has proposed, the decision should be based on what feels right to you.
What is the three month rule engagement ring? ›
It's known as the "three months' salary" rule, and it implies that a buyer should put three months of their salary toward a sparkler for their future spouse. For context, The Knot 2021 Jewelry and Engagement study found that the average cost of an engagement ring in the US is $6,000.
How long does it take to get a ring sized at Tiffany? ›If you have requested to resize your engagement ring, please allow a minimum of seven business days for ring resizing. Once it's ready, you will receive a shipment confirmation email.
How much is the average engagement ring? ›How Much Should an Engagement Ring Cost? A one carat engagement ring typically costs around $5,500, but most couples spend over $6,000—and 7 percent spend over $10,000.
Who puts the ring first in engagement? ›The groom usually goes first, though we invite you to be progressive. He puts the wedding band on the bride's finger while repeating a phrase like, “I give this ring as a sign of my love.” Then, it's the bride's turn.
What happens to engagement ring after wedding? ›Move the Ring
Traditionally, the wedding band goes first on the finger so it's closest to the heart. To ensure the proper position, some brides temporarily move their engagement ring to their right hand. Then, after the nuptials, they return the ring to their left hand over the wedding band.
- Consider your metal choice. "When choosing metals, white gold and palladium fetch cheaper prices; palladium is also a great hypoallergenic choice." - ...
- Avoid whole carats. ...
- Buy a diamond with minor imperfections. ...
- Think about the taxes. ...
- Spend only what you feel comfortable spending. ...
- Use a family heirloom.
Most people consider an engagement ring to be a gift and, once given, the recipient can do with it what she or he wishes. A minority of states agree and consider the ring an unconditional gift. If either person breaks off the engagement, the woman gets to keep the ring.
Should I ask her what engagement ring she wants? ›If you're at a complete loss, there's nothing wrong with asking her what she wants for her engagement ring. You can approach it more casually by simply asking her about different components at different times, checking off metal, diamond cut, et cetera, one at a time.
Do you take off engagement ring to sleep? ›Put simply—no, you shouldn't wear your engagement ring to bed. Sleeping with your ring on can put pressure on the band and bend the shank and prongs out of shape. Your ring may also catch on your blankets, which can damage the prongs and pull out diamonds.
Where do you wear your engagement ring before marriage? ›In many Western countries, the tradition of wearing an engagement ring on the fourth finger on the left hand, (the left ring finger on the ring finger guide below), can be traced back to the Ancient Romans. They believed this finger had a vein that ran directly to the heart, the Vena Amoris, meaning 'vein of love'.