Recently I have been approached with Tiffany Diamond engagement rings. Their owners seem to be having difficulty getting offers that are remotely close to their asking price. The commonality between all of these clients is that they kept stating that their diamond was a “Tiffany Diamond”, and therefore is worth more than a diamond of equal quality without the Tiffany name tag.
Since there seems to be a misconception about the diamonds that are mounted in these rings, I would just like to take to clarify the initial impressions about a Tiffany Diamond.
Also to be clear, I contacted Tiffany & Co. and spoke directly with a “Diamond Specialist” in a management position so that I could be informed on their policies/standards and what exactly a “Tiffany Diamond” is.
Just to re-cap quickly: diamonds take millions of years to form deep within the earth. They are then mined in rough form, and transferred to a manufacturer. The manufacturer cuts the diamonds to be used in fine jewelry, and then typically sells them loose to wholesalers or directly to large jewelers. Many jewelers set standards for which they like to uphold when it comes to the quality of stones they purchase from a manufacture. These diamonds however are no different than others of equal quality going to a different jeweler.
This is exactly what Tiffany & Co. does – they only accept diamonds from a manufacturer that have received an “Excellent” cut grade. Tiffany & Co. then gives a certificate with each diamond that includes a guarantee that if the diamond is “not as promised in the Certificate”, they will accept it as a return, or replace the diamond with one which meets or exceeds the characteristics promised. All Tiffany Diamonds have 57 facets, and have the same proportions as any other Round Brilliant with a cut grade of “Excellent”. Tiffany & Co. does not sell diamonds with GIA, EGL, IGI, or any other certification.
When it came right down to it, and I asked what makes a Tiffany Diamond different than a standard GIA graded diamond with a cut grade of “Excellent”, the representative replied, “We back our diamonds with the guarantee”.
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. However, if you are working with a good jeweler, that should be standard procedure anyway.
When it comes to diamonds, (just like anything else in the retail environment) just because there is a name brand attached to the piece, does not mean that it is better quality. Tiffany & Co did not make the diamonds, cut the diamonds, or produce the diamonds they sell – they simply only sell “Excellent” cut diamonds. The Tiffany & Co. name unfortunately does not make the diamond you have worth more. In fact, when it comes to re-sale, I would much rather have a GIA certification than a Tiffany & Co. certificate.
