Trade Up plans like Tiffany & Co's

[Garry H (Cut Nut)]

I have had several weeks off, hope yo'all missed me!
On vacation we visited a Tiffany Flagship store and the ClingOn sales guy told us about their trade up policy.

They take back the entire ring and give you "up to" full price paid (less any taxes) credit that you must match with cash for a bigger ring (rings and earrings only I think he said).
The piece is sent back to NYC for assessment and the trade up value is set by HQ.

HAS ANYONE HAD EXPERIANCE with Tiffany or other B&M stores?
I know many of you have done so with WhiteFlash et al.

 

[MissGotRocks]

Only with Whiteflash. The mall jewelers generally have a 'spend 50% more' in order to trade. I thought Tiffany&Co. had a similar policy. However, if they send it back to HQ for price setting instead of honoring the amount originally paid, that figure could be anything they decide. I understand that price fluctuations in the market probably make it difficult to always honor trade in policies, but sometimes they favor the vendor too.

 

[Garnetgirl]

the ClingOn sales guy told us about their trade up policy.

Ha! Ha!
From a Star Trek fan…

 

[Daisys and Diamonds]

of course we missed you Garry

 

[tyty333]

You have to match the value they give you like double the price of what they give you for your trade in?

 

[Garry H (Cut Nut)]

You have to match the value they give you like double the price of what they give you for your trade in?

Yup, that's it.
I was hoping someone on PS forums would have done it and we could see how it works?

 

[jeaniefish]

Does that mean that Tiffany is going into the “ used jewelry “ business , in order to sell the pieces that they take in trade? What else would they do with all of those rings and earrings, etc? Can you just picture Tiffany&Co as an eBay or Etsy seller?

 

[Garry H (Cut Nut)]

Does that mean that Tiffany is going into the “ used jewelry “ business , in order to sell the pieces that they take in trade? What else would they do with all of those rings and earrings, etc? Can you just picture Tiffany&Co as an eBay or Etsy seller?

Clingon said they resell back into the market.
But since second hand Tiffany sell at a premium I guess they make a killing.
Wonder if they have partners who take the old goods?

 

[canuk-gal]

HI:

What's the problem? Is there a problem? Did you go looking for a problem, Garry?

Clingon, honestly? At a loss.

not so cheery--Sharon

 

[Garry H (Cut Nut)]

HI:

What's the problem? Is there a problem? Did you go looking for a problem, Garry?

Clingon, honestly? At a loss.

not so cheery--Sharon

No problem Sharon. Just thought it was an interesting topic and I never knew it was Tiffany policy. We help some people use HCA to pick diamonds from Tiffany. Wonderd if anyone had first hand experience.
No agenda. Just back from 7 week road trip and that was a little secret shopping on our last day

 

[Karl_K]

Welcome back Garry!!!

 

[Garry H (Cut Nut)]

Thanks Karl, hope you and yours are well and happy

 

[Ibrakeforpossums]

Etsy and ebay sellers already ask a premium for 2nd hand Tiffany. Where are these trade-ins going? TRR?

 

[daisygrl]

I have had several weeks off, hope yo'all missed me!
On vacation we visited a Tiffany Flagship store and the ClingOn sales guy told us about their trade up policy.

They take back the entire ring and give you "up to" full price paid (less any taxes) credit that you must match with cash for a bigger ring (rings and earrings only I think he said).
The piece is sent back to NYC for assessment and the trade up value is set by HQ.

HAS ANYONE HAD EXPERIANCE with Tiffany or other B&M stores?
I know many of you have done so with WhiteFlash et al.

Here is the link straight from Tiffany.com explaining their trade-in policy. Cartier, for instance, does not have a trade-in policy. You are stuck with the ring. These are the only brands with which I am familiar.

Can I upgrade my Tiffany engagement ring? | Tiffany & Co. US

Have a question about a Love & Engagement purchase? We value your time. Discover our frequently asked questions for quick and accurate answers.

www.tiffany.com

 

[yssie]

If the goal is just to learn about people’s experiences with Tiffany’s upgrade policy - the other forum that focuses on purses has a subforum dedicated to Tiffany and several members there have shared their trade-in experiences. Lots of very happy Tiffany customers.

As with every brand in the world - there are the rules and then there are the occasions where those rules are broken. People on the other forum have also shared experiences wherein Tiffany went above and beyond their policy on paper to accommodate their wishes.

Edit: I am presuming that it’s okay to mention the other resource in this post since it directly answers the question posed in the original post with data that is unavailable here on PS.

 

[Garry H (Cut Nut)]

If the goal is just to learn about people’s experiences with Tiffany’s upgrade policy - the other forum that focuses on purses has a subforum dedicated to Tiffany and several members there have shared their trade-in experiences. Lots of very happy Tiffany customers.

As with every brand in the world - there are the rules and then there are the occasions where those rules are broken. People on the other forum have also shared experiences wherein Tiffany went above and beyond their policy on paper to accommodate their wishes.

Edit: I am presuming that it’s okay to mention the other resource in this post since it directly answers the question posed in the original post with data that is unavailable here on PS.

Thanks Yssie,
Lots of happy folk there. Seems Tiffany do the upgrades very fairly.
I was surprised to see several threads where the folk were trading up to a second hand Tiffany ring.
It would seem that there is a substantial volume of Tiffany rings placed back into the second hand market because Tiffany do indeed not put the trade in diamonds back into stock. Given their brand value seems the second hand ring is easily wholesaled at a good premium.

 

[yssie]

Thanks Yssie,
Lots of happy folk there. Seems Tiffany do the upgrades very fairly.
I was surprised to see several threads where the folk were trading up to a second hand Tiffany ring.
It would seem that there is a substantial volume of Tiffany rings placed back into the second hand market because Tiffany do indeed not put the trade in diamonds back into stock. Given their brand value seems the second hand ring is easily wholesaled at a good premium.

I think it must really depend on the rarity of what was originally sold! An unusually large stone, or a branded fancy shape, or an FCD, I imagine they'd patch it up and remount it and resell it as soon as possible. But maybe the 1ct F VS2 RB is more work to rework and recertify than it's worth to them!