If you’re holding your breath for Tiffany & Co.’s Memorial Day sale to arrive this holiday weekend then it’s best you start breathing — It’s not coming. Tiffany is one of a handful of brands, such as Louis Vuitton, Chanel, Gucci and Rolex, that never has any promotional pricing. No Black Friday sales, no Cyber Monday sales or any other types of clearance events.
Why Are There No Discounts?
High-end luxury brands have a few things in common: (1) they are not made for the masses; (2) the upmost effort is put into the quality and finish of the final product; (3) they have some of the best designers in the world that design and create their pieces; (4) these companies stand by their brand with worry-free warrantees; and (5) they have excellent post-purchase support, often including free lifetime cleaning services. In short, you get what you pay for. Anyone that receives something shinny from Tiffany’s should feel special because of the effort that goes into the making of every single item.
But Wait, There’s Good News!
Although not widely advertised, discounts at Tiffany actually do exist. Tiffany offers 10% off the retail price on all engagement rings and wedding bands for active duty, reservists and veterans of the U.S. Armed Forces as a “thank you” for serving our country. As quoted on their site, “those eligible for the discount include fiancés, domestic partners, wives and husbands, even if their U.S. military partner is stationed overseas and unable to come into the store.” Just keep in mind that the offer only applies to engagement rings and wedding bands to those who qualify and can show proof of eligibility — If you’re planning on buying anything else, such as a necklace or bracelet, or you are in the military of a country other than the United States, then unfortunately you’ll need to pay the retail price just like the rest of us.
There’s also a rumor that Tiffany & Co. employees are eligible for an employee discount — We’ve read that it’s as much as 30% off everything except diamonds and even up to 50% off on a certain number of items per year. However, we were unable to independently verify this estimate with an employee directly so this may or may not be entirely true.
Buy Now, Upgrade Later.
OK, so you’re not in the military and don’t have a friend that works at a Tiffany store, and you’re low on cash, but you or your fiancée are still dreaming of that Tiffany ring… what to do? You may want to take a look at Tiffany’s upgrade policy. While it’s not technically a “buy-back” program, Tiffany will take back and let you upgrade any previously purchased, eligible engagement ring for store credit that you can use on a purchase of a new ring. That means you can buy what you can afford today and save up for something bigger and better in the future. Just keep in mind that if you qualify, they will give credit that is equal to your original purchase price, not for the current price of that exact same ring. And as you probably can guess, prices historically go up just about every year.
What are some of your favorite jewelry pieces at Tiffany? Are you planning on buying for yourself or for your significant other? Let us know in the comments below!