Luxury shops like Tiffany and Co. are not spared from the dwindling economy and competition. The jewelry shop has been offering discounts as much as 15% this season, according to this site.
I just got a call from a Tiffany and Co sales rep that they reduced their prices on 1 ct diamonds (give or take) by about 15% within the past two weeks. Their baseline started at $10,300ish before, but now it’s down to $8,500. Has anyone else seen major reductions from other retailers? They’re still overpriced relative to online retailers, but they are a lot closer now. These are strange times we are living in and I’m wondering if it would be prudent to hold off on buying an engagement ring until after Christmas.
Spokesperson for the company, Linda Buckley has confirmed that “it is true we have reduced prices on engagement rings on average 10%.”.