Tiffany Co. and Silver. Ever scrap/melt any silver from a light blue wrapper?

Baley

There was just a story on CNBC with Melissa Lee and Analyst Brian Nagal of Oppenheimer about jewelry retailer Tiffany that had a line to the effect of, "Tiffany competes with Cartier and others at the high end [of the market] but also has a low end business primarily about silver" indicating that almost no one buys 2 million dollar pink diamond rings, however many would buy a $200 silver charm or $500 silver bangle bracelet or some such.

Tiffany missed earnings but the commentators spoke "the shine being off of Tiffany" due to disappointing sales, but the potential of lower materials costs possibly helping over the next quarters, and it occurred to me that the silver itself in Tiffany doodads, while certainly a cost input, is actually a small fraction of the eventual sales price (Tiffany apparently never discounts goods) but the major costs of this stuff is in overhead, craftsmanship, marketing, profit margin, etc.

I wonder if some people had silver Tiffany products that they thought were worth a lot of money with the rise in metals, but when when weighed for sale were worth relatively few dollars vs. their cost, even if bought or gifted a long time ago.

My questions are, Have you ever handled any Tiffany (or other designer) silver items at scrap/melt prices? If so, what kind of items, and if you have had or seen them in resale, but at a markup to melt, about what % was it? obviously, if more than melt value was paid, the item was not melted; any neat pieces that you decided to keep instead?

Yukoncornelius1

In the last year I have purchased a sterling Tiffany money clip and a sterling Tiffany neck chain for scrap, both were very cheap and in good condition.

tneig

Funny. Tiffany relating it to cost of material. Even the price of a Chevy has nothing to do with the cost of materials.
With the truth being they didn't run or modify their business model well enough, and needing something to say.

freechance

I sold some tiffany spoons and cups for scrap to my lcs. He just sent them off to be melted.
edited to add that I got less than melt for the lot.

Amigo

You're right about the public being ripped on those small doo dads ......... then again, most people aren't buying it because they are made of sterling. Most people couldn't care less. They just want to hang something on their bodies that says "Tiffany"

I've melted a lot of tiffany silverware and holloware. The last set I had was over 200 toz in the old king george pattern I think it was. All the knives had sterling blades. It just isn't worth it to me to list many sterling pieces on Ebay, because by the time it sells, silver may not be where I want it to be. I'd rather pick and choose my spot price to sell, which means it has to be melted. At least this applies to sterling pieces that wouldn't fetch much over melt. The expense is just too great on ebay these days.

On the other hand, there are MANY tiffany sets that don't get melted because the retail price is far above melt.

MsMorrisine

If any tiffany stuff comes your way... I might take a money clip or bracelet or something.


I wonder if their rings get more than scrap?



it's surprising that Tiffany items only bring scrap and have no jewelry value to them.




And I guess the same could be asked for cartier, etc. s-crap?

Pokermandude

I once received an item off ebay that was packed inside a tiffanys light blue box. Does that count?

I still have the box, it's a useful size. I keep my thailand/laos bronze canoe money and silver tiger tongue in it.