Is Jewelry Enticing Enough for the Super-Rich?
Super rich…I’m always wondering how rich that is…until now. I just read an article titled, “What the super-rich are giving this holiday season.” I started to read further expecting to see million dollar diamonds as one of the main items…at the same time wondering who the hell can afford them and where do I need to open a store to get customers like that.
Apparently, Neiman Marcus has a Christmas Catalog that they publish every year with extraordinary gifts. More like gifts that are out of this world. The highlight this year is a trip to outer space for a mere $1.7 million. I was totally unaware of such a book. I knew of Robb Report but don’t subscribe because I figure the stuff in that magazine is way too rich for my blood.
Now I was enticed and wanted to live vicariously through the rich, the “super-rich,” so I kept reading. The article on MSN went on to talk about a limited-edition BMW M6 offered this year that sold out in 1 minute and 32 seconds, a $100,000 backyard water park for children, a $3.8 million membership at The Club at Castiglion Del Bosco, one of Tuscany's oldest working wine estates that has been transformed into a luxury resort, and even a $7,000 indoor pet home, replete with interior rug and coordinating wallpaper, as well as an armchair of plush Italian leather.
While reading the article I kept thinking to myself, “The next thing is going to be some million dollar diamond.” I was wrong. Nowhere in the article did it talk about a rare, beautiful diamond for X amount dollars. I didn’t think this could be possible so I attempted to locate this Christmas Catalog on Neiman Marcus’s website. Sure enough diamonds were there. A David Yurman watch for $34,000, some Neiman Marcus Exclusive Diamond Cuffs from $48,000-$128,000, even some cufflinks that were only about $325. Nothing that offered an experience.
I couldn’t believe that some huge Sightholder wouldn’t have a trip to a diamond mine until I found it on the Robb Report. Tiffany & Co. is offering a $1 million opportunity to accompany a diamond on its journey from rock to radiant jewel. This million-dollar journey includes traveling to an open pit mine in Lesotho and being able to witness how diamonds are extracted and processed. Then you will visit Tiffany’s diamond-cutting facility in Antwerp, where you will consult with experts on different ways to cut your rough stone. The end of the journey will leave you with a finished pieced designed by Melvyn Kirtley who will present you with sketches to review before you make your final selection, which will take six to nine months to complete depending on the complexity of the design.
This Christmas Catalog just reminded me how much people will actually pay just for "the experience."
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Jennifer Heebner commented:
Excellent observation, Shanu. We get the NM catalog at our house,
and this year's book didn't include any significant jewelry items.
However, last year's book did: a collection of antique jewelry. I
wrote about it in my former department, Upfront Business. Type
"Department Store is Better at Romancing Jewels Than Jewelers" into
the JCK search engine if you want to read my two cents about the
topic.
