Ultra-wealthy American shoppers rank London-based Graff Diamonds highest for products, customer service and reputation, according to the New York-based Luxury Institute.
The company, which opened its first store in London in 1962 and now retails in 31 locations worldwide, scored 7.98 out of 10 in the Institute’s 2012 Luxury Brand Status Index survey of Americans with a household income of at least US$200,000 per year and a minimum net worth of US$5 million.
UK jeweller Asprey, with a score of 7.82, and Japanese pearl specialist Mikimoto, with a score of 7.77, ranked second and third in the survey which asked participants to evaluate 22 luxury jewellers.
However despite Graff’s high rating just one percent of the surveyed pentamillionaires have purchased one of the brand’s diamonds in the past 12 months while three percent have shopped Asprey and four percent have purchased from Mikimoto.
Tiffany & Co was the most popular luxury jeweller in the survey with 13 percent of ultra-wealthy shoppers having made a blue box purchase in the past year and 75 percent planning to do so in the coming year.
“Quality in craftsmanship and materials are primary considerations for any luxury goods brand but especially so in jewellery,” said Luxury Institute CEO Milton Pedraza.
“The top-ranked jewellers also pay attention to delivering an outstanding customer experience to create true brand value and a competitive advantage.”
Survey participants had an average income of US$682,000 and an average net worth of US$14.6 million.