Tiffany 18 Karat Gold Tea Service sells for $100,000 at Heritage Auctions on May 16, 2024 - This ultra rare Tiffany Tea Set contains 44.50 troy ounces of 18k gold which would equate to $83,437.50 in scrap value (44.50 troy ounces x .750 (18k purity) x Spot NY Gold Price of $2,500.) Tiffany very seldom manufactured hollowware pieces like this in gold. 99.999% of all that Tiffany made was crafted in sterling silver. Pieces made in gold were for the very elite and very wealthy and not intended for the every day person.
Why did this set sell for only a 20% premium over its intrinsic gold value? Currently, gold is at a high of $2,500 per troy ounce. Also, hollowware items like tea sets, goblets, and others pieces made in gold are not in high demand, largely because of the extraordinary cost. There are very few people that can afford to buy a $100,000 tea set made of gold.
See more details of the auction at Heritage:
Article authored by Greg Arbutine on 8-28-24
Gorgeous Set!