Would you spend $1,000 on a tin can? Tiffany & Co. bets yes

As the company faces consistently declining sales and an unsteady stock price, luxury retailer Tiffany & Co. is hoping some new offerings will lure back customers - like a $9,000 ball of yarn, $1,000 tin can and $500 pill box.

It’s called the “Everyday Objects” line, released just in time for the holidays. The luxury items are, at least technically, actually usable household goods. But for many Twitter users, they’re just bizarre.

Tiffany’s chief artistic officer Reed Krakoff told Bloomberg the collection is valuable because “it incorporates the best quality, craftsmanship and design with a level of functionality that allows you to use these things every day.”

The products are certainly meticulously designed. The company’s $300 yo-yo is cased in sterling silver with a walnut accent. Its $500 pillbox gets the “whimsical Tiffany twist” by being outfitted in sterling silver, and the $650 walnut, silver and leather ping-pong paddles will certainly liven up any basement game.

But it’s unclear if customers will go for the pitch. As consumers have become more discerning about prices, they have moved toward bargain hunting and comparison shopping, reported Business Insider.

Tiffany has faced declining sales, reported CNN, and its average stock price has stagnated after rising for several months.

The jeweler tossed its CEO in early 2017 after rough financial results and has been working on new ventures.

Though the company’s most recent earnings report suggests some modest growth, Tiffany is facing a U.S. market that’s simply not all that interested in high-priced goods like jewelry and luxury baubles anymore, at least not the way they have been, reported Forbes. The question is whether consumers are, in fact, interested in things like a $275 pencil sharpener instead.

This story was originally published November 7, 2017 at 5:08 AM with the headline "Would you spend $1,000 on a tin can? Tiffany & Co. bets yes."