The Solid-Gold Putter

Jewelry stores, particularly Manhattan's staid old Tiffany & Co., are not exactly noted for their sense of humor. But last week Tiffany thought it was time for a gentle chuckle and a quiet spoof on those for-the-man-who-has-everything presents. Into the Wall Street Journal went a straight-faced Tiffany ad illustrating a golf putter with a head of 14-karat gold. Price: $1,475. At the bottom of the ad, in the best Wall Street tradition, Tiffany added a line similar to those that appear on security-offering notices: "This advertisement appears for the record only, as the entire stock has been sold."

Tiffany knew not what it had wrought. Its "entire stock" was one presentation putter, ordered by the partners of Parker & Co., a Manhattan aviation-insurance firm, to celebrate Managing Partner R. Leslie Cizek's 30th anniversary with the company. No sooner did the ad appear than Wall Streeters started burning up the phone clamoring for their very own gold putters. With a sigh, Tiffany Board Chairman Walter Hoving announced that the store had ordered more of the $1,475 clubs for the men who want everything. And that it also had a less expensive model in base metals, with a silver jacket. Price: $55.

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