Need An Engagement Ring–Try A Vending Machine

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By Douglas A. McIntyre Updated Published
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Need An Engagement Ring–Try A Vending Machine

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A new set of vending machines has been installed in one of America’s most famous office buildings. Put in by the owner Tishman Speyer, they contain expensive Brooks Brothers shirts, sandwichs, and cookies. They also include an item for people who want to propose marriage but are short on time.

The six machines are in Rockefeller Center, a complex of buildings in mid-Manhattan the construction of which lasted from 1930 to 1939. The original construction was made up for 14 Art Deco buildings financed by the billionaire Rockefeller family. The tallest building in the complex is 66 stories and was once among the tallest buildings in the world. A series of concourses runs under the buildings. That is where the vending machines are. The most expensive item in them is a diamond engagement ring, which sells for $800. So far, no one has put the money into the machine to get one.

The machines are called The Vend. According to The New York Post, EB Kelly, managing director of Rockefeller Center said, “We have people who might need something first thing in the morning or later at night when other stores are closed.” Presumably, in case someone wants to propose very early in the morning.

Just down the concourses from the $800 engagement ring are several stores which sell ones which are much more expensive. Jeweler Louis Martin sells rings at its Rockefeller store which cost as much as $13,000. At the northernmost end of the complex is Tiffany’s flagship store when engagement rings sell for tens of thousands of dollars. Not many places in America have diamond rings which cost that much. New York is among the 25 most expensive cities to move to but is not as expensive as some California cities.

Time will tell whether the $800 diamond engagement ring is simply a PR stunt or novelty. For the time being, it has only been a way to get the vending machines a lot of attention.

 

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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