Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
COSTLEY GARY E
  2. Issuer Name and Ticker or Trading Symbol
TIFFANY & CO [TIF]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
TIFFANY & CO., 727 FIFTH AVENUE
3. Date of Earliest Transaction (Month/Day/Year)
01/24/2018
(Street)

NEW YORK, NY 10022
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock $.01 Par 01/24/2018   M   3,860 A $ 42.37 14,822 (1) D  
Common Stock $.01 Par 01/24/2018   M   2,477 A $ 70.28 17,299 (1) D  
Common Stock $.01 Par 01/24/2018   M   2,878 A $ 61.12 20,177 (1) D  
Common Stock $.01 Par 01/24/2018   S   9,215 D $ 109.3305 (2) 10,962 (1) D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (Right to Buy) $ 42.37 01/24/2018   M     3,860   (3) 05/20/2020 Common Stock $.01 Par 3,860 $ 0 0 (4) D  
Non-Qualified Stock Option (Right to Buy) $ 70.28 01/24/2018   M     2,477   (5) 05/19/2021 Common Stock $.01 Par 2,477 $ 0 0 (6) D  
Non-Qualified Stock Option (Right to Buy) $ 61.12 01/24/2018   M     2,878   (7) 05/17/2022 Common Stock $.01 Par 2,878 $ 0 0 (8) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
COSTLEY GARY E
TIFFANY & CO.
727 FIFTH AVENUE
NEW YORK, NY 10022
  X      

Signatures

 /s/ John C. Duffy, Attorney-in-Fact   01/25/2018
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Includes 9,962 restricted stock units, 9,029 of which are vested and 933 of which will vest on the earlier of May 25, 2018, or the termination of the reporting person's service as a director due to death or disability.
(2) The price in Column 4 is a weighted average price. The price actually received ranged from $109.3301 to $109.3400 per share. The reporting person's broker has provided to the issuer and the issuer will provide any security holder of the issuer or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
(3) Options granted pursuant to the Tiffany & Co. 2008 Directors Equity Compensation Plan, which complies with Rule 16b-3, on May 20, 2010. The option vested in full on the first business day following the grant date.
(4) Total grant 3,860 shares. 0 shares previously exercised.
(5) Options granted pursuant to the Tiffany & Co. 2008 Directors Equity Compensation Plan, which complies with Rule 16b-3, on May 19, 2011. The option vested in full on the grant date.
(6) Total grant 2,477 shares. 0 shares previously exercised.
(7) Granted Pursuant to the Tiffany & Co. 2008 Directors Equity Compensation Plan, which complies with Rule 16(b)-3, on May 17, 2012. The option vested in full on the grant date.
(8) Total grant 2,878 shares. 0 shares previously exercised.

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