There is disclosed a sintered alloy for decoration comprising2 to 30% by weight of a binding phase comprising one or more elements selected from the group consisting of Fe, Ni, Co, Cr, Mo and W;0 to 10% by weight of a strengthening phase comprising one or more material selected from the group consisting of a metal, an alloy, a metal oxide, a metal nitride and a metal carbide;the balance of a hard phase represented by the formula:(Tia, Mb) (Nw, Cx, Oy)z(wherein M, A, b, w, x, y and z are defined in the specification); andinevitable impurities.The sintered alloy for decoration according to this invention possesses both a decorativeness suitable for decorative members as well as excellent corrosion resistance and mechanical properties.