Costco buying. 3% discount.

[toybuilder]

In another thread, I talk about how my fiancee and I found a great diamond ring through Costco''s special order program. With the sales tax and the undesirable setting, we decided to pass on the ring. We have since looked at a number of other stones, but have yet to find another one that grabs us.

We may still go back to Costco. One thing that we realized two days ago is that we can get a 2% rebate by being a Costco Executive member, and get another 1% back from the Costco American Express card. Since there''s little incremental cost from regular to executive membership, and the AmEx is fee free, this allows us to get a 3% "discount".

We''re still checking on the details to make sure there are no exclusions (there doesn''t seem to be one). Others interested in the Costco ring might want to do the same.

 

[denverappraiser]

Both of the rebate programs that you describe have annual caps that limit your total payout.

The 2% program will only pay you up to $500/year. Depending on how expensive a stone you are buying and what else you buy at Costco, this may be an important restriction.

The 1% from American Express is applicable to purchases made anywhere, not just those made at Costco. It''s a pretty good program, and is perhaps a reason to use that particular card but this will depend on the merchant involved. Many will give you a discount for not using a card at all and there may also be a difference in final price depending on which card is involved. It is usually fairly easy to do the math and determine if there is a net savings available.

Neil Beaty, GG ISA
Independent Appraisals in Denver

 

[Mara]

Also there are other cards nowadays that can give you up to 5% cash-back on purchases, most likely with a cap as well, but if you are in the market for a new card and plan to make this big purchase on it (and pay it off right away of course!), you may be able to get a C/B card with the best deal.

 

[denverappraiser]

Mara,

5% in cash. Who? I want one of those.

Neil

 

[Mara]

I don't know where exactly but I do recall seeing a recent offer come into our household with 5% cash-back on it...I want to say Discover??

EDITED TO ADD: This url has all the info on the cash back cards...though it seems as though alot of them mostly do 5% on gas and grocery...but 2% cash back isn't bad either!

http://www.creditcards.com/cash-back.php?PHPSESSID=b333ef39fd20dad0462f47cc62478ccb

 

[DiamondsRagirlsbestfriend]

My fiance just purchased my incredible ring from Costco over the weekend. We went to the store together, and while there, we realized that the 2% rebate program was a good idea.

The membership folks didn''t mention a cap to us, although my ring isn''t going to get us a $500 rebate.

Before checking out Costco we did a lot of research and had decided to purchase online. At the last minute, I decided to drive over to Costco, just to check out what they had. I was shocked to find exactly what I''d wanted for a lot less money. The stones are so pretty. Emerald cut G and F (three stone ring), VS1. The only drawback is that I''ll need to get it reset into platinum at some point before my wedding.

Even with the sales tax and remounting costs, I think we saved a lot of money quality merchandise. I couldn''t be happier.

Best to you and your fiance.

 

[canuk-gal]

Date: 12/13/2004 9

1:26 AM
Author: DiamondsRagirlsbestfriend

Even with the sales tax and remounting costs, I think we saved a lot of money quality merchandise. I couldn''t be happier.

Best to you and your fiance.

HI:

Congrats. Post pics when you can!

cheers--Sharon

 

[baltneu]

I was at Costco this weekend, and while my FI went off to do some shopping I saw the diamonds, please correct me if I am wrong, but they are NOT certified by GIA or AGS, I did not recognize the lab they used. I do not think it was EGL. So anyone buying a ring there, check that out.

 

[denverappraiser]

Costco is a fine company. I shop there quite a bit and am consistently happy with the results.

I can't say I've ever bought a diamond from them but I'm obviously a special case in that area. That said, they are among the most extreme about this issue of selling stones that they don't actually own and that may or may not actually be available. This can be frustrating. It's also difficult, but not usually impossible, to get sarin data, IS images, brilliancescope results, particular brand lab reports and similar requests that are common among pricescope regulars.

It's also worth understanding that the warehouse is not a very good viewing environment and their onsite employees know nothing of value beyond what's written on the package. The bright side is that they don't usually even pretend to understand diamonds (or any of their other products for that matter) so they don't make matters worse with ignorant sales people. They sell what they say, they offer great return terms and will do whatever it takes to keep a customer happy.

They are a serious competitor in the business and their involvement is sure to grow.

Neil Beaty
Independent Appraisals in Denver

 

[DiamondsRagirlsbestfriend]

The ring came with a GIA cert for the center stone. I knew that I was looking for clarity over color, since that was the advice a professional gave me re: emerald cut stones. So I was very pleased to find VS1 stones in F and G at a great price.

The bottom line is that I''m SO happy with these diamonds, even if we did feel strange buying them at Costco. (Yes, you write the check in the regular line -- everyone just stared at us.)

 

[fire&ice]

Their larger stones all come with a GIA cert. Smaller ones may come with an IGI cert. Some stones come with both.

Yes, they don''t pretend to know anything about diamonds. But, their sales pitch went something like this "It''s pretty. We recommend that you take it to an independent appraiser & if you are unsatisfied for any reason, you may return it - no questions asked. Pretty sage advice.

They have nice jewelry in general. I found their prices to be lower than most "typical" B&M''s & prices higher than the internet. Though, that may not be the case anymore.

Congrats & Enjoy!

 

[Kamuelamom]

One more thing about Costco is that they guarantee that their stones are at least I color and VS2 clarity. That is their baseline for buying so I think one should be pretty well satisfied as long as they are not looking for a Triple 0 AGS stone. They do offer great values and if you get your education here first, at least you''ll know what you are buying in terms of the rest of the specs. For some that''s a great option. I almost bought a ring from them but when I went back it was gone. Fate happens

because then I got educated and knew better about what we were about to purchase. It was a lot of money to spend so I''m glad we bought educated.

 

[Dancing Fire]

i think Sam''s club has better cut stones ,they offer igi h&a stones with all the specs on the cert.