anyone purchased an important diamond from COSTCO?

[windowshopper]

just curious..............1 carat or more. it seems weird but i was in costco and pretty impressed by a few things.......big 2 carat rounds in platinum. not sure how the prices compare.

 

[Kaleigh]

WS, There was someone a while ago that purchased a lovely 3 stone emerald cut ring from Costco. She got it appraised and it got a great appraisal. Can''t remember who it was though.

 

[Slykat12]

I personally would not buy stones from them. I am sure there is no gemologist on the premise. Why don''t you get the specs of a diamond from there and post them.

 

[widget]

Search: "cosco" there are several threads on the subject.

According to one poster, Cosco can beat most B&Ms, but better prices can be had online.

Since they probably don't have very knowledgeable staff, it seems to me you'd have to go in already educated on diamonds, prices, etc.

I'd probably only want to consider their GIA graded stones.

widget

 

[larussel03]

On Good morning america, they were comparing diamonds bought at tiffanys and those bought at costco. They had an expert gemologist appraise them. He found the 16,000 tiffany one to appraise for 10,000 (but comes along with the "tiffany name" and gaurentee etc) and the 6,000 Costco 1ct to appraise for 8,000, and he remarked that it was a nice stone. The tiffany and the costco stones weren''t comperable, as the tiff one was bigger and everything, but the point was if you go in educated, you can get a good deal at Costco, I guess. I dont have any personal experience with it though.

 

[oldminer]

What kind of a grading paper comes with it? GIA, IGI, EGL other?
What is Costco''s return policy?
Do they have a trade-up policy in place?

Maybe the price appears to be excellent, but how about the cut of the diamond?

Does anyone in the entire store know anything about diamonds?

I may be a little old fashioned, but I can''t think of an instance where I preferred to buy something I personally knew little about from a stranger or from someone who obviously had little or no knowledge about the product being sold. Buying a diamond from a knowledgeable dealer, B&M or Internet vendor is the relaible way to go. I know Costco and Walmart sell tons of jewelry and gems, but those few employed by them who know the business are very isolated from the retail consumer. Those they hire to sell are far less likely to tell you anything of importance beyond what their trainer told them to say.

My wife loves strawberries that she buys at Costco. No one in our area has such big ones that look and taste so good. Maybe their diamonds are equally as excellent. Just don''t start to think that because the strawberries are great that the diamonds are just as good.....It may not be the case. The jury is out.

 

[Jolie]

We looked into it about two years ago, and this is a summary of what I found out:

You can "order" a stone to meet your specifications from their representatives. Check with the store manager for contact info (I worked with their rep via e-mail). They''ll ship the diamond to your nearest Costco, where you can inspect the diamond before buying.

After purchasing, you have 30 days to take the diamond to an appraiser and have it checked out. If you don''t want to keep it, return the diamond to your local Costco within 30 days for a full refund. I really liked the idea of being able to return the stone to the local Costco on the 30th day instead of having to mail it back and deal with insurance issues, mail delays, etc.
As for price, I was looking for two 1-carat stones for earings. I think a 1-carat D, VVS2, cut to ideal proportions, was around $7,800, which included the $300 charge for a cheap white gold setting (my biggest complaint was their policy of having to buy the stone mounted). The stones came with GIA certs. As with any stone, I would take it to an independent appraiser during that 30-day window anyway.

I ended up not buying my stones there, but it seemed like a viable option. But then, I''m not the type to pay for the "Tiffany" name or that sort of thing. If you are that type, maybe Costco isn''t for you.

 

[Dancing Fire]

Date: 11/14/2005 12:11:31 PM
Author:windowshopper
just curious..............1 carat or more. it seems weird but i was in costco and pretty impressed by a few things.......big 2 carat rounds in platinum. not sure how the prices compare.

my local costco price for a I VS2 1 ct with IGI report ($4700).the catch is....their policy say the weight are approximate and may vary by .05 ct.

 

[valeria101]

They report the most expensive diamond ring bought online was near 100k. I wouldn''t be surprised ...

I wonder how many shops offer better information and service anyway. Online the difference between Costco and BN is mostly... the graphics on the interface

: you get the same fax copy of GIA report and the return policy respite to figure things out. Between the two, it is hard to tell which is the jeweler.

It still comes down to the buyer to figure out and pay for adequate information, independent appraisal etc.

With settings just a pesky little detail to be minimized and standard issue lab reports,

no wonder diamonds can be sold like this.

 

[ChargerGrrl]

My Best Friend''s husband bought her ring from Costco about 4 years ago. He did his homework, and ended up getting the most bang for his buck there. He was smart and really befriended the area gem buyer, which resulted in a great stone (he waited for a good one). Her ring is beautiful!
My SO and I talked to him about e-ring shopping when we were first starting out a couple of months ago. Although he gave Costco a great recommentation, he stated that he wouldn''t hesistate to buy online today.

 

[cymbrie]

Here''s the corresponding Good Morning America article pretty interesting. If you know a good appraiser/jeweler who can view the stone this may not be a bad deal.
http://abcnews.go.com/GMA/Business/story?id=1197202&page=1

Honestly one of my big reservations about buying from Costco or any other B&M or Jeweler is that I live in CA which means diamond/item + .0825% tax. When we shop for my ring we''ll likely be going online, after all if you''re spending 10K and have to spend $825 on tax why not put that towards a setting?

 

[ChargerGrrl]

Interesting article. Thanks for posting it, cymbrie!

Had anyone ever heard about the $250 "tester" mentioned in the article? It it something for consumers, or only professionals? (i'm not interested in one, just wondering as it's the first i've heard of them)

 

[jaz464]

Looks like anyone can get one:
http://www.igem.com/ProductInfo.aspx?productid=SW335

 

[glamgirl]

Before discovering Pricescope, I was considering a Diamond Purchase from Costco. Well, I can tell you that they deal/have a contract with a company/vendor that is not in the "dark" about diamond quality. I wanted a large stone, with certain specs. I not ony got a phone call back the next day, but the person helping me had all the specs,and seemed fairly informed.
He started that all the stones they sell to Costo are GIA certified, only VS quality,(no Si stones which was what I was looking for), and nothing under I color. All the cuts were either ideal, or near ideal. I wanted an Si( wanted more bang for $$$) so Costco was not a good option for me, also the added Tax was an issue as well.

 

[denverappraiser]

Costco is a pretty good company.

Their large diamond section operates very much like many of the online dealers in that you call up their special order line to order in whatever it is that you want. It''s sort of a virtual b&m. They are polite, reasonably knowledgable and will make a decent effort at answering your questions although they don''t stock stones and so they can''t take pictures, get sarin scans and the like. Rather like the online virtual dealers, this can be frustrating and this approach rarely can get the best of the best. When they find something that seems to fit your requirements they will happilly ship it to the warehouse of your choosing for examination and/or purchase. Their pricing is competitive with most of the other aggressive dealers, both online and off. Don''t expect much in the way of expert assistance and don''t expect the warehouse personell to be able to tell you much more than the price and provide directions to the restroom. The viewing environment in the warehouse is, to say the least, dreadful, and the whole shopping experience doesn''t appeal to everyone. All in all, for the right people looking for the right merchandise they can be a decent choice. You can even buy a new set of tires while you''re there.

Neil Beaty
GG(GIA) ISA NAJA
Professional Appraisals in Denver

 

[gmiller_va]

I''m glad this topic came up. Here''s my story; sorry it''s so long. I''ve been meaning to register and post this here for a couple weeks now, but have been too busy. This thread was just what I needed to get motivated. I don''t mean for my experience to be taken as an endorsement or a suggestion that this is the best approach for everyone, but it has worked exceedingly well for me. I hope my sharing it helps someone, or at least gives another data point on Costco.

A couple months ago, I decided to buy my wife a 3-stone ring for our upcoming anniversary. I don''t know much about diamonds, but I''m the type who researches everything to death before buying anything. It took me three months of research to buy new tires for my car. Call it a hobby. I have a feeling there are folks here who can relate.

I stumbled upon this site while doing my homework, and was immediately at home. I spent hours reading the tutorial materials and the forum discussions. I''m still no expert, but at least I have a clue about the basics. I certainly know a lot more now than I did 12 years ago when I bought my wife''s engagement ring!

After reading for a while, I came to this simple conclusion (I''ll be interested in hearing if the "regulars" will agree): There are two basic approaches to shopping -- buy loose stones from a reputable dealer, have them appraised, and then set. This is the lowest cost approach, but may require a bit more "work." Otherwise, shop at B&M retailers where one can compare and contrast the merchandise firsthand, but likely pay more for the convenience, customer service, etc.

I did some looking at local retailers to see what I liked -- I wasn''t even sure what shape stones I wanted until I saw some real rings firsthand. I was debating about going the online route vs. B&M. Then, I came across the Costco web site. They had a beautiful 2ct round 3-stone platinum ring that looked exactly like what I wanted, and the price was significantly better than what I was seeing at retailers for comparable rings. Like many others, I think of Costco as the place to buy bulk diapers and large quantities of laundry detergent, but not fine jewelry. But then I started thinking, "why not?" If it''s really what they say it is, why does it matter if it came from Costco (along with the 200-pack of paper towels)?

Here''s the ring: http://www.costco.com/Browse/Product.aspx?Prodid=10045893&whse=BC&topnav=&cat=3134&hierPath=28447*

So, I searched the forums here for info on Costco, and found some discussion about the vagueness of their quoted specs ("I or better", "VS2 or better", what does that mean?), but no solid negative feedback. Given the Costco 100% satisfaction guarantee - I did call to confirm this policy, as well as ask about the return policy in a local Costco store - I decided I had nothing to lose by giving it a shot. Worst case, I wouldn''t like the ring, and I''d be out the cost of shipping and the appraisal. Seemed like a risk worth taking.

So, I ordered the ring online. Interestingly, it disapeared from the website for a few days after I ordered, so I guess they only had one in stock. It arrived a few days later, and I took it to a local independent appraiser, Martin Fuller, who I found on this site. The appraisal went very, very well. His first comment was that it was a beautfully cut stone, all three actually, but especially the center stone. He went through all of the standard tests and measurements. The metal is indeed platinum, the stones all measured as claimed on the IGI SOA. (BTW, stones larger than 1ct from Costco come with a GIA cert. Smaller stoned just have an IGI SOA.) He agreed with all of the specs claimed on the IGI paperwork, with one minor exception. IGI claimed the side stones were G-H in color, but he said he''d call them H-I. However, one of the stones had a strong blue fluorescence, which he said *could* have contributed to the discrepancy. (The stones were still within the "I or better" that the web site claimed they would be.) The center stone claimed to be an I color, but he said it was a very nice I, close to H. He found three small inclusions: a small cloud, a chipped culet, and a small cavity on the back side, which he said cummulatively he would rate as VS2. The stones are eye clean, at least to my eyes! The stones were supposed to be 1ct for the center, and .50ct for the sides, but came in at 1.01 and .52ct (for a total of 2.05ct).

What made me feel particularly good was that several times he remarked about the nice cut of the stones. He didn''t use the word "ideal," perhaps intentionally, but he did say repeatedly that the cut was very good. I was glad to hear this because I thought they looked great too, but liked the confirmation from an expert.

Finally, he assessed the value at a few thousand dollars above what I had paid on Costco''s web site. At the end, I told him I had bought the ring through Costco, and he was shocked. He was really quite amazed that the ring had come from Costco, probably for all the same reasons that others of us have been hesitant.

Overall, I am very pleased with how the process went. Shopping at Costco online couldn''t have been easier. I got what they said I would get, and I had an independent expert confirm that for me, so I don''t have to worry. BTW, I also upgraded my membership before the purchase, so I''ll get 2% back.

The last step is to give her the ring on our anniversary next weekend...

Greg

 

[pricescope]

Greg, congrads with anniversary and thanks for the interesting and detailed story

 

[windowshopper]

yes thanks to everyone who responded..........i must say i am ambivalent (not in the market for anything at costco or anywhere else ) but i happened to look in the case and there was some real pretty looking stones..............started to wonder. Is it a scam or is this stuff ok.................i imagine the burden of due diligence is that much greater on the buyer than in most other circumstances but possibly quite a hidden (potentially) bargain

 

[glamgirl]

Windowshopper... Those stones in the Costco case(the expensive diamond case) at Costco are not real! The manager at the store told me, that display high ticket solitaire rings, and on those more expensive pieces they are CZ! Just thought I let you know, as I as well was under the assumption that they were real. But, under Costco lighting anything can look real and sparkle alot.

 

[windowshopper]

Date: 11/14/2005 10:47:51 PM
Author: glamgirl
Windowshopper... Those stones in the Costco case(the expensive diamond case) at Costco are not real! The manager at the store told me, that display high ticket solitaire rings, and on those more expensive pieces they are CZ! Just thought I let you know, as I as well was under the assumption that they were real. But, under Costco lighting anything can look real and sparkle alot.

 

[fire&ice]

They aren''t always CZ''s. They state on the card when they are. It comes and goes at our Costco whether the real one is displayed or not.

And, I have overheard conversations when a person is looking at a diamond. I found the "sales" approach upfront & reasonable. In each case, Costco recommended using an Independent Appraiser. In the case the consumer wasn''t COMPLETELY satisfied, the diamond could be return for full refund no questions asked.

I''ve always been told that the consumer only has 30 days. Two posters who bought their rings at Costco swore that they had one year for a full refund.

I''ve seen GIA & IGI certs. On a rare occassion has the pav & crown angles been listed; but, the basics are provided.

I don''t care where I buy something as long as it is what it is & the value reasonable. I went into the 5th avenue Tiffany & Co this week. I didn''t find the atmosphere very "special". Pretty displays - but a meat market assembly line in full view of all the "tourists".

 

[windowshopper]

Date: 11/15/2005 1:08:04 PM
Author: fire&ice
They aren''t always CZ''s. They state on the card when they are. It comes and goes at our Costco whether the real one is displayed or not.

And, I have overheard conversations when a person is looking at a diamond. I found the ''sales'' approach upfront & reasonable. In each case, Costco recommended using an Independent Appraiser. In the case the consumer wasn''t COMPLETELY satisfied, the diamond could be return for full refund no questions asked.

I''ve always been told that the consumer only has 30 days. Two posters who bought their rings at Costco swore that they had one year for a full refund.

I''ve seen GIA & IGI certs. On a rare occassion has the pav & crown angles been listed; but, the basics are provided.

I don''t care where I buy something as long as it is what it is & the value reasonable. I went into the 5th avenue Tiffany & Co this week. I didn''t find the atmosphere very ''special''. Pretty displays - but a meat market assembly line in full view of all the ''tourists''.

nicely said--i too think Tiffany a meat-market

 

[bayarea]

Wow I must say this thread is incredibly useful.

From my research, I''ve learned a lot about diamonds. but nothing about the settings or the rings. I suppose I could just buy a costco ring and chuck the ring for the diamond, but that seems rather silly.

Is there a consensus on the ring itself at Costco? Are they always platinum or do they offer gold? (Or is gold out of style?)

 

[ForteKitty]

Despite my advice on ordering online, my friend''s sister bought a 1.50ctw 3-stone pendant from Costco because she needed it in a hurry (her wedding), and they were the cheapest. Those diamonds turned out to be GORGEOUSLY cut! Each of them had crisp arrow patterns, and the inclusions were hardly visible under my 16X loupe. She had it appraised after her wedding, and they said the weight is 1.53ctw, the clarity is VS2, but that the color was closer to H. She was thrilled.

 

[GeoAtl]

I apologize for reviving this fairly old thread but a friend of mine mentioned yesterday that he's considering purchasing a ring at Costco, so I got curious. From what I can see, their prices are decent but aren't great (at least compared to the online prices). For instance, this (http://www.costco.com/Browse/Product.aspx?Prodid=11119921&whse=BC&topnav=&browse RB, 1.06ct, VS2, G color, platinum ring is selling for $7,799.99 (simple tiffany setting). If you click on the attached appraisal, you can get the GIA cert #. With that info, I pulled up the GIA certificate online and got the following info: 61.3 depth, 56 table, 34 CA, 40.8 PA, no fluo, ex/ex symmetry/polish, GIA "excellent" cut, HCA score of 1. So, the diamond seems great. Now on to the price.

Pricescope lists quite a few stones in that range, but the only one I could find with a certificate online was a 1.127ct, G, VS2. The scan of the certificate isn't particularly clear, so I can't get the sarin data from it but it is a NEW AGS 000 with DQD. The price is $6,453. A simple Tiffany setting is being offered online and at B&M stores between $400 and $800. Even if we assume that it's $800, the grand total here is $7,253 or almost $550 less than Costco's price (yes, you can get 2% off with Costco's executive membership, which narrows the difference to about $400). This doesn't even factor in the sales tax savings, which can be very substantial.

I ran the same comparison for a couple of other rings on their website and Costco was more expensive every time. As for the cut quality, the stones I've pulled up so far have all been rated GIA "excellent" or "very good" with HCA scores of 0.6 to 1.1.

 

[Gypsy]

We called. Do not recommend them for asschers at all. And no, they were NOT knowledgeable but this was two years ago... we talked to three people, didn't return calls, and it was miserable... and giving them specific stats was beyond them-- just couldn't search that specifically... but do know of folks who have bought rounds from them and had them appraise nicely.

I will say that the way costco generally works is it makes a deal with a sub-contractor who then works under the costco name to provide services (they do this with custom carpet, drapery, you name it)... if that is what they are doing with the diamonds, maybe they have changed their subcontractor for dramatic improvement-- because when we called... it was just awful.

 

[Modified Brilliant]

Just saw a three stone oval diamond ring today from Costco. The in house appraisal simply states that the diamonds are at least "I" color, "VS" clarity.
That tells you very little about the specific quality of the diamonds set in the ring. Signed by a Graduate Gemologist (GIA). Not professional.


www.metrojewelryappraisers.com

 

[codex57]

Each individual Costco has a different supply. I think it varies by region. Prices are good for most B&M stores (especially maul ones), but online stores usually beat it.

I got curious and actually started looking at them. Usually, you have to call that number for the bigger stones and then they ship it out if they don''t have it on hand. It''s ok. If you''re in a rush, and like the one in the display, you could do worse than buy from Costco. Then again, anytime you''re rushed, you''re gonna be paying some kind of premium simply cuz you don''t have the luxury to shop around.