Costco - 1.00 carat - Good Deal?

[jimmy963]

Is this a good deal from Costco?

I''m trying to buy an engagement ring, so I''ve been shopping around for a bit (LA jewerly district and online stores) and starting to read this forum (a lot). Trying to find the best deal, while trying not to get ripped off. Someone recommended Costco to me. I initially didn''t see anything I liked online, but contacted their Special Order dept. They said they have a 1.0 carat solitare for $8800 (~$9500 after CA tax). It seems like a good deal based on my comparisons, plus it comes with Costco''s assurance. So, is it a good deal ???

The specs:
Round solitare set in 14K white gold
6.45-6.49x3.95 mm
1.00 carat
Color - E
Clarity - VS1
Cut - Excellent
Depth 61.1%
Table - 56%
Crown Angle 34.5
Crown Height 15.0%
Pavilion Angle 40.8
Pavilion Depth 43.0%
Star Length 55%
Lower Half 75%
Girdle - Medium (3%)
Cutlet - None
Polish - Excellent
Symmetry - Excellent
Fluorescence - None

Please help me with your comments and opinions. Thank you.

 

[stone-cold11]

Err... Who graded that stone?

 

[jimmy963]

Oh, and it comes with the GIA and IGI reports.

 

[neatfreak]

It looks like it might be fine...HCA score is good at 1.2. I do wonder if you can do better on price though, and without pictures, etc. I would be hesitant to make such a big purchase from a place like Costco.

That being said, Costco does have some decent diamonds available, this looking like it might be one of them assuming it is GIA graded. I don't know why it would have a GIA AND IGI report though...weird.

 

[jimmy963]

I''m actually thinking hard about this because it is a BIG place like Costco. Their return policy is great and I feel they''re not going to totally rip me off. Obviously, I''m a complete nob to this.

 

[LostieLovesBling]

Date: 9/23/2008 7:59:17 PM
Author: jimmy963
I''m actually thinking hard about this because it is a BIG place like Costco.

I was just there today and always swing by to admire their jewelry. If their standard return policy applies to their jewels as well, I would not be hesitant to buy from them. Good luck!

 

[neatfreak]

Date: 9/23/2008 7:59:17 PM
Author: jimmy963
I''m actually thinking hard about this because it is a BIG place like Costco. Their return policy is great and I feel they''re not going to totally rip me off. Obviously, I''m a complete nob to this.

Obviously we all love Costco, and if you can get what you want there, great. BUT you won''t get any type of service with it as they have no jewelers...so just keep that in mind. They likely don''t have an upgrade/trade in policy either, which many of the PS vendors DO have, so if that is important to you it''s another factor to consider.

 

[Darthkim]

Hi jimmy,

I know the feeling. One would figure, since we live in such a metropolitan area, that the search would be easier? (I ended up buying from GOG)

Try making sure that it does have a GIA certificate. Every costco diamond i''ve seen has only the IGI certs.

If they have it, have them provide you the GIA certificate # and we could take a look online from there.

Outside of all that, we know how good costco is. I wish they would use another house besides IGI, but occasionally there is a good find there. (try searching for costco, i thought someone bought a ring from there a few months ago)

 

[denverappraiser]

Just ignore the IGI document. They include that because lots of people what an ‘appraisal’ that has a big number at the bottom as a demonstration that they got a good deal. Think of it as packing materials.

The huge thing about Costco is their return policy. 100% cash forever for any reason. That trumps any tradeup program I’ve come across. They can, of course, change the rules whenever they want but they’ve been solid for several decades now and it seems to be working well for them. I wouldn’t expect radical changes any time soon. I absolutely agree with the advice above to ignore the showcase entirely and shop directly with the special orders department. I would also point out that their policy of shipping to the warehouse of your choice where you can see it in person isn’t as useful as you might think. They would be hard pressed to make a worse lighting environment for evaluating diamonds if they tried.

No doubt about it, you aren’t buying from a jeweler and that comes with some downsides as well. No expert advice, no repairs or matching wedding bands, no design assistance. This is ala-carte shopping and you will also need to separately hire both a jeweler and an appraiser. That said, the prices are attractive and the above mentioned return policy is tough to beat.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[jimmy963]

The GIA #15717628

I shopped around in LA jewelry district and my experience has been mixed so far.

Couple of place were obviously trying to sell me something. For instance, one place told me aside from the color and clarity, NOTHING else matters. Then immediately knocked 40% off of the Rapaport price. Sounds pretty fishy to me.

I also went to Inta and Icing on the Ring. Both seemed knowledgable and willing to show you what you should know. Inta offered me a 1.02 Carat, F, VS2 that was rated EX, EX, EX for the Cut, Symmetry, and Polish for $8800 (this was the first place I''ve ever been to so I didn''t know to ask about all the other details). In any case, assuming all the other specs are good then when I compare it to the Costco ring, the Costco ring appears to be a better deal - better color and clarity.

Chances are I can bargain a little more at Inta. Plus, if I pay cash then no tax.

I also compared the Costco price (after tax too) to Blue Nile (bank wire/cash) prices. BN prices are always higher for simliar specs.

Aside from the personal touch issues of going to a jeweler, am I missing something? Is this a good deal?

Also, any recommendations for jewelers here in Los Angeles I should visit?

Thank you all for your comments.

 

[Dancing Fire]

Date: 9/23/2008 7:52:31 PM
Author: neatfreak
It looks like it might be fine...HCA score is good at 1.2. I do wonder if you can do better on price though, and without pictures, etc. I would be hesitant to make such a big purchase from a place like Costco.

That being said, Costco does have some decent diamonds available, this looking like it might be one of them assuming it is GIA graded. I don''t know why it would have a GIA AND IGI report though...weird.

only on their more expensive items.