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Costco H&A!

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Hongerhond

Rough_Rock
Joined
Jan 28, 2003
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51
My beautiful SuperbCert (1.02, E, VS2) from Barry arrived yesterday. Can''t stop looking at it! I''m going to San Francisco tomorrow to look at tension settings and will post pictures as soon as it''s set. Will post more info on the diamond then.

Back to the point of my post today. I received a H&A viewer with the diamond and used it to look at my other diamonds. And lo and behold, my diamond pendant from Costco shows perfect arrows! I could not see the hearts, because the diamond is set. Would it have perfect hearts if it has perfect arrows, or not necessarily?

I knew that Costco didn''t sell low quality diamonds, but I never thought they would be H&A. Incidentally, my engagement ring (10 years old) sadly shows no hint of arrows...
 

Ginny

Rough_Rock
Joined
Mar 13, 2003
Messages
19
I was at Costco last weekend, and they sure did have a few fantastic looking diamonds. Even had a 4+ carat IF D solitaire that was too expensive to remember! WOW.
Virginia
 

aneelcon

Shiny_Rock
Joined
Dec 2, 2002
Messages
248
Yep costco does sell H&A. My bf bought my engagement ring there. It's a 1.62ct solitaire. He didn't know what H&A was, nor did I, until I searched around on the internet. I then looked closely at my diamond, and low and behold, I could see perfect arrows.

I think costco just goes by the appraised value (from IGI) and slashes that price in half...with the exception of some 1.5ct and above stones. Mine was appraised by IGI for more than double of what I paid for. I need to get it appraised by someone else because IGI isn't the best....Need dave atlas or someone.......
 

aneelcon

Shiny_Rock
Joined
Dec 2, 2002
Messages
248
let me add one more thing...

I don't think costco sells diamonds on cut, just color and clarity, oh yeah, carat weight too. But most people focus on color and clarity and not cut (except of course, all you informed diamond buyers here on pricescope and DT). When he purchased the stone, he didn't know it was H&A and they didnt tell him that. Whatever is on the cert is what costco uses to set the price (which is 8% above what they get the stones for). It's up to the customer to make an informed choice about cut, etc.
 

dimonbob

Brilliant_Rock
Trade
Joined
Dec 12, 2000
Messages
670
aneelcon

Yes, please do get your ring appraised by D. Atlas. We would be very interested to know what he thinks if the IGI report and its accuracy.

I just went to the cosco site and from what I figure, if they charge only 8% over cost, they must be paying too much for their diamonds, which I doubt. Lets see what Dave has to say.
 

aljdewey

Ideal_Rock
Joined
Nov 25, 2002
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9,144
I'll be very curious to hear the results of this as well.

I have to admit, I'm a bit suspect of the true H&A status. If a cutter has is able to cut a stone to ideal or just-below ideal proportions, why wouldn't he command a premium for that stone? Why would he send that stone to IGI for rating instead of to AGS or GIA where he could get more for it?
 

aneelcon

Shiny_Rock
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Dec 2, 2002
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248
I have no idea what the process is from cutter to retailer. But this is what my bf got from costco:

An overview of our special order program:
· We offer rings, earrings and diamond pendants, typically in 1.5ct and above in various cuts, clarity and colors. (Our program is advertised as 1.5ct and above, although we do buy and sell items around 1.0ct and above.)
· The items are set in platinum, 14kt yellow gold or 14kt white gold in a Tiffany style setting. Due to liability purposes, we do not sell loose stones. The cost of either 14kt gold choice adds only about $90 to the cost of the diamond; platinum – approx. $450.
· Minimum clarity is VS2 and minimum color is "i".
· All items offered through this program come with both a GIA certificate and IGI appraisal.
· Based on availability in inventory, we offer you a similar choice(s) for you to choose from. (We have a waiting list if we do not have something readily available to offer you. If my buyer receives an offer on something close to your request, you would be offered the item before it is put into our available inventory.)
· If you are offered more than one choice and are having trouble deciding, we are more than happy to fax or email you copies of the GIA certificate and IGI appraisal for you to compare.
· Once you decide on one of the items, we will ship it overnight to a Costco of your choice for you to view and/or purchase. No obligation and our guaranteed satisfaction money-back guarantee Costco return policy applies to our program as well.
· If you decide to purchase the item we send, it is just like any normal Costco transaction – cash, check, Costco Credit Card or American Express – at the register.
· There are no shipping or finders fees involved – just the price quoted plus your state sales tax (if applicable).
· We have brokers that my buyer works with on a daily basis.
· We do not use RAP sheets.
· We do not have pricing lists as our inventory changes too frequently.
· We have found that we are lower in price compared to other wholesalers or internet sellers. Our markup is 8% of what we pay for the stone and setting.
· We do not buy Ideal cut diamonds. These are trademarked by AGS and are 50% more in cost. We buy GIA certified diamonds in the Ideal cut proportions.

Pricing depends on various factors -- cut, carat weight, color and clarity. Diamond prices at the time the buyer purchases also plays into the cost factor

I copied and pasted. let me know what you guys think. I am in the process of finding or should I say working with the appraiser.
 

aneelcon

Shiny_Rock
Joined
Dec 2, 2002
Messages
248
Of course I don't have a sarin to get my angles (I think that's what GIA left out right?). But I can see nice arrows, I'll post a pic later and maybe you guys can tell me what you think. I don't care if it's not a true H&A, I'm happy with the stone.

I'll post pics later tonight when I get home.....
 

aljdewey

Ideal_Rock
Joined
Nov 25, 2002
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9,144
----------------
On 4/18/2003 3:37:13 PM aneelcon wrote:

An overview of our special order program:
........· We do not buy Ideal cut diamonds. These are trademarked by AGS and are 50% more in cost. We buy GIA certified diamonds in the Ideal cut proportions.

----------------
Thanks, Aneelcon....that's very helpful. I'm sure your stone is beautiful, and I'm similar minded.....wouldn't matter to me either if it weren't a true H&A.

I'm curious about this in a general sense, though. Since GIA certs don't reflect crown/pavil angles, I'm assuming Costco's definition of ideal cut proportions is the "60/60 line" of thinking. If not, how could they assert that a diamond meets ideal cut proportions without having the measurements to support that?

Any input from the experts? Interesting.
 

aneelcon

Shiny_Rock
Joined
Dec 2, 2002
Messages
248
ok as promised...Here's the pic. Gosh it sure took me a long time to upload this. I used the magnifying glass on my bf's swiss army knife and a digital sharp nz150u view cam. Horrible pics on that thing (not worthy of printing out) but it sure takes good close ups.

let me know what you guys thing.

thanks in advance.

ring_32_.jpg
 

Lanee

Brilliant_Rock
Joined
Jan 29, 2003
Messages
534
This is so interesting, I wondered about the quality of the diamonds you see at Costco.
 

wbeller

Rough_Rock
Joined
Apr 26, 2003
Messages
2
I'm truly impressed by the information you've given in your reply. I've shopped at Costco for many years and have always been pleased with its service, price and prducts. Do tell me how I can see a Costco inventory of its diamonds! In the past seveal weeks I've learned through this site, and others, more about diamonds than I ever thought I'd lke to know--all to the good, and thankfully. For my wife's seventieth birthday--while she reufully considers the alternative--I want to get her an ideal-cut pendant (diamond pronged on a 16-inch platinum chain) of between 0.75 and 1.0 carats, VS2 and F, if possible. Can Costco help me?
 

wbeller

Rough_Rock
Joined
Apr 26, 2003
Messages
2
I'm truly impressed by the information you've given in your reply. I've shopped at Costco for many years and have always been pleased with its service, price and prducts. Do tell me how I can see a Costco inventory of its diamonds! In the past seveal weeks I've learned through this site, and others, more about diamonds than I ever thought I'd lke to know--all to the good, and thankfully. For my wife's seventieth birthday--while she reufully considers the alternative--I want to get her an ideal-cut pendant (diamond pronged on a 16-inch platinum chain) of between 0.75 and 1.0 carats, VS2 and F, if possible. Can Costco help me?
 

aneelcon

Shiny_Rock
Joined
Dec 2, 2002
Messages
248
To wbeller:

Well, you can check out their site but you will be limited to what's listed. I would call their special 1-800 number. Sorry I don't know what that number is. But if you go to any costco, there should be pamphlets available or.....email [email protected] She works in the diamond dept. Good luck and I hope your wife has a wonderful bday!!!
 

robbe

Shiny_Rock
Joined
Apr 24, 2003
Messages
147
dear aneelcon,
i was reading your posts in "costco h&a".

please allow me to first give you a brief introduction and then i'll go to my point:
i am in belgium manufacturing & dealing diamonds from antwerp, from mumbai-india & tel aviv.
I am working with gia, hrd and igi certs.
my clients are in china, thailand, vietnam and japan in asia.
mainly italy, germany, spain in europe.
united arab emirates, koweit and saudi arabia in the middle east.
all my clients respect all 3 above mentioned lab reports.
depending on size, clarity or color or h&a, they could order one or another cert but i get consistent orders for diamonds with all 3 lab-reports.

the reason i am writing all this is because you wrote "... I need to get it appraised by someone else because IGI isn't the best..."

i would like to say you are causing potential damage to those who work seriously and honestly, who are buying & selling a product for many years to clients who have never complained about anything.

i believe alot that what is being said about igi here are preconceptions because i can assure you i sometimes submit gia certified stones at igi and very occasionally they grade differently, that is, sometimes graded higher but more often stricter. anyway all 3 labs are grading very closely.

this was regarding the grading.
regarding the appraised dollar values:

i would always recommend one contacts the organisation that issued the document prior to make public statements like you and others are doing.

anyway you wrote
"... I need to get it appraised by someone else because IGI isn't the best..."

but me & my clients would have prefered to read
"...i need to get it appraised by someone else in order for me to verify it comes out the same as igi or not..."

this would have been an honest & acceptable statement and would not cause problems for those who trust this organistaion.

one final point:

i am looking at an appraisal document from the igi right now:
it says "...retail replacement value for insurance purposes only"
this could mean the stated values are calculated and adjusted according to insurance policies if 'replacement' is required and not necessarely according to market value alone - would be my wild guess. you should check that out.


respectfully, robbe
 

aneelcon

Shiny_Rock
Joined
Dec 2, 2002
Messages
248
Sorry Robbe!!!!

I didn't mean to sound rude. Actually, the IGI report is based on the GIA report. So the color, clarity, etc are the same. I think costco provides the IGI for their appraisal of the stone. I'm sorry.
 
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