Re-setting a Costco Diamond?

[house_64]

Has anyone purchased a Costco (or Sams Club) Diamond ring and re-set the diamond in a custom engagement ring/band? I''ve been told that Costco diamonds are great quality for the price so I had considered purchasing an engagement ring from there only to use the diamond in my custom setting. Is this a silly thought? Am I wasting a ring/setting from Costco.... (I''m assuming it''s only worth $400-500 dollars). Any suggestion or information on whether Costco Diamonds are GIA certified or who certifys their diamonds? Thanks.

 

[JulieN]

I think they use IGI ? Well, I don't know about /both/ Costco and Sam's. But one of them...

 

[starryeyed]

Date: 1/17/2007 7:57:34 PM
Author: JulieN
I think they use IGI ? Well, I don't know about /both/ Costco and Sam's. But one of them...

I've seen IGI certs from Costco, but if you look at the cert, many times it will say, "based on GIA Cert # XXX.."

In my experience, Costco has good deals on diamonds, but I think you can do even better with a Pricescope vendor.

 

[kenny]

Date: 1/17/2007 7:56:08 PM
Author:house_64
Has anyone purchased a Costco (or Sams Club) Diamond ring and re-set the diamond in a custom engagement ring/band? I''ve been told that Costco diamonds are great quality for the price so I had considered purchasing an engagement ring from there only to use the diamond in my custom setting. Is this a silly thought? Am I wasting a ring/setting from Costco.... (I''m assuming it''s only worth $400-500 dollars). Any suggestion or information on whether Costco Diamonds are GIA certified or who certifys their diamonds? Thanks.

You used the word worth.

You may be paying $400 or $500 for a simple setting but I hope you don''t expect to be able to sell it for that much.

 

[FacetFire]

The Costco by me has EGL-USA certs, which are fine. You should definitely ask about the cert though...

 

[house_64]

Date: 1/17/2007 9:08:24 PM
Author: kenny

You used the word worth.

You may be paying $400 or $500 for a simple setting but I hope you don''t expect to be able to sell it for that much.

I hadn''t even consider re-selling the setting...... I just figured it wasn''t worth the time/effort but was hoping the savings on the diamond would counter the loss on the setting.

 

[lisaC]

Yep someone bought a 3 stone emerald cut ring from Costco and had Whiteflash reset it from 14kt yellow gold to platinum.

Link

 

[enbcfsobe]

You could try re-selling the setting as a setting (on weddingclassifieds.com or ebay or whatever). Alternatively, I think that some jewelers (esp. bench jewlers) will buy gold by its weight. Since gold prices are high right now, that might be a decent option, although you still won''t get back the full amount spent on the setting. I guess you''ll just need to factor that into what you expect to save on the diamond.

 

[niceice]

Costco is a seller like everybody else and the fact is that they represent a variety of qualities and price points. Thus a blanket statement like "Costco diamonds are great quality for the price" may not necessarily be accurate, but then again it might be. A little research and comparison is necessary to quantify the statement and I''m guessing that the accuracy of the statement will change on a stone by stone basis... Regardless of who you buy a diamond from, that diamond will be priced based upon the quality of the diamond, the lab which graded the diamond AND the expertise and overhead of the company representing the diamond. When it comes to diamonds, I recommend trying to compare Fuji organic apples to Fuji organic apples... Compare:

Lab graded GIA to Lab graded GIA / AGS to AGS / IGI to IGI, etc.

Total depth

Crown angle

Pavilion angle

Girdle thickness

Inclusion types and locations.

Overall proportions rating.

Polish and Symmetry ratings.

In my experience, firms which sell product by focusing on primarily upon price do not sell a comparable product to firms which focus on quality. Hey, I pick up things like toilet paper at Costco and I try not to hack up a fur ball when I pass by the jewelry counter (because apparently I have different standards as a buyer than their buyer - personal preference nothing more, this is why there are stores for all qualities) but I''ve heard from time to time that people have found something of interest there... I''ve heard it, I''ve just never seen it

My recommendation is that you spend some time reading the forums here on PS, I assume that you''re already doing so since you''re posting here... Decide what is important to you in a diamond and then shop in a variety of places for it. Find a dealer who provides you with the quality that you seek as well as a balance of expertise, knowledge and price and go for it! You can compare prices here on PS with ease and there are a lot of vendors to choose from, most of which provide real detail beyond a one dimensional lab report. If you find what you''re looking for at Costco, great! But I''m thinking you''ll probably find it here online or with a local brick and mortar store because I don''t see how Costco can provide you with any real detail or the quiet time to really look at a diamond - a dealer friend of mine told me that one of his customers bought a diamond at Costco and felt it was a great deal, the only drawback that the customer stated was that when he asked to look at the diamond he was ushered to the employee break room by the store manager and that they had to push a bunch of paper cups and soda cans out of the way to get some "working space" (no comment, I''ve seen my desk) and that they didn''t have a loupe for him to look at the diamond with "but it seemed like a pretty stone" so he bought it - hey, he''s happy so I guess it worked out. If the buyer is happy with the product and service, that is really all that matters, right?

 

[winternight]

^^^
That''s a great story. My local Costco also sells funeral plans and had sample coffins, so I guess you could have your marriage covered from begining to end!

As for quality the funny thing is they are trying to sell some higher end items, e.g., I saw some Versace china there - surprisingly.

 

[Luxuryacht]

I recently bought an engagement ring from Costco, with intentions to reset the stone in a platinum band.

The stone is 2.06 carats, near colorless, VS(1) princess cut. It's fantastic.

Honestly, at first I felt a little sheepish about buying the ring at Costco. It didn't seem "romantic." But then I started thinking about these facts:

I personally own stock in Costco.
I have friends who work at Costco.
I love shopping at Costco, and respect the company's business practicies with regards to both members and employees.

With the above considered, the question became why NOT get the ring at Costco?

Buying the ring was a great experience! I saw one of my friends who works there, and all of the employees were excited.

No, they didn't hold my hand, make me a cup of herbal tea, or place the ring in a little blue box. But I could live without those experiences, at the exhange of getting a nice deal on a beautiful stone.

I predict Costco is going to gain a lot of traction in the diamonds market. I read an article that stated they sold 96,000 carats worth of diamonds last year, so they must be doing something right. If you want to get a lot of quality diamond for your money -- get it at Costco. And be proud of it!