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Your Take: Would an Engagement Ring from Costco Bother You?
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Diamonds are commodities. They’re rated by organizations on the four “C’s” (clarity, color, cut and carat) and the “value” of the diamond depends on those specifications, nothing else. So why can Tiffany’s charge $16,600 for an engagement ring when a no-name store could only charge six thousand dollars less? (a 2005 ABC News story about this very subject) In my opinion, it’s all in marketing that robin’s egg blue box that Tiffany’s jewelry all comes in.
Nowadays, you can buy an engagement ring from a variety of sources including but not limited to warehouse stores like Costco and online sites like Blue Nile and Amazon.com. You can get them for far cheaper from these sources, but it begs the question… would it bother you if you knew your engagement ring came from a budget big-box type of store?
I think Tiffany’s is the only brand capable of charging such an exorbitant premium (there are a few others but Tiffany’s is the only one everyone knows about). So for many, if it’s not Tiffany’s, then it almost doesn’t really matter where it came from, right?
I’m fairly confident my wife wouldn’t care if the ring came from Costco. (it didn’t, but they were certainly in the running) While I would never receive an engagement ring, I don’t think I’d care about the name of the store listed on the receipt.
How about you? Do you think it changes anything?
{ 29 comments, please add your thoughts now! }
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I’d care.
My husband paid a premium to get a Canadian diamond. It was important to him, so it was important to me.
I would not have cared if my diamond was used/vintage, but if it was new, I was happy knowing where it came from.
I think there’s a related question of “would you care if your diamond was lab created/simulated” and I think for me the answer to that is “no”.
If the first question she asks is, “Where did you buy it?” …you need to keep move on… I’m just sayin’
Wouldn’t care. Of course, my wedding/engagement band (I have a custom-made with two small emeralds and one small, high quality blood-free diamond) only cost about $400. We went to a local jewelry designer and maker and had it made. She charged us more than cost, but not a whole lot more.
The mark-up on jewelry is so great that, even at a 70% off sale at most retailers, there is still a 100% or even 200% profit.
(to clarify: wouldn’t care if it came from Costco if it were Canadian. Maybe they even sell them).
Agree with Catherine – I bought Canadian for my wife at Brilliant Earth online. It cost slightly more than a similar diamond at Blue Nile or other reputable online sites but there’s some family history behind Canadian diamonds so I thought it was worth it for the sentimentality. She could have cared less where it came from really, but thought it was nice that it had a family story behind it.
In my opinion, buying online is definitely the smartest thing to do so long as you’re careful to get it from a reputable source (and of course then go have it inspected and appraised within your 30 day return window to guarantee you got what you paid for). Generally speaking, brick & mortar jewelry stores are a thing of the past. Many have closed up and many more are on their way out because they can’t compete with the online business.
I work in the bridal jewelry industry and I can definitely say if you look at the quality and craftsmanship of a Scott Kay, Verragio, A. Jaffe, or some other major designers piece as opposed to what you’ll find in Costco… there is a huge difference. It’s like buying a Timex as opposed to a Tag Heuer… or a pair of shoes from Payless vs a pair of Adidas.
(I have a low opinion of TIffany by the way but like you said…everyone knows of them. However, people that are in the know about jewelry do not buy there.)
Yes. I have one from Target. It bothers me only because I KNOW he didn’t look anywhere else – and that he bought it on sale (for less than a day’s work… so he didn’t even try to save up to show commitment). Which is fine, but it’s not a lovely ring and if you expect a woman to show it off (and he did/does) it has to be a NICE ring. I don’t have a local Costco’s, but I’m assuming they are close enough to one another……
Catherine, Scott: What’s a Canadian diamond?
Bentle: I would agree with that, I imagine the craftsmanship of the setting and other stones would be superior at a smaller place.
Bentle brings up the point of setting and bands etc. which is why I’d care if the ring was from Costco or many places where they’re sold “as is.” For a wedding engagement ring, I figure most people would put the time and effort into selecting the right jewelery for the right person.
It’s probably not only the perception that it may be a bit ghetto to get a ring from Costco, but also a bit of of “effort spent into looking for the ring” involved.
I’m sure the stone in itself is fine at Costco though, if they’re honest about the specs and source. Wouldn’t bother with Tiffany too, still plenty of good local jewelry stores in my area with decent selections and price. May even end up getting the stone and setting from two different places.
But at the end, I guess it also depends on the person the ring’s intended for, and what will truly make them happy (as Ron said, some may even trigger red flags. heh).
Fortunately, I have fulfilled my wife’s “big rock” expectations. She has studied diamonds for years (a close friend was a NY diamond cutter) and as long as the diamond met certain aesthetic and grading requirements, she wouldn’t care that it came from Costco or even Walmart. In fact, if the lower cost meant a bigger rock with equal quality, she would be all for it. That’s why I love that woman!
Why WOULD you care? It’s the quality that counts not the retailers profit margin… unless you are the retailer, of course…
My wife specifically asked for a blood diamond from Kmart.
I myself, being a man could care less about diamonds. I would hope she wouldn’t care as much about where it came store wise as she would where it came from heart wise. That’s what’s important
I wouldn’t care at all. It’s the quality of the ring / diamond that matters, not where it was purchased!
I wouldn’t care if it came from a Costco type store (I think the equivalent in terms of social standing in the UK would be Argos). However, I have sentimental ties to a an area that specialises in jewellery manufacture, and ethical issues with diamonds in general.
On the whole, I’d rather be involved in the selection – which is normal in my circle. I’m not as bothered by the stone itself as long as the ring is platinum, and suits me. I think I’m probably slightly unconventional?
I think people are just wasting their money buying an engagement ring from Tiffany. It’s all about the quality of the stone, you can get so much stone from a wholesaler for the same price you’d pay at Tiffany. The whole setting argument is silly, any good jeweler can copy and duplicate what’s so called the “Tiffany setting”. I don’t care my ring didn’t come from Tiffany and if my husband was able to find a quality stone at Costco, all the power to him!
Personally, I wouldn’t mind knowing that my ring came from somewhere like Costco or Walmart (it didn’t – it came from Friedmans actually). To me, a ring is just a symbol, and as long as it doesn’t turn my finger green, then I’m ok with it!
I can think of a few other places, like Harry Winston’s for example, that have the same cachet as Tiffany’s. In answer to your question, though, if I loved the ring, I wouldn’t care where it was purchased. In fact, the excess of Tiffany’s would more likely be a problem for me. The only thing I would have a problem with, along this same vein, is if it was represented to be something other than what it was. A Costo ring in a Tiffany’s box, a “real” diamond that was actually a simulated one, you get the idea!
My wife is pragmatic enough to recognize quality wherever it would come from. However, I actually bought her engagement ring diamond from a close friend at the time, who was trained to be a jeweler (but was otherwise employed). And, it’s been pretty special, because of that.
I don’t intend to have any idea where my (future) fiance bought my engagement ring. I don’t care if the ring isn’t expensive or ginormous, but I’m not going to lie: it would bother me to know it came from the internet or from Costco (or Wal-Mart, which also sells them).
I would proud that I was marrying such an intelligent man. I would feel secure knowing my husband-to-be will be wise with our financial security.
he got my ring online. he could have proposed with a twist-tie for all i cared, and i would have been ready to die of happiness anyway.
My husband bought my engagement ring online at Mondera. I don’t love it because of the price, where he got it or how big the stone is. I love it because he spent months researching stones, comparing settings, taking me to stores to try on different cuts before picking a setting and stone separately that Mondera put together in a ring. It was the thought and the effort he put into the ring that makes it special. The ring just happens to be a visual representation of the love behind it.
I have been researching diamonds with my bf for a few months. We are practical with our money and I’d hate to see him get ripped off. Quality is definately number one and if any of you have looked specifically at the specs of the diamonds that are sold are Costco, I think the prices are beyond comparable to what you would find at a jewellery store. For example: On the site right now you can buy a
.72 carat cushion cut( like princess but soft corners)
D color which is colorless( best on the scale) VS2 clarity( very slightly included)
18 k white gold for $3999.
I think that’s a good price, but it depends what you’re looking for and how much research you’re willing to put in. They also have a fantastic return policy , although with jewellery in order to return it has to be appraised and checked by a gemologist to make sure it’s the same stone being returned)
Also , each diamond is GIA grading.
So to answer the question, I wouldn’t care where my partner got the ring from – as long as I know he didn’t get taken, and got his moneys worth!
Good point Michelle! You want to marry a smart man who gets his moneys worth!
If you look at the specs on the diamonds Costco sells, they are far better than most mainstream jewelry stores you’ll find, and at very attractive prices. Most places will sell you a $800 ring for $3000, and you’ll walk away thinking you got a great deal. Costco sells a ring for $3000 that has nearly that much value. So if it bothers you that your ring came from Costco, you’d better not look at the specs on the ring on your finger. Chances are, you paid more and got less.
My engagement ring is from Costco. My husband and I researched for months. We went to numerous jewelers and many of them did not even carry the quality stones and settings that Costco did. My ring was purchased 3 years ago for $3200.00 and it was appraised at $6800.00 a month after the purchase. When I took my ring to a reputable jeweler to have it cleaned, he asked where it came from. I said Costco…wondering what the response would be. He chuckled and said that many jewelers actually purchase pieces of jewelry and/or loose stones from Costco, because the the exceptional quality of the stones. They then remove the stones and remount them in their own signature settings. It made me feel even better about the purchase. I noticed some of you comparing Costco rings with Wal-Mart and Kmart…there is not comparing. At Wal-Mart, Kmart, JcPenney, and in many cases Kay Jewelers, Helzberg Diamonds, and other mall jewelers…you can actually see the inclusions in the stone. Costco rings are colorless, and flawless or flawless to the naked eye and their clarity and sparkle is amazing. If you are against purchasing a ring or any other piece of jewelry from Costco…it is evident that you have not educated yourself properly on your investment and are looking for name instead of true quality.
Rebecca – I’m curious to hear more from you – as you do have a ring from Costco. I’m in the research stage with my BF right now, and the more I read, the more I am open to a Costco ring. Have you had any trouble taking your ring into local jewelers for any servicing/cleaning/tightening of the setting? That’s my biggest concern.
Also – to anyone. What is your take on the extended warranties from the jewelers? I feel like they’re kind of a rip-off, but want more thoughts on this for my own sanity. Thanks!
I think the extended warranty really depends on your situation, the cost of the warranty, and what you receive. In my case, I got a very good deal on the warranty. I ended up buying a loose diamond, then having it mounted at a local jewelry store. The service for mounting was going to cost around $40, and for a total of $60 I received a lifetime warranty that includes free rhodium plating as often as I like. (The setting is white gold). So for $20, I get a lifetime of service that would have cost probably $50-60 per occurence. Not a bad deal. My situation may not be the norm, but I would not turn down a warranty out of hand…it could be a great value.