You’re used to getting killer deals on groceries and home items at Costco. So you may expect the same value to hold true with their diamond offers. Go ahead and look! (Just don’t buy yet. You’ll be glad you didn’t.)
Welcome back. 😉 The prices look … not bad, right? Don’t go for it, because the alternative prices elsewhere may shock you. Don’t make the mistake that thousands of people make, buying diamond rings at Costco without knowing what you can learn in this quick blog post.
The Logic
It seems right: Costco has deals. Costco sells diamonds and diamond jewelry. Therefore Costco’s diamond deals must be pretty good.
Well, no. I’ll give you 3 reasons you shouldn’t buy diamond jewelry at Costco. And I’ll show you some specific, much better alternatives: how to save literally thousands of dollars while finding the exact diamond ring of her dreams. That’s not hype. It’s real. Pics prove it below.
1. Costco’s prices get mowed down by these retailers…
Costco’s prices, in my experience, come in higher than online retailers such as James Allen and Blue Nile, when you compare based on hard data diamond specs from organizations such as the GIA, IGI, and AGS.
Here’s the proof
Here’s the proof I bring. At that link, you’ll see diamond fight after diamond fight between Costco and, mainly, James Allen. What may shock you is who wins: James Allen, in almost every case.
How does James Allen beat the mighty Costco on price time after time?
By being experts, for one thing. Costco sells everything from tires to potato chips. And more. They can’t be expected to focus well enough on diamonds to beat the expert buyers at James Allen.
Secondly, James Allen built an Internet diamond-selling machine from the ground up. That means all kinds of efficiencies. Naturally they can beat the prices of a big box brick and mortar store.
2. Customer experience of buying a diamond at Costco is … about like buying a month’s supply of toilet paper
No offense to Costco. They never set out to offer expertise, guidance, diamond ring maintenance, etc. They just let you click and buy a diamond ring. It’s all up to you.
But that’s … awful from a customer’s point of view. Or at least, it’s lacking. What if you have a question? What if you have a problem? What if you need a prong fixed? Your only option seems to be to the following. A) Find a local jeweler to help you out. (And they’re gonna love the fact that you bought the ring from Costco, and give you white glove treatment hmm.) or B) Return the ring, supposing it’s still within the return window.
Those are unacceptable to anyone who knows their true options.
Options include …. A) overpaying for a ring from a local jeweler or B) Getting better diamond, with much better service, for a much better price from an online retailer such as James Allen or Blue Nile, or Brilliance.com, or others. (James Allen beats them all in my experience, as you’ll see in price compare after price compare on this site. Yes I’m an affiliate. But the hard numbers speak for themselves, in each review.)
James Allen’s service
James Allen’s service before, during, and after the sale is exceptional. There’s no comparison, no contest, from Costco. Look at ALL THAT YOU GET from James Allen, and for a LIFETIME, much of it.
3. Some Costco diamonds aren’t certified by the GIA, IGI, or AGS.
You should never buy a diamond which does not have a certificate from the GIA, IGI, or AGS. Full stop. It’s like buying a thoroughbred horse without any papers. You don’t know what you’re getting, without a trusted diamond lab’s certificate.
True, Costco diamonds without a certificate may come with an “appraisal” or some “documentation” as to what Costco says about the diamond. But that doesn’t mean they have graded the diamond accurately. Even if it’s written by a gemologist who has, perhaps, been trained by the GIA, for example. Only an official certificate from the GIA, or IGI, or AGS, counts.
On the other hand, all the loose diamonds I’ve ever seen at James Allen, Blue Nile, or Brilliance.com, are specifically certified by the GIA, IGI, or AGS.
So, as to this whole certification issue, here’s the proof I bring. You’ll in those examples that, often enough, certification is lacking.
Both selection and prices are much better at these Costco alternatives
Unless this is your first day of shopping for diamonds, you won’t be surprised at the names of the retailers.
But you may be shocked at the detailed, head to head comparisons … with the Internet retailers coming out on top in almost every case.
Will Costco win any of these contests? Or is it a total shutout?
And these aren’t cherry picked. They are very common, standard examples of classic diamond engagement rings. Each comparison is done across diamonds of almost exactly the same grades, from exactly the same lab — the GIA. So this is the best apples to apples comparison of diamond prices on the Internet … that we know of. 😉
You’ll be hard-pressed to find any comparison which Costco wins the #1 spot in price. I didn’t, and I looked very hard. Beyond price, Costco can’t hope to compare in terms of service.
The good news is that you don’t even have to decide between great prices and great service. See these examples to know exactly why.
Your mileage may vary SLIGHTLY in the prices in the examples below. Here’s why.
Every diamond at James Allen and Blue Nile is priced individually. The specific diamonds I found (using the searches I link to) will likely be gone by the time you shop from this page.
BUT I linked to SEARCHES, not to specific diamonds. So when you click the links, you will see very similar, if not virtually identical, diamonds in beautiful arrays of search results. (At Blue Nile, you’ll have to adjust your search filters manually. But at James Allen, I use their functionality to embed the search terms into the URLs — that means it should all work automagically.)
Example #1: Costco 1-Carat Pear Shaped Diamond Engagement Ring vs Alternative Pricing
I grabbed all of these examples first from Costco. Then I went to James Allen and plugged in the same specs. And found much better prices easily. The proof is right in the pictures here.
First, look at this Costco pear-shaped diamond: $4,599.99.
Strangely, they say GIA and IGI certificates are included. What they mean, I think, is that you may get a GIA certificate or you may get an IGI certificate. But you can’t choose. (That’s actually a big deal, a problem. You really should have the right to know which lab is grading your diamond, in my opinion.) No one gets the same diamond graded by two different labs.
Now, an alternative priced pear-shaped diamond ring with the same specs. From James Allen. MUCH LESS than the Costco ring.
This diamond is IGI certified. (You can see the logo of the IGI just under the main photo of the ring.) This diamond is hundreds less than mighty Costco, too. Plus you’ll have much better service before, during, and after the sale.
- Get my customized search page at James Allen displaying GIA-certified diamonds with the grades of the diamond pictured above. Or just click the image above.
- (Then you’ll then just need to add the platinum ring setting pictured.
Another alternative priced pear-shaped diamond. This one from Blue Nile isn’t as great a savings as James Allen’s (see just above). But it’s a better choice than the Costco, based on service.
Example #2: Costco 1-Carat Cushion Cut Diamond Engagement Ring vs Alternative Pricing
Look at this Costco cushion-cut diamond for $4,999.99.
This one has a GIA certificate. So that’s good. At least with this one, you know that the specs you see listed are real!
But what do you think happens when we compare the price of this Costco ring to a diamond ring at James Allen … with a GIA certificate for identical specs?
James Allen easily beats Costco on this cushion-cut diamond. It’s $3,575. Same quality ring. Much better service. Hugely better price.
- Get my customized search page at James Allen displaying GIA-certified diamonds with the grades of the diamond pictured above. Or just click the image above.
- (You’ll then just need to add the platinum ring setting pictured.)
Now the Blue Nile price on this cushion-cut diamond. They win this contest against Costco. But not against James Allen.
Example #3: Costco 1-Carat Round Cut Diamond Engagement Ring vs Alternative Pricing
Look at this Costco round-cut diamond: $7,999.99.
Next, the alternative priced round-cut diamond. Only difference in specs list? 1.00 carats instead of 1.05 carats. Insignificant.
Again, this is a very similar diamond, with specs from the same grading lab that are almost identical. It’s very very slightly smaller. Unnoticeable imo. But it’s $1,100 less than the Costco diamond. You’re welcome.
- Get my customized search page at James Allen displaying GIA-certified diamonds with the grades of the diamond pictured above. Or just click the image above.
- (You’ll then just need to add the platinum ring setting pictured.)
Blue Nile’s Alternative Price: not a winner
Example #4: Costco 1-Carat Emerald Cut Diamond Engagement Ring vs Alternative Pricing
Costco’s price: $5,499.99.
Now have a look at some alternative pricing. James Allen for $5,215.
- Get my customized search page at James Allen displaying GIA-certified diamonds with the grades of the diamond pictured above. Or just click the image above.
- (You’ll then just need to add the platinum ring setting pictured.)
Finally, the Blue Nile price: $5,876. (As always, I report the best prices I can find for diamonds in a given spec range.) Blue Nile is not a winner in this case, and you can see why.
Example #5: Costco 1-Carat Oval Cut Diamond Engagement Ring vs Alternative Pricing
Costco’s price: $6,999.99. How will that stack up to the alternatives below?
Again, we’ll compare apples to apples on diamond pricing from Costco vs alternatives (with much better service). GIA-graded, and all the specs about the same.
(By the way, as with all the diamonds on this page, Costco’s has no fluorescence, so I compare only to other diamonds with no fluorescence. For the James Allen links, I even build that into the search terms embedded in the URL. So all the Costco and James Allen diamonds I picture on these pages have no fluorescence. Which is a good thing, if you’re wondering — it means your diamond won’t glow blueish in the sun.)
James Allen’s price for the same specs, from the same grading lab (GIA): $5,665 on this diamond.
You can find many excellent prices like it using the search URL I’ve built into the image below.
- Get my customized search page at James Allen displaying GIA-certified diamonds with the grades of the diamond pictured above. Or just click the image above.
- (You’ll then just need to add the platinum ring setting pictured.)
Now for Blue Nile’s entry: $6,879. Better than Costco. But not better than James Allen.
Like the other two diamonds in this example, it’s a GIA certified diamond. And the specs are virtually the same, with only tiny differences in size. Clearly there’s a winner for the savvy shopper: James Allen (see the image above.)
Example #6: Costco 1-Carat Princess Cut Diamond Engagement Ring vs Alternative Pricing
First, the Costco entry: $5,499.99
As with all the rest, this one has a GIA grading report / certificate. And when we compare, as always, we’ll compare apples to apples — we’ll compare to diamonds graded by the GIA to have the same specs.
The James Allen diamond ring, which is virtually identical: $5,107.
As usual, I filter for zero fluorescence, as well as for all the specs listed in the GIA grading report for the Costco diamond. And I find, for you, a GIA-graded diamond of virtually identical specs, at James Allen. And boy do you save some money on this everyday deal.
- Get my customized search page at James Allen displaying GIA-certified diamonds with the grades of the diamond pictured above. Or just click the image above. 2.
- (You’ll then just need to add the platinum ring setting pictured.)
Conclusion: Costco is not the best choice for diamond engagement rings. Not anymore. You’ve seen the best alternative.
The obvious conclusion is inescapable: Costco diamond engagement rings aren’t the best choice. They’re not even the least expensive. Beyond Costco’s loss in the diamond ring price wars right now, Costco’s service is essentially nonexistent, compared to James Allen, Blue Nile and other established internet retailers of diamonds and rings.
These examples aren’t cherry picked. Each ring is a very common style, and in each case James Allen or Blue Nile wins out on price. (And almost always the winner is James Allen.)
So although Costco had its moment as a retailer of diamonds (say 15 years ago when they were killing the prices at brick and mortar jewelers in your town), the moment has passed.
The best stores are now Internet retailers, for selection, searchability, service, and price.
