Costco offers it for $2,400. That comes in under James Allen’s offer of a similar ring for $2,890. But there’s a catch.
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Costco’s offer for $2,400
It’s Costco item number 973597.
You can see it live at Costco, unless and until it’s sold out.
James Allen offers a ring with the same diamond specs for $2,890
Is paying $490 more worth it to get a GIA diamond grading report?
Are you just paying $490 for a piece of paper?
Not at all. Knowledgeable buyers would consider paying $490 more for the sure knowledge that comes from a GIA diamond grading report.
- When a GIA grading report says the color is I, and the clarity is VS2, then you can know that it’s absolutely true. (GIA gemologists grade diamonds without knowing who sells them.)
- When you look at a GIA grading report before purchasing, you can see the gemologist’s diagram of where the inclusions (flaws) are. (If the inclusions are in the middle of the “table” (the top) of the diamond, that’s not good, for example. If they’re close to the edge, and perhaps in a place where a prong would obscure them, that’s good, for example.
- Even more important, when a GIA diamond grading report says the cut quality is “Excellent,” then you can know that the diamond will sparkle as it should — a lot. Cut quality is most difficult to judge, for laypeople. If you get a diamond with poor cut quality, it will look a little dull, even in light. That’s the exact opposite of what you want in a diamond.
- When you buy a diamond without a diamond grading report, you have to decide: “Do I 100% trust the seller of the diamond to vouch for, and accurately grade, the cut quality, clarity, color, and even the carat weight?”
What if whoever (truly whoever, because we just don’t know for sure) grading the diamond fudged the grade a little? I’m not saying anyone at Costco would ever do that. But theoretically it could happen somewhere.
What if whoever grading the diamond was not expert enough to grade it accurately? I’m not saying this would ever happen at Costco. But theoretically it could happen somewhere.
But these kinds of doubts make up the whole reason the GIA, and other 3rd-party diamond grading entities, sprang up in the first place. Sellers have a virtually irresistible temptation to exaggerate, since that means higher prices. Some sellers also don’t have the expertise to accurately grade a diamond.
How to get the James Allen deal
Getting the deal at Costco is easy. You just add it to your cart and buy it.
James Allen sells diamond rings that you build yourself, so it’s very slightly different. It’s easy to get this deal:
1. Select this platinum pave setting for $1,670.
2. Go to my pre-set James Allen diamond search results and select a diamond from the first 2 or 3 diamonds in the list. (James Allen diamonds are unique, so I can’t of course send you straight to a specific diamond. It would sell out quickly. Also, of course the inventory is always changing, so you may see slightly different prices when you search.)
3. For even greater savings, click the “Lab-Created Diamonds” filter. (Use my pre-set Lab-Created Diamonds search results.)
4. Combine a diamond you like with the setting you chose, and buy your ring. (Hurry because every diamond is unique. Anyone could buy it before you do.)
The Costco diamond ring’s specs, explained
Diamond Certificate
There’s no diamond certificate noted on the product page. Usually at Costco, it’s noted front and center. The fact that they don’t list one here? That’s a deal breaker for me, personally, with any diamond in this price range.
People new to shopping for diamonds (and that’s almost everyone shopping for diamonds, so never worry about asking questions) have asked me,
“Didn’t they just forget to note the diamond certificate on the page? Surely there is one?”
In my opinion, it’s highly unlikely that’s an accident. That they meant to note it but overlooked it. Diamond certificates / grading reports are a big selling point.
Shape
It’s a Princess Cut.
Carats
The center stone is 0.7 carats. The total carat weight is 1.05 carats.
Clarity
It’s said to have VS2 clarity. There is no diamond certificate from a third party such as the GIA, IGI, or AGS to vouch for that.
Also, we can’t look at the diamond directly, at Costco. (You can at James Allen examine any diamond before buying, via their super zoom 3D imagine.)
You can’t even look at a diamond grading report’s diagrams of where the inclusions (flaws) are inside the diamond. (It doesn’t have a grading report / certificate.)
Color
The color is “I”.
That’s on the lower half of the “Near Colorless” scale.
Cut Quality
Cut quality isn’t stated or described, even in the product page specs. That’s a huge red flag for me personally. They’re not even claiming that it’s of Excellent cut quality, or Good cut quality.
Plus, we can’t see it. We can’t even see a diagram of it.
This could be the biggest dud of a cut in the history of diamonds. It could be the first cut that a diamond cutter ever made on his first day on the job as a certified professional. And he could have blown it. We just don’t know.
It could also be of the highest quality cut, obviously.
But the fact that they don’t claim it has any specific level of quality of cut … that’s concerning to me.
The James Allen diamond ring’s specs explained
The James Allen diamond has the same Clarity and Color specs as the Costco diamond is said to have.
Plus, the James Allen diamond’s specs are vouched for by its GIA diamond certificate.
Carats
The James Allen center diamond is 0.70 carats. The total carat weight, including the pave diamonds, is 1.15 carats. So, the James Allen ring has the same size center stone, but slightly higher carat total in the pave diamonds.
The James Allen diamond has one more spec specified: Cut Quality. Let’s talk about that quickly:
Cut Quality
The cut quality of this James Allen diamond is said by James Allen gemologists to be “Ideal”.
Note that the GIA — and most other diamond grading labs — grades the cut quality of only one shape of diamonds: Round Brilliant.
So, there is no official 3rd-party GIA grade of any Princess Cut diamond. They just don’t attempt to grade the cut quality of a Princess Cut diamond.
However, James Allen’s gemologists (and other jewelers’ gemologists) will, just on their own authority, “grade” the cut quality of a Princess Cut diamond.
They say this one is “Ideal”. Here’s James Allen’s Cut Quality Scale. (This is not the GIA scale, obviously. But since the GIA grades cut quality of only Round Brilliant Cut diamonds, jewelers have to try to grade the cut quality of other shapes on their own. Not perfect, but better than nothing, if you trust the jeweler.)
It’s easy to get great deals on better diamond jewelry — for less money! Here’s how:
- Scroll up to the section on “How to Get the James Allen Deals.”
- Follow the easy directions there.
- Feel 100% confident that you bought the best diamond for the money
How to search this site to save up to tens of thousands of dollars at trusted diamond retailers, vs most any Costco, Kay, Jared, or Zales ring you’re considering
Search and save. You could save enough for a new compact car. Or a honeymoon. Or several expensive dinner dates. Or that guitar you’ve been wanting.
Read this very short note on how easy it is.
