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Sam's /Cosco Diamonds?


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#1 Cyd

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Posted 14 November 2005 - 08:50 AM

Are the engagement rings sold at Cosco or Sam's wholesaller,quality rings?
How are they verified?

#2 James Allen

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Posted 14 November 2005 - 11:07 AM

Cyd,

I don't know much about the rings myself, although I think I heard that they don't have GIA reports and there is little to no information available about the "cut" of the diamonds. If you know either of these facts to be untrue please let me know!

When the veracity of the grading is uncertain and cut information is not available it becomes difficult to truly judge the "value" of their rings or diamonds.
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#3 denverappraiser

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Posted 14 November 2005 - 03:27 PM

I'm not sure abut Sams but for the Costco 'large stone' department, I think they are brokering for a bunch of outside dealers. It's very similar to what the online 'virtual' dealers are doing with the added feature that you can have the stone shipped to a warehouse in your neighborhood where you can go to look at it. You can request pretty much anything you want, including GIA or AGS grading and they will try pretty hard to get it for you. As with everything else they sell, don't expect much in the way of personalized service and don't expect the warehouse personell to know anything more than the location of the bathroom. The people who answer the phone are pleasant and reasonably knowledgable but they don't have any diamonds on hand so it's hard for them to answer probing type questions. This is sort of like when you ring up most of the online houses. Sometimes they can get additional information, but not usually. You can always order in a stone, get it appraised yourself and then decide to return it if you don't like the results. This also is pretty similar to the way the websites do it. They have a very agreeable return policy if you decide after the fact that you don't want it.

The items in their showcase at the warehouse are the same things that you see at Walmart, QVC and the other big chain stores.

Neil Beaty
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Neil Beaty
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#4 ben

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Posted 29 November 2005 - 11:49 AM

I read somewhere that the biggest seller of diamonds these days is Walmart/Costco! Yes, unrelated to the original topic but I thought worth mentioning. :rolleyes:

Back on topic, the diamonds I've seen at my local Costco are all IGI certified. This is less than the GIA or AGS certification that the "real" gemologists advocate. Take that for what it's worth and read up on the differences so that you know what you're buying.
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#5 los.angeles.ca

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Posted 29 October 2009 - 04:00 PM

Are the engagement rings sold at Cosco or Sam's wholesaller,quality rings?
How are they verified?


We purchased a large diamond ring from Costco and felt pretty confident with it for over a year, but later started reading some things online about Costco stones being overgraded and/or being graded by substandard graders. This turns out to be true after I researched it a bit more. Costco diamonds generally come with IGI or AGS certificates rather than the more respected GIA (Gemological Institute of America) grading and certification. Anyway, we brought our $70,000 diamond that we purchased from Costo into GIA laboratories in Carlsbad, CA and paid for expert grading and color analysis and they told us that our stone was not 'colorless' like we paid for. Needless to say, grading makes a huge difference in price and I immediately took it back to Costco for a refund and their store manager refused. I asked them for the contact information for someone higher up. I always thought that Costco had a liberal return policy, but I was told by Mark Maushund (VP of Costco) that it was a large purchase and they didn't want to lose the sale. It's kind of hard to believe that he would tell me that and that we are now stuck with the diamond ring. I guess it just boils down to business and money. Buyers beware! I would highly recommend that if you bought an expensive diamond from Costco, that you have it sent in to GIA to be regraded so that you can know what you really bought.

Edited by los.angeles.ca, 29 October 2009 - 04:01 PM.


#6 denverappraiser

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Posted 29 October 2009 - 05:18 PM

los.angeles.ca,

Given the facts as you have stated them I would seriously consider taking legal action. At least around here their return policy does not have an exclusion for expensive things ... If you are unhappy with your purchase you are entitled to a refund.

I'm curious. 'Colorless' is not a GIA grade. What grade did they give it? Who was the other lab and what grade did they assign?

Neil

Edited by denverappraiser, 30 October 2009 - 06:17 AM.

Neil Beaty
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There's never a crowd when you go that extra mile.
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