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Is It Worth 2299$


Happysoul
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Hi,

 

I am planning to buy this ring for myself (item no 636091),the details are mentioned below , do you think its worth the price?

 

Ring details :

 

center diamond : -50ct

side small 24 diamonds:- .12ct

color- I or better

cut- Brilliant (center diamond)

clarity- vs2 or better

 

link for the ring is : http://www.costcoconnection.com/connection/201204#pg25

 

It says the appraised value of diamond is 3530 $ if lost or stolen and it is certified by GIA. since it is less then 1 carat costco doesnt provide any other details.

 

Thanks in advance for the advice.

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There isn't enough information to give you anything more than a guess, but here are some thoughts:

 

1. CostCo is a good retailer - they describe things fairly, and have a good return policy

 

2. CostCo is not a jeweller, and their expertise lies in sourcing things cheaply and distributing them widely. It may be a perfectly good set of skills for providing highly industrialised/standardised goods, I don't think it's ideal for jewellery

 

3. Small details - sometimes invisible without training, tools and careful observation - make a lot of difference to the prices of diamond and jewellery

 

4. I am sceptical of "or better" descriptions. Why would people not use the "better" to claim a premium or at least to sell things more easily? My guess is that the centre stone is I/VS2 of indifferent cut quality - particularly since they provide no other information on cut. This puts its retail price somewhere between $1000 and $1200.

 

5. Is a platinum setting with some (again indifferent quality) micropave worth $1000-1200 retail? Almost certainly yes; the metal and diamonds however come to a few hundreds - the rest is labour and overheads. However, a good quality one will cost at least 50% more, meaning that some aspects of this particular setting will leave something to be desired (most likely: metal thickness; casting quality; finish/polish quality; pavé setting; pavé diamond quality)

 

6. The "appraisal" is worthless - as well as being meaningless: if it were worth $3500, they would charge that price. The fact that it is available to anyone for $2300 doesn't come out of the goodness of their heart..

 

In all - I don't think you'd be ripped off if you bought it. Whether it stands up to your expectations and whether it is a quality item are completely different questions.

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I’m a pretty unapologetic fan of Costco and I shop there regularly. I actually prefer to buy from them over their competitors for most things because of their return policy but I agree with Davide that I’m not sure I would buy jewelry there (maybe a loose diamond). Their niche is selling good stuff cheaply. They do that well. I just bought a new printer from them for example. They didn’t make it, they don’t claim they did, and if I have any problems with the product itself I’m expected to take it up with HP. If HP treats me badly for some reason then Costco will go to bat for me using the fact that they are an enormous customer and HP is almost certain to knuckle under and deal with me, even if I’m unreasonable. The system works pretty well and it applies to dog food, paper goods and nearly everything they sell. It cost about the same as if I had bought from BestBuy or Office Depot and I chose them because I find them trustworthy in terms of support and I don’t have to play games finding coupons or going in on the right day for the ‘special’. They charge whatever they charge and you can buy it or not as you like. I like that style of marketing.

 

Jewelry is little different.

 

Who made that ring? I haven’t a clue and neither do you. The folks at your local Costco don’t even know, and whoever it is certainly isn’t prepared to talk with you about it even if you could figure out who they are. If you have an issue you are expected to go back to your local warehouse and some assistant manager will do their best to help you out. That is to say, they’ll take a return and give you another one if you want and if it’s still in the catalog. They’re not even prepared to size it.

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Here's a random story about 'or better':

 

I had a client in a few weeks ago looking for an appraisal on an emerald that he bought at auction. He paid $600 for it and wanted to know if he got a 'deal'.

 

I estimated retail value at $900.

 

Usually auctions are a little better than that but overall he got what he paid for and paid a reasonable enough price for it. Then he showed me the 'appraisal' that they supplied with it. It declared that it had a 'retail value' that was 'not to exceed' $168,000. Yikes! I have no clue where that number came from but it's basically correct. 900 is indeed less than 168,000. Being correct does not make it useful, nor does it mean it's not misleading. He was clearly thinking this was the bargain of a lifetime and I'm sure the auctioneer played it up during the sale.

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I bought a platinum comfort fit wedding band from Costco. I was able to get my size (they offer sizes on wedding bands). I got it I loved it and weighed it and it weighed more than they said, inside printing perfect. I got my husband the matching ring different size. I got it and weighed it, it weighed less than they said inside printing was sloppy, not nice and neat like my ring. I called Costco and they said they would exchange it. My husband had already starting wearing it and it didn't bother him so I didn't return it I did look at their diamond selection and didn't buy from them because of the size and reading the Gia on what I was looking for they were more expensive than Blue Nile. I find some things are very inexpensive, others are normal cost and others are more expensive.

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