Costco Edges in on Luxury Market with Fancy Yellow Diamond Ring
February 23, 05Watch out Tiffany. Harry Winston – watch your back. There's a new face in the luxury jewelry market and it's none other than Costco, the biggest wholesale club operator in the U.S. which is offering a fancy yellow diamond ring for $180,000 on its website.
Costco said the ring is the most expensive piece of jewelry it has ever offered for sale, although it did recently sell a 1.44 carat pink diamond ring for $98,000.
The diamond ring features a 10.61 carat fancy intense yellow, VS2, radiant cut center stone, with yellow and white pave diamonds set in the platinum and yellow gold band to make a total weight of 12.19 carats. The diamond is certified by the International Gemological Institute (IGI).
But if you thought $180,000 was a lot of money, then you should know the ring is selling at a discount of $84,000 since the IGI report estimates the value of the ring at $264,765, which is closer to the price luxury jewelers would sell such a piece.
So if clients are looking for an impressive yellow diamond ring and think a discount of almost a third sounds fair, then Costco is the place where they might be heading.