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The costliest item at Costco is a $349,999.99 engagement ring. But should you really be buying jewelry at this big-box store?
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Costco is best known for helping customers keep more money in their bank accounts by offering bargain-basement prices on bulk items like groceries and personal products.
But while you may be able to reduce your spending by buying most items at the members-only warehouse club, there are some splurges there as well. In fact, the most expensive item at Costco has such a high price, it’s sure to shock you.
This is the most expensive Costco item
So, what is the most expensive item at Costco? It’s an engagement ring. But, not just any engagement ring. It’s a Radiant Cut 1.54 carat Center VVS1 Clarity, Fancy Pink Diamond Platinum Halo Ring.
Radiant cut refers to how the diamond is cut, while 1.54 carat refers to the size of the ring. VVS1 refers to how clear the diamond is, and it means it’s clear to the eye with only tiny inclusions (as opposed to flawless). And, pink obviously refers to the color.
So, what is Costco’s price for this diamond engagement ring? It’s a whopping $349,999.99. Now, that’s one costly piece of jewelry — considering that the average spending on an engagement ring came in at around $6,000 in 2022, according to an annual study conducted by the wedding website The Knot.
Should you really be buying jewelry at Costco?
A $349,999.99 engagement ring is obviously well above most people’s budget, and chances are good your credit card would be declined if you tried to pick up Costco’s most expensive item for your beloved.
But Costco has plenty of other engagement rings, including some options starting as low as $479 for diamond rings. And, if you’re interested in shopping for a partner, there’s no reason not to give Costco a look.
While the warehouse club isn’t going to offer you the same options to customize your ring as a local jeweler might, it still has many great styles available. Costco also promises all of its diamonds are natural and untreated, and it uses the same measures to describe size, clarity, and cut as any jeweler would so you’ll know exactly what you are getting.
Many of Costco’s rings also have GIA certification, which means that an independent gemstone lab has certified that the weight, dimensions, and asset measurements assigned to each diamond are in line with industry standards. And Costco’s rings tend to be as much as 50% less expensive than comparable items from local jewelers.
Be realistic about what you can afford for an engagement ring
Ultimately, what you decide about where to buy an engagement ring is a personal choice — but Costco should be one place you think about buying if you want to get good value for your money. The most important thing, though, is that you are realistic about what you can afford when you buy a ring. You don’t want to splurge just to meet societal expectations of a fairy-tale ring and then end up starting off your marriage with money stress because you went into debt for it.
Now, if your budget happens to extend to that $349,999.99 pink diamond at Costco and you want to buy the store’s most expensive product, you should be aware that the warehouse store doesn’t size rings — so be sure to save a few pennies to get that service performed elsewhere if you need it.
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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Christy Bieber has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.
