$1 Million Costco Diamond May Make Tiffany's Obsolete

For many, a trip to Costco means feeling like you have just been fleeced out of a million dollars. The big box discounter may save you a bundle by buying in bulk, but you pay a whole lot up front. It seems they are now taking that same approach to marriage.

The $1 million Costco diamond engagement ring is perfect in cut and clarity and will save the buyer about $600,000 off what the diamond is worth. But, then again, it's from Costco.

According to Costco there's only one of these special 6.77-carat diamond rings, so if you want it, act fast!

Weird though it may seem to buy a diamond in the same place you buy bulk ketchup and coffee, the company has been selling engagement rings and high-end jewelry for several years now, and tends to be the place to shop even for those with the cash to shop elsewhere.

But would you really want your diamond to be from a discount chain?


I can think of many, many ways I would rather my husband spend $1 million than on a diamond for me, but if we were the kinds of people who would spend that kind of dough on a piece of jewelry, I would feel pretty proud of saving more than half a mill.

Contrary to what many believe about those with money, the truth is they have their money BECAUSE they're careful with it. More often than not, the wealthiest people do try to save money. And yet, this still seems odd.

Shopping for diamonds is an experience that is fraught with tradition, some bad and some good. There is the whole "three months of salary rule," which may or may not be BS, but any smart shopper knows they're a total ripoff. Even if you have $1 million burning a hole in your pocket, you aren't going to get a $1 million diamond if you shop at Tiffany's. You're paying a huge premium for the name. So why not have a better diamond at the same price?

You would be a fool not to! And if anyone ever gives you grief that your diamond is Costco while theirs is Tiffany's, you can just point out that you're using your $600,000 to actually improve the 50+ years that come AFTER the engagement.

Costco $1 million engagement ring? Yes, please!

What do you think of this ring?


Image via Costco

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