- 7 years ago
Hi everyone, I’m writing this post in hopes it helps other people looking to stretch their dollar when it comes to their engagement rings! This was information I was searching for when I first got engaged and couldn’t find.
When fiance and I first started shopping for a ring, we knew we wanted a 3-stone ring. Fiance is an artist, and places a high premium on good design. I, on the other hand, value saving money, and my first thought was, “Let’s go to Costco,” because Costco sells really high quality rings for comparatively low prices
Fiance objected that a) Costco was unromantic (I’m not romantic, so I was ok with this) and b) Costco’s 3 stone rings simply weren’t as beautifully designed as Tiffany’s.
However, at Tiffany’s, a 3-stone ring totalling just under .75 carats was $7000 before taxes. At Costco, a 1 carat 3-stone ring was $3000, and a 1.5 carat 3-stone ring was $5000.
In the end, we compromised: buy a Costco ring and reset it. (We also went to a few local jewelers, and discovered that a single .5 carat stone of the grade we wanted was around $2900, so Costco was a much better deal.)
We ended up purchasing a wedding set from Costco online: wedding band I loved (only needed to be resized), and a 3 stone ring which according to Costco website, had a .6 carat center of VS2 clarity and I color. Total carat weight of the ring was supposed to be around .9. Total: $3400 including tax.
Fiance designed a ring using the elements that he most apprecated about the Tiffany design, as well as a few additional things. (Tbh, I didn’t care about the details, and I trust his taste absolutely). Total came to $1600k for the new ring (the old ring we sold back to them for $150). The process took awhile (it was supposed to take a month, but ended up taking 2; our amazing jeweler gifted me with a pair of sapphire earrings to apologize for the delay), but the end results are worth it.
Total cost for engagement set: $5000. Not only $2k cheaper than the Tiffany option, but bigger.
In addition, I just received the appraisal: all three stones are VS1 and F color (much nicer than what Costco advertised it as.) The center stone is .65, not .6, and the total carat weight is 1.05. The engagement ring alone is appraised at $7000.
In short: I 1000% recommend Costco for buying diamonds, and if you aren’t satisfied with their settings, get it reset! Of course it costs (and $1600 isn’t free!) but it’s still a great deal.
Disclaimer: of course, if a Tiffany’s ring is worth it to you, absolutely go for it!! It would have been nice if we could afford it, but this was a cost-effective way to get what we wanted without going over budget.
Further ways to save at Costco, if you’re interested:
– Costco florals: we’re doing our flowers for $400
– Costco alcohol: the restaurant we’re holding our small dinner reception in marks up its sparkling wine 3x. Even with corkage fees, buying the Veuve at Costco for the champagne toast will save us $90/bottle.
– Invitations: $17.95 for 25, including envelopes (not including RSVP cards, though)