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New rival for Tiffany: Costco
The wholesale retailer is selling a yellow diamond ring for $180,000.
March 2, 2005: 8:02 AM EST
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NEW YORK (CNN/Money) - There's a new jeweler in town giving Tiffany and Harry Winston a run for their money. Costco has now entered the high-end market.

The largest wholesale club operator in the United States is currently offering a yellow diamond ring for $180,000 on its Web site.

Although Costco has always offered jewelry, "this is the most expensive piece we have ever had," a company spokeswoman told CNN/Money.

The retailer also recently sold a 1.44 carat pink diamond ring for $98,000.

In addition to the yellow diamond ring's 10.61 carat radiant center stone, the platinum and yellow gold band is set with yellow and white pave diamonds.

The total carat weight of the Costco ring is 12.19 and it is fully certified from the International Gemological Institute (IGI).

According to the IGI report, the ring's estimated value is $264,765, which is more in line with prices found at those other high-end jewelers.

Of course, Costco is famous for selling large volumes at reduced prices. This is a big rock, and at $84,000 below the IGI estimation, it's priced at quite a discount.

Come to think of it, maybe it's not such a departure for Costco, after all.  Top of page

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