Costco Engagement Rings vs James Allen - Round 2!
Updated on September 2021 to show up-to-date product comparison.
Costco Engagement Rings vs. James Allen - Round 2
After recently performing a comparison between Costco and James Allen, several issues came to light. You can read our first attempt at this comparison here (Costco vs. James Allen Rd. 1) and see how a general lack of information regarding our Costco sourced diamond impeded a full apples-to-apples judgment. After that first round, we posted a separate article (The Truth Behind Costco Engagement Rings) detailing Costco's practices and wording, which may confuse or lead a potential customer astray. After all this, though, we still don’t have a full-on “if the diamonds are essentially equal, who is cheaper” result.
That’s what Round 2 is for!
We’re going to jump right into this. Unfortunately, we need to pick a very expensive diamond to bring a full GIA Certification from the Costco website to perform this comparison. I’m not sure why Costco doesn’t provide this information on their website, as it is as simple as uploading the GIA report. But they don’t. While we tend not to go with rings that are so expensive since they are beyond the means (and sanity) of most, we need to get to the bottom of this, so here we go.
Costco Engagement Ring
We pulled up a lovely Emerald Solitaire Engagement Ring from the Costco website, which has a complete dossier. This beauty chimes in at $47,999, so you’d better hope she brings with it all the bells and whistles.
Costco’s Emerald 3.02 ct VVS2 Clarity, G Color Diamond Solitaire Platinum Ring
Costco’s Engagement Ring retails for $47,999.99 and features the following specifications:
Shape: Emerald
Carat: 3.02 ct
Clarity: Very Very Slightly Included (VVS2)
Color: Near Colorless (G)
Cut: Excellent
Polish: Excellent
Symmetry: Excellent
Fluorescence: Faint
The ring’s solitaire mounting allows us to easily duplicate it at James Allen.
James Allen Engagement Ring
Since the diamond in this Engagement Ring is the primary cost driver, we started by choosing the exact same specifications at James Allen and came up with 2 Emerald Diamonds. Prices for these range from $44,820 to $49,670.
Why do we see a $5,000 range? These diamonds are so expensive that any slight imperfection can affect their pricing. While they all have a VVS2 rating, the exact location of the inclusions can have an effect. In this case, the slightly more affordable diamond has a few more surface inclusions than its more expensive counterpart. Plus, the L/W ratio of the first is somewhat on the long side. However, we recommend the cheaper diamond, as the inclusions are less pronounced and the longer aspect is closer to the more classic Emerald shape. With this in mind, we feel this would put the three rings on a relatively level field.
As a bonus, rings in this price range from James Allen have the cost of the ring mounting baked into the cost of the diamond (if above $30,000). So the prices of these two rings are all-in at this juncture.
The Final Result!
Finally, we can make a full apples-to-apples comparison between these two. The Costco Engagement Ring comes in at $47,999, while the James Allen ring costs $44,820. This puts the James Allen ring over $3,000 cheaper. So you are saving quite a large amount of money. But, even if they were dead even, should you go out and get the Costco ring?
No… And here’s why.
Sizing: Costco’s ring only comes in one size, a 7. Why? It’s the only one they have. This tends to be the case with Costco Engagement Rings, as their higher-end offerings will come mounted already. While this can be resized, Costco makes it clear that it is out of their hands. James Allen, however, offers hundreds of mounting options. Most of the ones you can choose can be ordered anywhere between a size 3 to a size 9.
Taxes: This is a big one. Remember that Costco has locations throughout the United States. As such, you’ll be paying taxes on that $47,999 ring. As an online retailer, James Allen can offer its buyers a tax-free experience in a number of select States. So how much are the taxes on a $47,999 ring? Right around $3,300.
That, in our book, makes buying at James Allen the more prudent and wise decision.
In summary, Costco shouldn’t be overlooked when shopping for an Engagement Ring. They offer very competitive pricing and, by all accounts, are an excellent retailer with consumer-friendly policies. However, as we detailed in our first two installments (Round One & The Truth About Costco Engagement Rings), there are pressing issues that must be addressed. As a price-conscious buyer, you need to know these details so you go into this transaction with your eyes wide open.
Until then, would you like us to help you with your diamond ring search? Contact us, and we will provide you with a one-on-one service that will get you the best diamond available!