Costco review

Costco is the value play for diamond jewelry. Its buying guide guarantees that every diamond it supplies is VS2 clarity or better and I color or better on the GIA scale, which rules out the low grades common at mall chains. Jewelry with a center diamond of 1.00ct or larger comes with a GIA Diamond Grading Report, and smaller stones come with an Article of Description written by a Costco gemologist; all of its gemologists graduated from a GIA program. Its general return policy guarantees satisfaction on merchandise, but a diamond over 1.00ct must come back with its original IGI or GIA certificates and is refunded as a Jewelry Credit Memo. The catalog covers diamond, gold, gemstone and pearl jewelry plus an engagement rings under $2,000 section, and Affirm financing on orders of $400 or more gets 2% off APR. Prices did not load in a checkable form here, so we left them pending.

Who it is for

members who want graded diamonds at warehouse prices

Price

See vendor pricing (USD check pending).

US price check pending. See the vendor pricing page.

Key features

• Every diamond guaranteed VS2 clarity or better and I color or better on the GIA scale
• GIA Diamond Grading Report with jewelry that has a 1.00ct center diamond or larger
• Costco Article of Description written by a Costco gemologist for diamonds under 1.00ct
• Gemologists who all graduated from a GIA program inspect color, clarity, cut and carat
• 2% off APR with Affirm on orders of $400 or more

Strengths and weaknesses

• Strength: Clear minimum quality floor for every diamond it sells
• Strength: Satisfaction guarantee on merchandise under Costco's general return policy
• Strength: Engagement rings under $2,000 section for budget ring shoppers
• Weakness: Returns of diamonds over 1.00ct need the original IGI or GIA paperwork and come back as a Jewelry Credit Memo
• Weakness: Prices did not load in a form we could check, so USD prices are pending
• Weakness: Smaller design range than a dedicated jeweler

Key facts

• Diamond floor: VS2 clarity, I color or better
• Lab report: GIA report for 1.00ct+ center stones
• Under 1.00ct: Costco Article of Description
• Financing: 2% off APR with Affirm on $400+
• Price check: USD pending

Where it ranks

Costco is No. 3 in our Best Places to Buy Fine Jewelry verdict and No. 6 in Best Places to Buy Sunglasses.