'You will pay at least 30% more at a luxury jeweler,” one expert said
The warehouse retailer, known for selling bargain-priced toilet paper, tampons, frozen pizzas and steaks in bulk, sold a $400,000 diamond ring last quarter.
While he did not reveal the exact ring, Costco’s website has a “Round Brilliant 10.03 carat VS1 Clarity, I Color Diamond Platinum Solitaire Ring” for $419,999.99.“It’s a very good stone,” Igal Dahan, who has made jewelry for stars, including Kim Kardashian and Elton John, told MarketWatch of the six-prong, near colorless round brilliant diamond. Dahan said it’s Tiffany TIF, +1.10% quality without the label. “They used platinum for the ring, that’s the most expensive metal.
In fact, Costco’s 10-carat ring looks similar to The Tiffany Setting Engagement Ring in Platinum, which also has a six-prong setting. Tiffany does not list a price for that ring on its website, but MarketWatch reached out to a customer service representative who estimated a 10-carat diamond in the same style would cost over $1 million. A 5-carat diamond in the same style would be priced at $257,000, they said, however prices vary depending on the type of diamond.
The Costco rings had a pronged setting, which the store claimed was “commonly known as a “Tiffany” setting,” but some display cases flat out described the rings as “Tiffany” rather than “Tiffany style” or “Tiffany setting.” Costco had to pay Tiffany more than $19 million in the trademark infringement battle.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Shockingly Large Business Behind the Iconic Smiley FaceThe trademarked smiley face symbol makes for a significant licensing business, one that is particularly successful as of late.
Read more »
Tiffany Haddish Shared A Sneaky Audition Hack And It's Equal Parts Genius And HeartbreakingTiffany Haddish Shared A Sneaky Audition Hack And It’s Equal Parts Genius And Heartbreaking
Read more »
The bell rings twice: Spelling bee competitor gets reprieveOXON HILL, Md. (AP) — The opening round of the Scripps National Spelling Bee on Tuesday had a rare bit of controversy.
Read more »
Turkey breaks up Europe's biggest human smuggling ringTwenty people, including ringleader Akbar Omar Tawfeeq, detained in operations in four Turkish provinces after a year-long investigation into the organisation, Istanbul police say.
Read more »
Jewelry Company Jumps Gun With Engagement Ring Commercial Featuring Polyamorous TriadNEW YORK—Saying the company had skipped a good five or six steps on society’s path to wider acceptance of nontraditional relationships, marketing experts told reporters Wednesday that jewelry retailer Zales had definitely jumped the gun with its new engagement ring commercial featuring a polyamorous triad. “Zales is definitely getting a bit ahead of itself with its new ‘Abundant Love’ ad—today’s consumers just aren’t ready to see a jewelry commercial like this,” said Venture Marketing brand consultant Caitlin Boyd regarding the new campaign, which depicts a man simultaneously proposing to his male and female co-primaries while presenting three identical gold engagement bands. “This could maybe fly in 15, 20 years, but TV viewers are going to need to see a number of other alternative relationships in engagement ring ads first: a non-monogamous heterosexual dyad, trans partners, at least a few biracial lesbian couples. As it stands, this one’s certainly putting the cart before the horse.” When reached for comment, a Zales representative stated that the rings, which are available in sets of three or more, can also be customized for polyamorous unions involving secondary, tertiary, or pivot partners.
Read more »
China's Huawei to sell undersea cable businessHengtong Optic-Electric said in the filing to the Shanghai Stock Exchange that it signed a letter of intent with Huawei to buy the stake via cash and share issuance.
Read more »
China's Huawei to sell undersea cable business, buyer's exchange filing showsChina's Huawei to sell undersea telecommunications cable business, buyer's exchange filing shows by SijiaJ
Read more »
America's Largest Retailer Sued For Selling Fake MedicineWalmart has been sued for medical fraud. In a lawsuit filed in the District of Columbia, the Center for Inquiry (CFI) alleges that Walmart is, “committing wide-scale consumer fraud and endangering the health of its customers though its sale and marketing of homeopathic medicines.”
Read more »
America's Largest Retailer Sued For Selling Fake MedicineWalmart has been sued for medical fraud. In a lawsuit filed in the District of Columbia, the Center for Inquiry (CFI) alleges that Walmart is, “committing wide-scale consumer fraud and endangering the health of its customers though its sale and marketing of homeopathic medicines.”
Read more »
Huawei Selling Stake in Undersea-Cable Firm as U.S. Pressure MountsChina’s Huawei Technologies plans to sell its majority stake in an undersea-cable venture, in a move that follows a U.S. pressure campaign against Huawei and efforts to block the cable venture’s projects.
Read more »