Headlines

Costco Sells $600,000 Diamond Engagement Ring

It’s described as a cushion-cut 10-carat solitaire.

Published

5 years ago

March 8, 2020

INSTORE Staff

Someone bought a diamond ring from Costco for $600,000.

Richard Galanti, chief financial officer for the company, talked about the purchase in an earnings call last week, explaining that “we recently sold another high-value large-carat diamond for a little over $600,000.”

He then added: “If anyone is interested, please give me a call.”

The New York Daily News reports that the ring was a cushion-cut 10-carat solitaire. But it’s not clear who bought the piece or where the sale took place.

It’s not the first major jewelry purchase that Costco has announced. Last year the company sold a $400,000 ring.

The Daily News notes that the retailer “is known for carrying attention-grabbing, high-priced novelties.” That’s in addition to vast amounts of more mundane consumer goods such as food, electronics and furniture.

Read more at Business Insider

INSTORE Staff

Since launching in 2002, INSTORE has won 89 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

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