Luxury News from Luxist - Fine Living, Dining, Apparel, Travel, Estates, Shopping

Hilary Moss

Costco Selling $1 Million Diamond Ring

by Hilary Moss (RSS feed) — Apr 11th 2011 2:10PM

96-count package of toilet paper? Check. A massaging recliner chair? Check. A casket? Check. A $1 million diamond ring? Why, check. Check, indeed.

The Consumerist points out that everyone's favorite discount store, Costco, is now shilling a 6.77 ct solitaire. Yes, there's only one available, but like everything else lining the store's shelves, the piece of bling is being offered at a steep price reduction -- original IGI (International Gemological Institute) value: $1,601,875. That's over $600k in savings (roughly one million rolls of toilet paper if we did the math correctly, and there's no promises we did).

Aside from wondering who will buy the hunk-o-jewelry, we are curious about what's going on chez Costco these days.

Just last month, the mass-market retailer announced it would be collaborating with designer Kirstie Kelly on a collection of six wedding dresses, priced from $699 to $1,399. Costco: your one-stop wedding destination? Or your wannabe bridal salon?