Fairfax, Virginia
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Went to buy my wife a pair of diamond earrings at COSTCO. Saw them a couple weeks ago, then went in to buy them only to find out that they raised the price from $3,999.99 to $4,299.99.

I bought them anyway (with my wife at my side), then went to the pick-up window where they found the book and paperwork. When I looked at the appraisal they provide with all of their high-end jewelry, I expected the appraisal to be higher than the purchase price, but to our surprise, the appraisal price was $3,999.99, which was higher than what we paid! So, I asked the manager about it, and said normally the appraisal is higher at COSTCO than what you pay, not vice-versa. Manager could provide no explanation.

They offered to send me a new appraisal at the higher price! Can you believe it! So, I asked for our money back. My wife was pissed both at me and COSTCO.

Thanks a bunch COSTCO.

It's clear that buyers must beware at COSTCO---there may be some good buys at COSTCO, but there are also rip-offs to make up for the good buys. Someone would have to be CRAZY to pay more than the appraisal price for a piece of jewelry!

Product or Service Mentioned: Costco Manager.

Preferred solution: Price reduction.

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Anonymous
#882901

Woe, same thing just happened here! Purchased earrings for 1999 plus tax, when i got the paper, it says 1899.

looks like costco rise price on no basis and forgot to change their paper work. I immediately returned the earrings too!

Anonymous
#864435

The appraised price on the paperwork is the Costco price which was $3,999.99. Obviously the price of earings had gone up, they should have pulled the item, received new paperwork with the higher value.

Someone goofed there. However, it's not a rippoff as you say since the Costco price is almost always significantly lower than the true value if you were to purchase it outside of Costco. If you were smart like me, since Costco has a great return policy, you could have purchased the earrings, had an independant appriasal done (would need for your insurance anyway) and if the price was lower (doubtful) than your purchase price, you could then return it. I doubt you would though as your independant appraisal would have most likely come in several hundred $'s higher.

My experience so far in buying jewelry, I wouldn't be surprised if those earrings would have been appraised at $4500+. Live and learn I suppose lol.

Anonymous
#864648
@WiseMan

$4,299+ 6% sales tax + $50 minimum appraisal fee = $4,607. I have been shopping at COSTCO for30 yrs, back when they were called Price Club.

Have bought jewelry before where their appraisal was higher than price paid. Enough said.

Anonymous
#882906
@Anonymous

Agree! So disappointed with costco!

Both quality and service have been dropping for years! It is a ripoff when they rise price but cost did not change!

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