Costco is selling $400,000 Tiffany-style diamond rings

Breakfast at Tiffany’s just became a hot-dog lunch at Costco.

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.

It also looks strikingly similar to one at Tiffany and, what’s more, jewellers say it’s a quality ring at a fair price point.

‘The price point makes sense, it’s a good price point. You will pay at least 30% more at a luxury jeweler.’

—Igal Dahan, who has made jewelry for stars like Kim Kardashian and Elton John

Costco Wholesale’s COST, +1.88% chief financial officer Richard Galanti said on an earnings call last week that a Costco customer made a “significant diamond ring purchase in the $400,000 range” calling it one of the “sales highlights” of the quarter.

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