Breakfast at Costco probably consists of a greasy sausage/egg/cheese combo on a soggy roll, eaten at a cafeteria table in the food court. It definitely wouldn’t include Audrey Hepburn in a chic black Givenchy delicately nibbling on a pastry, instead think Roseanne Barr in flannel.
So, it’s no surprise what a huge deal it was when Tiffany & Co. found out that Costco had reportedly been selling diamond engagement rings as Tiffany baubles. A customer at a California Costco noticed the in-store signs advertising Tiffany sparklers at discounted prices and she called the blue box jewelers to tip them off. Tiffany estimates that after years of these misleading sales practices, there are potentially thousands of Costco customers that think they own a genuine Tiffany rock.
Well, bet they’re pissed!
In the jewelry industry you will often hear a round diamond in a simple six prong setting referred to as a “Tiffany” setting, but this seems to run a lot deeper. Personally, I’ve never understood the allure of a Tiffany diamond, I mean no one knows what color box it came in when you’re wearing it! Why pay an incredible mark up, just so you can tuck an empty blue box in your underwear drawer for years? The real way to buy a diamond is from a guy in a grungy little office in a walk up building on 47 street.
For the complete story watch this – http://video.cnbc.com/gallery/?video=3000148365
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