Would You Buy a $1M Engagement Ring at Costco?

Costco may be in the business of selling supersized items such as condiments and pre-packaged meals, but did you know your local store can arrange for you to purchase a $1-million engagement ring?

Available online at Costco.com, the platinum diamond solitaire (there is only one available) is listed at 6.20 carats, IF clarity, D color and is valued at $1,496,255.

Online representatives will send the engagement ring to either of the Laguna Niguel stores for your personal viewing before you plunk down the cash.

According to Julie King, who works in the jewelry department at the "When it is high-end jewelry, they will make arrangements for you to see it at a store of your choice."

, a Laguna Niguel-based jeweler said, "As far as the diamond, it is almost as good as it gets."

Weiss said there is only one grade above IF—"flawless."  

But when thinking of purchasing a diamond ring, Weiss said, there are other factors to consider, such as as the proportions of the diamond and the fluorescence.

"Costco only carries quality merchandise, and I have no reason to believe that this diamond is any different …" he added. But, he said, "I don't believe that anyone would buy a diamond of that magnitude without much research" and probably could get a better deal elsewhere.

Customer Jennifer Conrad of Laguna Niguel, who was sifting through T-shirts over the weekend at the Costco at Heather Ridge, said, "I'm not sure that I would consider spending $1 million on a diamond ring at Costco. It's a big purchase, obviously, so even though they can arrange for me to see it in the local store, I'd want to bring someone who really knows about diamonds with me to check it out."

To view the ring, click here.