Costco’s high-end offerings are in high demand, with luxury goods selling out fast.
Costco is best known for selling supersized, reasonably priced everyday essentials, from toilet paper and eggs to muffins and rotisserie chicken. However, the popular warehouse also sells many high-end luxury goods, and according to Hamilton James, the Chairperson of Costco, even luxury cars and multi-carat diamonds are flying off the shelves. “We offer higher-quality goods at lower prices that many of our customers love. Most members are average-income earners nationally, but we also have affluent members with two times the average income. That gives us the ability to do remarkable things. Since the beginning, we’ve always known we could move anything in volume if the quality was good and the price was great,” he says in an interview with Chief Executive. “Affluent people love a good deal.” Here are some of the most surprising luxury items that Costco can’t keep in stock.
Dom Perignon Champagne
Dom Perignon champagne is considered one of the finest in the world. On average, a 750-ml bottle of Dom Pérignon champagne costs around $400. However, Costco shoppers maintain that a bottle in the warehouse sells for around $240. “Not to sound small, but I go to a lot of dinner parties. The questions people ask me, they want to hear Costco stories. They’re amazed when I tell them that we sell more Dom Perignon than anyone else,” James told the publication.
Gold Bars
Another surprising best seller at Costco? Gold bars. He confirmed that the company sells between $100 million and $200 million in gold bars each month, with a one-ounce bar costing about $2,700. “I don’t know if affluent people are buying them or just people suspicious of the economy. I’d love to see the demographics on the buyers. My point is we’re not interested in selling just anything at a low price,” he told Chief Executive.
Rolex Watches
Watches are another hot luxury goods commodity at Costco. While the brands they carry vary at any given time, he confirms that they have sold Rolex watches and that they sell fast when available. Other watch brands Redditors have seen in stores include Cartier, Omega, Tag Heuer, Breitling, and Patek Philippe. He confirms that Costco has sold Rolex watches and that they move quickly when available. And, many times the watches aren’t available online, only in select stores.
10-Karat Diamonds
Engagement ring by Kirkland? Costco doesn’t seem like the obvious place to splurge on an engagement ring. However, the warehouse effortlessly sells 10-karat diamond rings, he confirms. Currently, you can get an 8.46 ct. Fancy yellow diamond ring for $149,999.99 on Costco online. However, the most expensive ring on the website is a 1.54 ct pink diamond ring retailing for $319,999.99.
Porsche Vehicles
If you have shopped at a Costco warehouse, you have likely seen a car on the floor at some point. According to James, the company partners with local dealerships to offer members great deals on a range of cars, from budget to luxury. He recalls a time when they even carried Porsche. “A Porsche dealer in Seattle put their cars on the floor of a Costco, and they sold out in a week,” he said in the interview. Shoppers on Reddit explain that you don’t actually buy a car through Costco. Instead, they connect you with a local dealership that offers you a lower-than-usual discounted rate, which is negotiable.
High-End Televisions
You might not get the cheapest television at Costco, but James explains that they generally offer high-quality models at lower prices. “If someone wants to buy a $500 TV for $250 at Costco, we want to sell them a $1,000 TV for $500 instead. We’re always trying to find better items to sell to members, giving them a great deal. We’re by no means a dollar store,” he says.
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Leah Groth
