Diamond Rings

Costco has diamond rings, both instore and online. Chances of getting ripped off are minimal.As in, you get what u pay for. Plus, they have one of the best return policies if things don't work out as planned :p

getting something at a lower price that has very little true intrinsic value is still not a good deal

In this case market price does not equal fundamental values.
 
The markup is more than that.

Buy a loop. Do a little research on how to critique a diamond and go shopping. You can tell quite a lot regarding quality and then negotiate heavily on price. Lots to choose from.

Or take a trip to the Caribbean. GREAT deals but you have to know what you are doing.
Most stones in the islands are crap and overpriced.
Even a 'deal' down there is still not a good buy. Plus you are going to pay in $US.
 
They just closed a diamond mine in Canada because the price has collapsed. There is no way to buy a diamond without getting ripped off, they are pretty worthless. There are boatloads in storage to keep the prices elevated and the Russians have perfected the manufacture of gem quality diamonds