Home Technology Groupon Inc Offering A Rare-Sized Topaz At $ 1 Million

Groupon Inc Offering A Rare-Sized Topaz At $ 1 Million

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Groupon Inc (NASDAQ:GRPN) offered a piece of topaz for sale on Monday at a whopping $1 million, which is the most expensive product the company has ever sold. The company has kept the product under the category Ultimate Holiday Gifts, which started on Monday, says a report from Azcentral.

Groupon never offered anything so big

Tim DeClaire, head of Groupon Consumer PR, said that the topaz is the most expensive deal that the company has ever offered on its platform. Groupon described the gem as “brilliantly cut in a modified octagonal shape, this rare topaz has a 9377 total carat weight.”

Other products in the collection included a 16.25 carat diamond necklace for $24,999, Chanel watches for $5,519 and Louis Vuitton handbags for $3,499.99, according to DeClaire.

After a few hours of the posting, the topaz page read that the 9,377 carat stone was sold out, but after a few hours, the same piece was offered again for sale. DeCLaire clarified that on Monday, two buyers hit the buy button for the product and also gave their payment details. However, before making such a big transaction, the customer service representative contacts the buyer directly, and if the sale does not conclude, then the product returns to the website, according to DeClaire

Other expensive offerings from Groupon

Groupon has never sold something with such a high price tag because many Groupon shoppers are looking for discounts. Tom LaGravinese, owner of Arizona Jewelry Appraisals in Mesa, said that collectors are always ready to shell out huge bucks for unusual pieces. He added that there are charts with prices of every gem by carat-size, but for these pieces, what’s unusual is that there is no set price chart. According to LaGravinese, when collectors buy these things, they are usually aware of the charts. Craig Lynch of Ouellet & Lynch in Phoenix also said that a topaz of this size is rare.

Groupon has made other expensive deals, including a 44.5-carat oval cut diamond necklace in 18-carat gold for $119,999. Presently, the company is offering users a chance to buy a 24.9-carat tanzanite gemstone and diamond ring for $17,999.

“We also offered a trip around the world in 2011 and in April of this year we sold a Lamborghini on Groupon in Hong Kong,” DeClaire said.

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Aman Jain
Personal Finance Writer

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