Judging from sales figures rung up at the 10-day JewelFest, consumers are not letting the looming recession affect their appetite for big-ticket items. That is, of the sparkling kind, at least.

Although attendance figures were not available at press time, jewellers my paper spoke to were pleased with their earnings.

The annual consumer-jewellery show – organised by five Singapore-based jewellers, including TianPo Jewellery and Lee Hwa Jewellery – was held at Ngee Ann City’s Civic Plaza from Oct 24 to Nov 2.

Mr Jean Nasr, head of renowned Los Angeles-based jeweller Mouawad, Asia, told my paper that he saw an "increase of 50 per cent in sales" at this year's show, up from last year's.

While he declined to say exactly how much was sold at his booth, he added that there were several orders that are "pending negotiation" and which "could double" his takings.

He also saw "a double-fold increase in demand" for coloured diamonds which cost between $20,000 and $100,000.

The encouraging sales figures surprised retailers who were prepared for the economic slowdown to dampen consumers' spending mood.

Mr Nasr said: "We went in prepared for the worst. I'm pleasantly surprised by the sales we achieved."

A total of $100 million' worth of jewellery was showcased by 33 jewellers, including Singapore companies.

Many of the local firms reported that they rang up higher sales this year too.

According to Ms Geraldine Loh, head of corporate branding for Soo Kee Jewellery, her company racked up 20-per-cent higher sales, compared to last year.

It sold 65 per cent of its jewellery to locals and 35 per cent to tourists, she added. Soo Kee’s biggest sales were consumer pieces priced between "$900 and a few thousand dollars".

However, industry players said that while consumers were spending, it was with caution.

Mr Nasr said: "They went around comparing prices with other jewellers before coming back. There were fewer impulse buyers this year." Soo Kee's Ms Loh said that customers "required longer consideration time at the booths" before handing over their cash.

One happy exception to the rule was Ms Lee Yen Miin, 35, who owns an events and videoproducing company.

On the first day of JewelFest, she browsed for "about an hour" before deciding on a Goldheart 0.3-carat diamond ring with a price tag of around $1,500.

She said her mood "wasn't affected by the economic downturn" because "I don't buy stocks and shares".

This article was first published in my paper on Nov 4, 2008.

» View our photo gallery of Jewelfest's Spring-Summer and Autumn-Winter collections.