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Merrick, NY—Cupid must have come from a family of jewelers.

Valentine’s Day 2012 proved robust for jewelry purchases, and the high end was no exception. An exclusive Centurion spot-check survey of prestige jewelers shows affluent consumers were feeling romantic and ready to buy this year. Almost two-thirds (63.2%) of Centurion survey respondents said their average ticket this Valentine’s Day was higher than last year, and 20% said their best-selling price point was significant—more than $5,000. Five-digit sales were not uncommon either.

According to this report in National Jeweler, jewelers across the nation were pleasantly surprised that so many consumers returned to buy so soon after the holiday season. Indeed, more than half of respondents to the Centurion survey reported a total increase in business from last year’s Valentine sales, and the lion’s share of those (40%) reported their Valentine’s business was up 10% or more over last year’s figure.  

The single biggest majority of respondents to the Centurion survey said their total sales for Valentine's Day grew 10% or more over last year (orange slice). 10% saw moderate increases between 5% and 9% (blue slice), and 5% saw slight increases between 1% and 4% (purple slice). One quarter (25%) stayed even with last year (red slice), and 20% experienced a drop in sales this Valentine's Day vs. the holiday in 2011 (gray slice).

25% of Centurion survey respondents said total sales were even with last year, and 31% said their average ticket also remained even with last year. 20% said total Valentine sales dropped from last year, but only 5.3% said their average ticket dropped, suggesting that consumers chose to skip a Valentine’s jewelry purchase altogether rather than skimp.

The final tally for Valentine’s Day sales far outpaces pre-holiday predictions, such as these reported by The Centurion two weeks ago. According to a pre-holiday survey by American Express, 15% of affluent consumers were planning a jewelry purchase; clearly those numbers were met and, by all indications, greatly surpassed. Last year’s typical Valentine jewelry spend—from $220 to slightly above $500 according to Mint.com—was also surpassed by affluent consumers, according to The Centurion’s survey.

63.2% of respondents to the Centurion Valentine's Day sales survey said their average ticket for the holiday was higher than last year (orange slice). 31.6% said it was about the same last year (purple slice) and a small group, 5.3%, said it was lower.

Top-selling categories and brands for high-end jewelers were Rolex, Hearts on Fire, Pandora, and engagement rings and other diamond jewelry. (A bridal set from Jack Kelege is shown at the top of the page.)

While 20% of respondents said their best-selling price points surpassed $5,000, the most popular spending point for affluent consumers was decidedly modest--less than $500, which is not unusual for Valentine’s Day. For an equal number of responents, sales were strongest either between $500 and $1,000, or between $1,000 and $1,500. A small percentage (about 6%) said their strongest sales category was between $1,500 and $5,000.

A few high-end jewelers told The Centurion they were surprised by both the volume and spend of their Valentine’s Day traffic, but most didn’t see it as anything greatly out of the ordinary. One jeweler did note a trend of men buying significant Valentine’s gifts for their wives who are new mothers (it certainly sounds nicer than “push present”), and another wrote that while his store is typically too high-end to get much Valentine’s Day traffic, this year there were more guests coming in specifically to shop for the holiday than in any other prior year.

Separately, while we were on the subject of romance, The Centurion polled luxury jewelers about a nascent trend for male engagement rings, sometimes called "mangagement" rings. 71% said they've either never heard of the term or even if they have heard it, they haven't sold any. But 29% of respondents said yes, they have sold a ring for that purpose. One respondent's niece presented her boyfriend with the modern equivalent of a "pre" (a pre-engagement ring with a tiny chip of a diamond): she bought him a "dibs" ring, as in, she had first dibs on him. It was a half-round titanium band, wrote the jeweler. Other respondents have sold more costly diamond and/or gold designer rings as male engagement rings, and, despite the ubiquity of smart phones, a fine watch still holds favor as a male engagement present.