If you've got the cash, then the bling is only secondary to the actual purchase of the jewelry. Customer service is also critical to the sale, and high end jewelry shops and indie jewelers know this. They want to mix and mingle with the "in" crowd who can afford their high-end baubles. One way to do this is through parties and other social events.

Here's more about this new trend in jewelry customer service from The Miami Herald:

Giving potential or existing customers the opportunity to try on sparkly baubles or designer watches is just one reason that upscale jewelers in South Florida and across the country are increasingly using special events as a key marketing tool.

Jewelers have learned that to reach this key consumer, it's just as much about sponsoring prominent charity events, cross-marketing with other luxury brands and hosting intimate parties to court potential new customers or thank existing ones.

This consumer has plenty of money and is willing to spend it. Sales of jewelry and watches are expected to reach $62.6 billion for 2006, marking a 6.3 percent increase over last year, according to forecasts from the Bureau of Economic Analysis.

''If I'm spending $300,000, the least you can do is make [me] and my friends feel special,'' said Milton Pedraza, chief executive of the Luxury Institute, a research firm. ``There's no question the wealthy consumer expects more. It just won't do to have a typical experience anymore. In the end they're collecting stories they can tell around the boardroom or the benefit parties.''