National Jeweler reports that affluent households in the United States spent $16 billion on jewelry in the past 12 months. These findings, which are derived from the 2009 Mendelsohn Affluent Survey, indicate that affluent Americans are not bothered by the financial crisis, or at least, not as bother as they were in January.

The survey reveals that 31% of affluent households purchased fine jewelry, in addition to 46% of the upper echelon who didn't let the global downturn get them down. The survey was conducted among 13,275 households with an annual income of $100,000 and above.

Overall, it was concluded that 15.1 million affluent Americans have spent $21 billion on fine jewelry and watches, while some 0.5 million are preparing to purchase engagement rings in the upcoming year. Most of the participants in the survey are described as "wealthy policy makers", the kind of people who purchase luxury brand jewelry and are determined to keep up with the latest trends in the field no matter what.

The optimistic data supports a consumer behavior study performed by Wells Fargo & Co among 1,600 households in the US. The study shows that despite the financial uncertainty, over a third of the households in the United States haven't changed their consumption habits.

It seems that fear is not enough to generate a real change in the American market. The survey reveals that younger households (18-41) have made the smallest changes compared to older households. No less than 60% of younger households reported a failure to change their consumption policy compared to 27% of the older households that reported an inability to change.

Why is there no change? The reasons vary from "no desire to change" (2%) to "no idea what to change" (10%) and "inability to implement plans for improving consumption behavior" (22%). The main reason for the lack of change was "the feeling that a change in consumption habits will not have a significant effect on the financial situation (24%). The study further indicates that spending on entertainment and vacations was cut by half compared to last year, and that most Americans are now comparing prices before they buy anything. Another data indicates that 37% of the surveyed only buy what they need.

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Israel will celebrate the turn of the new Hebrew year this weekend, and I think this makes a great opportunity to start telling you about the history of the Israeli 

As most of you probably already know, Israel is one of the world's major diamond centers, along with Belgium, Hong Kong, the United States and India. In 2008, the Israeli diamond industry exported some $6.2 billion worth of polished diamonds and some $3.4 billion worth of rough diamonds to various destinations around the world. To date, there are over 2,000 diamond companies, factories and traders operating in Israel.

The Israeli diamond industry was born in 1937, moments before World War II broke out. Jewish diamond polishers and cutters who lived in the Netherlands were forced to flee Europe, and those who arrived in Israel established the first Israeli diamond polishing plant in Petah Tikva.

The Israeli Diamond Exchange Trading Floor

When the 15% tax on the import of rough diamonds in Israel was removed in 1938 by the British Mandate, thanks to the efforts of Aaron Abraham Ben Maurice, it helped the Israeli diamond industry flourish. In 1939, Netanya's first diamond polishing workshop “Ofir” was established, small factories expanded, and by 1944 the industry employed over 3,000 workers in 33 factories. Diamond workers received the highest salaries in Israel.

While European diamond industries halted their operations during World War II, the Israeli diamond industry continued to operate at full speed. The Central Selling Organization of diamonds in London (CSO), provided the Israeli diamond industry with a regular supply of rough diamonds for a fixed price, and Israeli diamond factories were able to sell their polished diamonds with virtually no competition.

However, after the State of Israel was officially formed, the industry started to climb its way back up. In the 1950s, Israel was immersed in construction and growth, and the diamond industry was no different: By 1959, the Israeli diamond industry had become bigger than ever before. With the support of a modern democratic state, the Israeli diamond industry was able to endure many crises, including  Israel's wars with its neighboring countries as well as global and local recessions and political and cultural changes.

Israeli Diamonds Stamp from 1968

In 1968, The Israel Diamond Exchange inaugurated the Shimshon Building – a 24 stories high tower that was designed to serve the industry's many needs. Until this day, it is considered one of the most advanced diamond bourses in the world.

There's still much more to tell but I think I'll save some for later. Shana Tova, everybody! See you next year!

Based on historical overview by Shira Ami 

Mineralis, the international exhibition for minerals, fossils and jewelry, celebrates its 35th anniversary on November 6-8 at the Messe Berlin exhibition center. The exhibition will display different types of minerals and jewelry, from coral and amber gemstones to opals from Mexico and Australia, stone engravings from Peru, carnelian and tourmaline, amethyst from Brazil and malachite from Africa.

The Mineralis 2009 exhibition is expecting some 160 attendees from 16 nations from around the world, including yours truly: I will be there taking pictures, shooting videos and sending you live feeds in English from the German exhibition via Twitter! I will be brushing shoulders with some of the world's experts on minerals and crystals, which will include manufacturers, importers and wholesalers.

I know that this blog usually focuses on diamonds (as it is, after all, a diamond blog), but one mustn't forget that diamonds are a minerals as well, and that there are many beautiful minerals out there. Minerals are solid objects that have undergone sophisticated geological processes. There are thousands of known forms of minerals, each with their own distinctive shape and color.

The second most common of all minerals found on planet earth is Quartz. Quartz is used in the production of electronics, work surfaces and glass, and of course – as a gemstone. In its pure form, quartz is colorless or white and transparent.

Citrine is a type of quartz that ranges from pale yellow to brown. However, citrine is one of the least common of minerals, and is usually made artificially. Brazil is the world's leader in the production of citrine.

The violet variety of quartz, which is called Amethyst, is often used in jewelry. The Greeks and Romans believed that these minerals can protect the persons holding it from being intoxicated! I think I'll try to get me some of those when I get to Berlin...

Agate is another variety of quartz, which has been crystallized. Agate was first found in the river Achates in Sicily. Agates are among the most ancient and precious healing stones and are found in a great variety of colors.

These minerals and many more can be found at the Mineralis 2009 exhibition in Berlin on November 6-8, along with many other fascinating rocks, stones, fossils, gemstones and jewelry. If you see me there, don't think twice and say hello!

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