The Times

Boodles was founded in 1798 as Boodle & Dunthorne to supply the bauble needs of

Liverpool

's wealthy merchants. Today this jewellery chain has six other branches in

London

,

Dublin

,

Manchester

and

Chester

. The merchandise ranges from the subtle to the gobsmacking, so catering for old and new money valentine's Day gifts.

The purchases of the latter can be viewed as a handy economic indicator. Last Christmas, City boys laid out some of their record bonuses on Boodles' £ 100,000-plus necklaces. Turmoil in the financial markets may reduce their payouts and their present-buying this year. But celebrities' spending power is a constant: the Spice Girls' reunion was marked by an exchange of Boodles' finery. Simon Fuller, their manager, gave each of the five girls a necklace. Geri Halliwell also bestowed gold rings on her pals, in thanks for her rehabilitation into the ensemble valetine's Day rings .

I have always been an observer of trends in the luxury goods sector rather than an active participant. But, occasionally I Charm, a little first-hand experience is called for. Or, at least, this was the argument I used with my female friend Jamie as a reason for visiting Boodles'

Bond Street

store. The premises in which Boodle is a tenant are rumoured to be about to be sold for £ 15 million to a group of Irish investors. This makes the shop itself a luxury asset, though somehow Boodles seemed more approachable than the rest of the ritzy jewellers that cluster together in this locality H Charm.