No matter how much you try to keep an eye on your belongings when you're visiting a crowded mall, you still may end up forgetting or losing something.

A visit to a local mall three years ago saw Chad Davis, of Orlando, Florida, misplace something slightly more expensive than his cell phone – he lost $3 million worth of diamonds.

As Davis tells it, while he was on a shopping trip in a Florida mall in 2007, he accidentally left a bag containing diamonds, packed in a small plastic box, under one of the tables in the food court.

The gems, which were never found, were bought from Belgium diamond supplier Rosy Blue. The company has accused Davis of stealing the gems and the subsequent litigation has driven him to bankruptcy.

Find the Diamond

Davis' involvement with Rosy Blue began in 2006, via businessman and diamond trader Eddie Lane. According to court documents, Davis and Lane flew to Rosy Blue's office in Belgium, and allegedly manipulated the company into thinking that Davis was an established diamantaire with the means to buy diamonds. Rosy Blue sold Davis $6.5 million worth of gems.

Though Davis kept up the payments for six months, the Belgian company now claims that they were made "as a ploy to obtain Rosy Blue's trust and willingness to sell him more diamonds."

According to Davis' version of the events, he stopped at the mall's food court for lunch and put several shopping bags, including the one containing the diamonds, under the table while he ate. It wasn’t until he got home that he realized the bag with the diamonds was missing. The bag itself was eventually found – empty.

Court records further revealed that while Davis reported his loss to the mall's security department immediately, he did not file a police report for six days. Davis explained the delay by saying he was "in shock from the loss."

Davis also claimed that it is possible he was followed by someone, and that that someone may have stolen the bag. Being a diamond broker, he said in his police statement, "is so high-risk. People are getting robbed all the time."

Rosy Blue, however, dismissed Davis' theory as lacking credibility. The company has also filed suit against Lane, who it claims conspired "to defraud Rosy Blue out of millions of dollars worth of diamonds." The case is still pending.

Realizing that you've lost something important – having your bicycle stolen, forgetting your new smartphone somewhere, or finding out that some "good Samaritan" help himself to your wallet – is one of the most frustrating moments one can experience, but overall, we tend to get over it after a few days. One has to wonder how long it would take Chad Davis to get over his astronomical loss.

Israeli diamantaires can contact the Israel Diamond Institute for helpful tips and guidelines on how to protect merchandise while travelling.

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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 diamond industry.

The Israeli Diamond District

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 

The United States isn't just the world's most powerful economy, it is also the world's largest consumer of diamonds: some 50% of the world's diamonds are traded in the United States. That's quite a lot for a nation with almost no viable diamond resources of its own.

The American People became intrigued with things that shine back in the mid-19th century, when gold was first discovered in the California. In 1848, when James Wilson Marshall found gold at Sutter's Mill in Coloma, California, some 300,000 people from the United States and all over the world literally rushed to California to get their piece of the shiny yellow metal.

Other than contributing to the American People's affection for jewelry, the gold rush helped build the United States as an economic powerhouse. Capitalism became one of the nation's fundamental principles, and with it came the desire for materialistic belongings, such as gold, diamonds, jewelry and whatnot.

The diamond cutting trade arrived in the United States during the 1940s, when thousands of Orthodox Jews fled the Netherlands and Belgium, which were invaded by Nazi Germany at the time. Many of them were diamond traders and diamonds cutters and polishers who settled in what soon became known as the Diamond District.

The Diamond District today is one of the world's main centers for diamond trade, with some 2,600 diamond and jewelery stores scattered around it. It is located on West 47th St. between the 5th and 6th Avenues, and if you somehow fail to find it, you can always follow the long trail of men with black long jackets and big hats.

Diamonds and jewelry, and particularly diamond rings, have become a inseparable part of the American society. Before the 1930, diamond rings were not used often as engagement rings. But that soon changed when diamond giant De Beers launched its advertising campaign, “A Diamond is Forever.” Through a sophisticated campaign, De Beers managed to convince the American People that diamond engagement rings are a must, the more expensive the better. Today this is practically an indisputable fact.

The recent and ongoing global financial crisis has probably hit the United States the most. The diamond industry in the US was no exception, and many independent diamond businesses were forced to shut down, as did some decades-old jewelry and diamond giants. Americans are not buying as much as they used to, especially when it comes to luxury items. In spite of it all, the United States is still the leading consumer of diamonds.

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