Leo Schachter in Joint Venture with Goldberg

Two of New York’s biggest names—Leo Schachter and William Goldberg Diamond Corp.—are linking up for a joint venture.

Under the new agreement, Goldberg will polish the bigger (three carats and up, polished) stones Schachter receives from De Beers’ Diamond Trading Company. Bigger stones have long been Goldberg’s specialty.

One of the more interesting parts of this story is William Goldberg Diamond Corp.’s surprising (and surprisingly quick) return to the DTC fold. The company—one of New York’s most revered—was a sightholder for nearly 50 years but was cut from the sightholder list in last year’s shakeout.

The two companies will continue to function as separate operations.