Amid all the furor over De Beers’ purging of New York sightholders—by most estimates, about half of the dozen or so existing clients were cut—it’s been overlooked that a new New York sightholder was actually appointed, for the first time since 1998.

Dynamic Diamond Corp. and its president, Chaim Lax, are no strangers to De Beers: Lax worked for a sightholder for years.

Word on the market is that Dynamic got its sight because it cuts one of the most successful new diamond products—Tiffany’s Lucida. Lax won’t talk about who his clients are but says he’s eager to work with other jewelers. “We want to develop co-brands with our customers,” he says.