We describe a convergent, base-free two-step synthesis of 1, 3-diketones and β-ketoesters from α-diazocarbonyl compounds, trialkylboranes, and aromatic aldehydes in a three- component process. The synthetic potential of this protocol was underscored by the synthesis of several symmetrical 1, 3, 5-triaryl-4-alkyl and 1, 3, 4, 5-tetraryl substituted pyrazoles in a three-step sequence.