Finding one really large rough diamond doesn't happen quite often so when it does you would probably expect the cutters to create one big polished diamond but in most cases rough large diamond is split into several or more smaller diamonds. Why not stick with just one big polished diamond instead?
After a large rough diamond has been discovered it is usually taken to master cutter for analysis. The purpose of this analysis is to find the best available method of cutting it. This analysis can in some cases last for more than a year because master cutters want to exploit as much of rough diamond as possible. Large rough diamonds have bigger chance that their shape of crystals will be irregular, and this is what makes making couple of smaller diamonds better option compared to making one bigger stone.
Master cutters will more often than not use the method of making one "as big as possible" diamond and several smaller diamonds, because cutting it other way would mean destroying large part of rough diamond for nothing. As said before the final decision about the preferred cutting is usually done only after very comprehensive analysis, and master cutters as well as jewelers certainly know what they should do in order to get the maximum profit out of the certain rough diamond.
Diamond cutting technique has very long history, and despite the development in technology, science and machinery in the last 100 years, not much has changed in diamond cutting technique in the last 500 years or so. The cutting principles are still pretty much the same and master cutters are still very sought for, earning huge salaries.
Diamond cutting skill requires lot of training and experience to give the best possible results. Diamond cutter first needs to observe the diamond, and the way on which diamond refracts the light to not only make the perfect cut, but also to use the most of the diamond.
The basic idea of diamond cutting is to give diamond a maximum possible brilliance, and if diamond cutter has achieved this then he has achieved a perfect cutting. Even the tiny mistakes can turn out to be very big as for instance making cut too deep or too shallow will in the end mean less brilliance because light will leak on the both sides of the diamond, making diamond less valuable.
Many diamond experts will tell you that diamond cut is the most important factor that determines the value of purchased diamond. This is only partially true because all 4C's must be considered (cut, carat, clarity, color), and every one of these factors has significant impact of final price of the diamond.
It is very true that brilliance of the stone is the factor that gives diamond its recognizable sparkle and brilliance, and without a proper cut diamond will not look pretty regardless of color, clarity and its size in carats. So from this point of view diamond cut is the most important factor that determines the beauty and visual impression of the diamond.
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