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Cut and polish this has two meanings in relation to diamonds. The first is the shape: square, oval, and so on. The second relates to the specific quality of cut within the shape, and the quality and price will vary greatly based on the cut quality. Since diamonds are very hard to cut, special diamond-bladed edges are used to cut them. The first major development in diamond cutting came with the "Point Cut" during the later half of the *4th century: the Point Cut follows the natural shape of an octahedral raw diamond crystal, eliminating some waste in the cutting process