Diamond cutting is the practice of shaping a diamond into a faceted gem and expresses the diamond’s outline or external figure.. Cut is one of the 4Cs of a diamond (cut, color, clarity, and carat) and determines a diamond’s brilliance, fire, and scintillation levels and therefore affects its beauty and value. Diamond shape and diamond cut are often thought to be the same quality, but they are not. Feel free to read our article on diamond shapes and cuts to learn more about how they are different.