Since the days of the Roman empire, diamonds have been set into jewellery, most often into rings. In ancient times, diamonds were believed to have magical and medicinal powers. They were believed to prevent the wearer from catching the plague and to bring good fortune.

The most common cut in the early days of diamond jewellery was the table-cut. This was a basic unpolished octahedron shape with an upper ground down to form a square, sometimes having a small facet (culet) on the bottom of the diamond. Due to the difficulty in cutting diamonds with the very basic and unsophisticated tools available at the time, it was by far the most common cut during the 16th century and 17th century. More complex cuts were being developed in Antwerp and Amsterdam even during the 1400s and eventually a new and improved diamond cut was developed. The rose-cut had increased brilliance (sparkle) due to the top of the diamond (the crown) being cut into a number of triangular facets. The bottom of the diamond (the pavilion) was flat. These rose-cut diamonds were very popular during the 18th century and 19th century, usually mounted in silver and held in place by collets. They would sometimes have a silver foil backing applied to them to increase their brilliance by reflecting the light back up through the diamond. By the middle of the 18th century there was a new cut, the brilliant-cut. Aptly-named, this cut had far more sparkle than any of the other cuts which had gone before.

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The discovery of new diamond fields in South Africa in the 1870s and the increase in prosperity in many countries led to a increase in the availability and affordability of diamonds. The introduction of platinum in the Edwardian era as a new metal for jewellery enabled the use of new smaller and less obtrusive settings. The mass production of diamond jewellery gave rise to improvements in the cutting techniques, and with the new platinum settings, several new cuts became popular, including the marquise-cut. Although other gemstones have been marquise-cut, a diamond is possibly the best at showing off the qualities of this cut. It has also been called the navette-cut, which is French for 'little boat' as it has an approximately similar shape to a boat. It is a modified brilliant cut, and is a very popular cut for engagement rings and also for wedding rings. The stone usually has a length which is equal to twice its width, as this gives the most attractive proportions.