Arpad Nagy, a London-based diamond cutter, coined the term "princess cut" in the 1960s. Nagy had created a square cut with an x-shaped facet pattern as a variation on the French cut. His design was known as the profile cut or the princess cut. Around the same time, other diamond cutters, such as South Africa's Basil Watermeyer, invented their own square diamond cuts. Watermeyer invented the Barion cut, an 81-facet rectangular diamond with a brilliant-cut on its rectangular shape. Other diamond cutters would create new square cuts and name them after themselves. However, the princess cut nickname was what lingered in the public's imagination, and "princess cut" became the name people used to designate all brilliant-cut diamonds over time.

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