If you mean cut grades then yes, there could be a tremendous difference in brilliance and beauty - however it isn't quite that simple that a label will give you a certain level of cut. What you need to do is to judge each diamond on its own desirable visual and physical properties rather than rely on cut grade descriptions used by vendors. I would avoid preset studs without any info such as depth, table, angles and so on as you won't know what you are getting for cut quality. Look at diamonds which have all the info provided, you can select a couple of loose diamonds even and have those set as studs.
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