There is controversy, as critics claim the recutting has so altered the diamond as to make it unrecognisable,[1] compromising its historical integrity.

[6] The story that King Felipe IV of Castile purchased the jewel and included it in the dowry of his teenage daughter, Margaret Teresa, in 1664 is apocryphal.

When Maximilian IV Joseph von Wittelsbach became the first King of Bavaria in 1806, he commissioned a royal crown that prominently displayed the diamond.

[10] In June 2011, Graff apparently sold the diamond to the former emir of Qatar, Hamad bin Khalifa, for at least US$80 million.

[7][12][13] On 7 January 2010, it was reported that the diamond had been recut to enhance the stone's colour and clarity, losing over 4.45 carats (890 mg) in the process.

The move was met with heavy criticism by some experts: Gabriel Tolkowsky called it "the end of culture.

"[14] The alteration of the historical stone has been compared by Professor Hans Ottomeyer, director of the Deutsches Historisches Museum of Berlin, to the overpainting of a painting by Rembrandt.

[6] As a result of the recut, which removed some chips and reduced the size of the culet by 40%, the gem has been re-evaluated by the Gemological Institute of America and its colour grade revised from "fancy deep grayish-blue", the same grade given by GIA to The Hope, to the more desirable "fancy deep blue".