Very good cut

Very Good Cut - Usually cut to maximize the size of the diamond, a Very Good Cut stone falls a little short of the preferred diamond proportions.

Very Good Cut (VG): This diamond has first-rate proportions and offers outstanding sparkle and brilliance at a cost-effective price.

Very Good Cut Grades
A Very Good Cut Grade (one step lower) have Girdles that are Very Thin, to Thick Girdles. These are still fine Girdles, but I wouldn't venture above or below these top 2 Grades!
Good Cut Grades ...

Very Good Cut:
Diamonds cut to fit very strict requirements for depth percentage and table percentage. These outstanding proportions maximize fire and brilliance in the diamond.

Very Good Cut: Very Good cut grade may cost less than the Excellent cut, but it is equally beautiful and brilliant.

Very good cut: The top 15% of quality diamond cuts. A cheaper version of an ideal cut, it also reflects most of the light passed through the stone.

Very good cut diamonds reflect most of the light that enters them, dispersing a good deal of brilliance. With these diamonds, the diamond cutters have chosen to stray slightly from the preferred diamond proportions in order to create a larger diamond.

Very Good Cut (Premium): A proportioned cut that maximizes brilliance, reflection and dispersion. Meets the highest standards and dimensions for a quality diamond.

Good - Good light performance. Reflects most of the light that enters. Good diamond cuts are far less pricey than Very Good cuts.
Fair - Not as brilliant as a Good cuts or above, Fair diamond cuts are still considered good quality diamonds.

See also: Color, Clarity, Jewel, Good cut, Cut