The name "Imperial Blue" selected for the diamond by its owner Laurence Graff, seems to reflect the exceptional color, clarity and cut of this rare diamond, worthy of being part of a collection of jewels belonging to an emperor or monarch.

 The "Imperial Blue" diamond is a 39.81-carat, pear-shaped, fancy blue diamond with an internally flawless (IF) clarity grade, and it is perhaps the largest flawless fancy blue diamond in the world. In the list of known notable blue diamonds in the world the "Imperial Blue" diamond occupies the 3rd position.

The "Imperial Blue" diamond is a rare Type IIb diamond in which the blue color is caused by the presence of trace quantities of boron impurities in the crystal structure of the diamond. Boron is an element that has an atomic size comparable to carbon atoms, and therefore can be easily accommodated in the diamond crystal made up of carbon atoms. The presence of boron also imparts a semi-conducting property to blue diamonds, which is unique when compared to other diamonds which are usually non-conducting. However blue diamonds are very rare in nature because their occurrence is less than 0.1 % of all naturally occurring diamonds. It is said that in the Premier Diamond Mines of Transvaal, South Africa, only one significant blue diamond, is mined every year out of all the rough production of diamonds in these mines for an year. This indicates the rarity of occurrence of blue diamonds.

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