Graff reveals the world's largest D Flawless heart shaped diamond to date

(Jewelry house Graff has unveiled what could possibly be the most romantic gem to come into existence -- the largest D Flawless heart-shaped diamond in the world.

The British company has named the diamond 'The Graff Venus,' in reference to the Roman goddess of love.

The 118.78-carat diamond has been graded as a color 'D', meaning it is the most colorless shade possible for the rock. Originally a 357-carat rough diamond discovered in Lesotho's Letseng mine in Africa, it was cut, faceted and polished into its eventual heart form by Graff's team of in-house experts -- a process that took 18 months.

In a teaser video posted on the brand's Instagram page Tuesday, Laurence Graff, Chairman of Graff Diamonds, calls the piece "a miracle". The clip offers a glimpse of the intricate process involved in marking, digital mapping, lasering and precision shaping the record-breaking jewel. In a statement on the company's website, Graff says of the piece: "It is the most beautiful heart shape diamond I have ever seen."

Graff has yet to reveal how it will incorporate the diamond into its designs, but WWD has reported that the company has confirmed it will be transformed into a wearable piece, rather than made for display in a museum.

Since being founded by Laurence Graff in 1960, Graff has gone on to become one of the biggest names in the luxury jewelry industry, and now boasts over 50 boutiques in Asia, Europe, North America, Australasia and the Middle East.