To an untrained eye, many pearls may look quite similar. There is, to the contrary, an intricate hierarchy to pearls and several factors exist that determine a pearls worth. Luster and size are generally considered the two main factors to look for. Luster for instance, depends on the fineness and evenness of the layers. The deeper the glow, the more perfect the shape and surface, the more valuable they are. Moreover, if you can see a reflection of your face clearly by gazing into the pearl, that’s a high quality luster. The foggier the reflection, the less valuable the pearl. Size on the other hand, has to do with the age of the oyster that created the pearl (the more mature oysters produce larger pearls) and the location in which the pearl was cultured. The South Sea waters of Australia tend to produce the larger pearls; probably because the water along the coast line is supplied with rich nutrients from the ocean floor. Also, the type of mussel common to the area seems to possess a predilection for producing comparatively large pearls.

Today, if you want real pearls, you will probably have to purchase the cultured variety. Natural pearls (those made without man’s assistance) have become so rare and expensive, that for the vast majority of people cultured is the only option. However, top quality natural and cultured pearls are identical to the naked eye in terms of appearance and quality. Only under an X-ray machine can a trained eye discern any difference. Cultured pearls tend to have a larger core or nucleus. But, in all other respects, they are identical.

Interestingly, the best cultured pearls are those that come from an oyster that dies after the pearl is removed. Oysters that do not die after the pearl has been extracted produce what are referred to as “Biwa” pearls. Generally but not always, Biwa pearls fetch a lower price than the impending death variety.

Pearls also come in many colors. The most popular colors are whites, creams, and pinks. Silver, black, and gold are also gaining increasing interest. In fact, a deep lustrous black pearl is one of the more rare finds in the pearling industry, usually only being found in the South Sea near Australia. Thus, they can be one of the more costly items.

Among cultured pearls, Akoya pearls from Japan are some of the most lustrous. A good quality necklace of 40 Akoya pearls measuring 7mm in diameter sells for about $1,500, while a super- high quality strand sells for about $4,500.(5) The South Sea pearls of Australia, Myanmar, and Indonesia are rarer and larger, with diameters of 10 to 20mm, and cost far more even though they tend to be less lustrous. A 16 inch strand of white South Sea pearls retail for $40,000 to $50,000.(6)

The world record for the highest price paid for a cultured pearl necklace was $2.3 million at Sotheby’s in 1992. The 17-inch strand had 23 pearls with diameters ranging from 16 to 20mm (about the diameter of a dime), with a bead-shaped platinum clasp with 60 round diamonds.(7)

Consumer ignorance surrounding the various qualities and types of pearls is quite pervasive. In fact, many of the industry’s leading pearl producers think that this ignorance is detrimental to their business. Despite the ubiquitous and enduring appeal of the pearl, there are several organizations such as the World Pearl organization, Cultured Pearl Association, Japan Pearl Promotion Society, and Australia’s Licensed Pearl Producers that fund pearl awareness and promotional programs geared toward informing consumers about the myriad variety of pearls and their appeal as jewelry pieces. Competition between different countries such as Japan, Australia, and China (the three major pearl suppliers) often results in advertisements explaining why a particular country’s pearls are superior because of quality, price, size, etc. These groups, representing the industry's producers and retailers, assert that if consumers are uninformed when purchasing jewelry, they might choose something other than pearls, or might purchase a pearl without being aware of the variety offered by the pearl industry. Such unfamiliarity my drive the price of some of the more exotic pearls down due to lack of market recognition; essentially cutting into sellers' potential profits.