If you’ve ever browsed pearl jewellery, you might have noticed a huge range in prices. One pair of pear studs might be £100, while another pearl necklace could be priced at £3,000 or more. Why do pearls vary so much in value? In this post, we’ll demystify the factors that affect pearl pricing, so you can understand exactly what you’re paying for (and make sure it’s worth it!).
The Type of Pearl Matters
The first big factor in pearl value is the type of pearl. Different types of pearls have different rarity and cost of production, which affects their price:
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Freshwater vs. Saltwater: Freshwater pearls (from freshwater mussels, mainly in China) are generally more abundant and thus more affordable. A classic white freshwater pearl necklace might cost a few hundred pounds or less. Saltwater pearls, which include Akoya, Tahitian, and South Sea pearls - are typically rarer and more expensive. They are farmed in smaller quantities, and each saltwater oyster produces fewer pearls (often only one at a time) compared to a freshwater mussel which can produce many. For example, South Sea pearls (from Australia, Philippines, Indonesia) are the largest and rarest cultured pearls, often commanding very high prices. Tahitian pearls, with their unique dark colours, are also quite rare and priced higher than freshwater pearls. Akoya pearls fall in between - they are saltwater and known for top quality, but they are smaller in size; fine Akoyas can still be pricey, especially from top Japanese farms. In summary: freshwater pearls offer terrific value and can be grown in larger quantities, whereas saltwater pearls are limited by nature and time, raising their price.
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Natural vs. Cultured: Almost all pearls sold today are cultured (grown with human assistance). Natural wild pearls - those formed without any human intervention, are extremely rare (divers have over-harvested them historically) and thus astronomically expensive if found. For context, a necklace of matched natural pearls might sell at auction for millions. Cultured pearls, by contrast, are more common and have a wide price range depending on other quality factors. So, if you ever encounter a natural pearl, expect it to cost far more than any cultured pearl of similar size/quality. (Fortunately, nearly all pearls on the market are cultured, and they are real pearls - see our FAQ in the previous post.)
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Certain Exotic Varieties: Even within saltwater pearls, some specific varieties fetch a premium. Golden South Sea pearls (with a naturally rich golden hue) are highly valued in the market, especially in Asia, and can cost significantly more than equivalent white pearls. Pearls from special locales like the Sea of Cortez (Mexico) are produced in very limited quantities and are accordingly expensive. While these might not be on a typical shopper’s list, it’s good to know that origin and type can influence price greatly.
Key takeaway: A £100 pearl necklace is likely made of freshwater pearls, whereas a £10,000 necklace is probably high-quality Akoya, Tahitian or South Sea pearls. Always check what type of pearl you’re buying, as it sets the “baseline” of value.
Quality Factors That Determine Pearl Value
Within any given type of pearl, there is a spectrum of quality. Two pearl strands might both be Akoya, 7 mm, white pearls – but if one has higher lustre and cleaner surface, it will be much pricier than the other. Here are the six main quality factors that affect a pearl’s value:
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Lustre: Lustre is the brightness and sharpness of reflections on a pearl’s surface. This is often cited as the most important value factor. High-lustre pearls are crisp and shiny - you can see light reflections (or your own face) like a mirror. Such pearls “pop” when you look at them. Lower-lustre pearls might appear milky or dull, with fuzzy reflections. Because lustre comes from the quality and thickness of the nacre layers, it often signifies a well-developed pearl. When comparing two pearls side by side, the one with brighter, sharper lustre will usually be more coveted (and more expensive).
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Surface Quality: Nearly all pearls have some tiny blemishes - it’s part of their character. However, the general rule is fewer blemishes = higher value. A pearl with a smooth, clean surface (no noticeable spots, pits, cracks or rings) is a rare find and will command a top grade. On the other hand, if a pearl has multiple visible marks or a rough texture, it will be priced much lower. Importantly, blemishes that are small or concealable (like near the drill hole) don’t affect value as much as large, obvious flaws. Jewellers often position any minor flaws towards the back or drill-hole of a piece to hide them, but when grading value, they do count. Flawless pearls are exceptional and priced accordingly.
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Shape: Perfect rounds are the most traditional shape and generally the most valuable because they’re the hardest to grow. If you see a strand of perfectly round pearls, especially in larger sizes, it will be at the high end of the price range. However, shape also intersects with fashion - baroque (irregular) pearls have become popular for modern designs, and while they might be cheaper than round pearls of the same size/colour, very appealing baroques can also fetch high prices (particularly if they have great lustre and intriguing shape). Symmetry is valued: for example, matching pear-shaped pearls for earrings can be expensive if both are nicely symmetrical drops. In summary, round = typically highest price, but a beautiful drop or baroque with other good qualities can still be valuable.
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Size: Size greatly impacts value when comparing the same type and quality. This part is straightforward: larger pearls are rarer, so they cost more. A 9 mm Akoya pearl is extraordinarily rare (most Akoyas are 6-7 mm), so its price will skyrocket compared to a 7 mm Akoya. Similarly, Tahitian and South Sea pearls above, say, 14 mm become extremely expensive. Sometimes just a 1 mm increase in diameter can double the price of a pearl if all other factors are equal. When you see an eye-popping price on a pearl necklace, often the pearls are both large and high-quality, a combination that is exponentially rarer. For example, South Sea pearl necklaces around 15 mm in size can easily go into five or six figures because not only are they large, but matching a whole strand of big, fine pearls is a monumental task.
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Colour (and Overtone): Colour influences value in more subtle ways. It’s partly about rarity (certain colours are hard to find) and partly about trend and personal preference. Classic white is always in demand (especially with a rose or silver overtone on Akoya pearls). Golden South Sea pearls (natural golden colour) often command a premium because of their rich hue and rarity. For Tahitian pearls, a “peacock” pearl, one with a mix of green, pink and purple overtones like a peacock feather, is considered very desirable and can be more expensive than a plain grey pearl. Some freshwater pearls with natural pastel colours (peach, lavender) might not cost more than white ones, since freshwater pearls are plentiful in those colours; but an unusually bright or rare colour in any pearl can boost its price. It’s also worth noting that overtone and orient (the play of rainbow colours on some pearls) add to beauty and value. A pearl with a lovely rose overtone or a rainbow iridescence will generally be priced higher than one without it. Ultimately, it’s about the beauty of the colour - vivid, lustrous colours usually fetch more, whereas dull or brownish tones might lower the value. Fashion and cultural preferences play a role too: e.g., pinkish pearls might be prized in one market, golden in another.
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Matching: This comes into play for multi-pearl pieces like strands or earrings. A single pearl can be gorgeous, but when you need a pair or a whole strand of matching pearls, the difficulty (and cost) increases. Jewellers must sort through hundreds or thousands of pearls to find a perfectly harmonised set for a necklace - matched in size, shape, colour, and lustre. A strand with superb matching will cost more than a similar strand where the pearls graduate in tone or have slight variations. The highest-value pearl necklaces are often those in which every pearl looks identical to its neighbour, creating a uniform, seamless look - a sign of an exceptional and painstaking selection process.
When you combine all these factors, you can see why pearl pricing is a nuanced art. No single factor determines a pearl’s value; it’s the interplay of all of them. For instance, you might find a big baroque pearl that’s very large (good) but has low lustre and many flaws (not so good) - its price might be moderate. Conversely, a small Akoya pearl might be relatively pricey if it’s flawlessly round, with blazing lustre and clean surface (high quality in everything except size).
This is why you’ll see overlapping price ranges. As a rough guide, South Sea pearls (particularly golden or large white ones) are the most expensive type on average, followed by Tahitian pearls, then high-end Akoya pearls. Freshwater pearls are generally the most budget-friendly, though top-grade freshwater pearls can also command higher prices for their category. For example, a classic 7 mm white Freshwater pearl necklace might be £150, a similar-looking 7 mm Akoya necklace might be £1,000 (due to higher lustre and more labour-intensive farming), and a 12 mm South Sea pearl necklace could be £10,000+ due to sheer rarity. If you mix in all quality factors, the range broadens further.
Why Do Pearl Prices Vary Even Within the Same Category?
Sometimes you’ll compare two Akoya pearl strands with the same size pearls, and one is double the price of the other. Here’s where branding and provenance can also play a part. A prestigious pearl brand may charge a premium because their grading standards are very strict or their pieces come with added value (such as better clasps, certificates, or simply the brand name prestige).
Additionally, treatment and enhancements can affect value: most pearls undergo some mild processing (like gentle polishing or cleaning). But if pearls are dyed or heavily processed, they often cost less than natural-colour pearls. For example, inexpensive “black” freshwater pearls are usually dyed; a naturally black Tahitian pearl will cost more because it’s born that way. Buyers often pay a premium for pearls that have natural colour and minimal treatments.
Market demand also plays a role. If a certain pearl type or colour is very fashionable one year, high-quality examples might spike in price due to demand outpacing supply. Pearl farming is subject to nature’s whims - a bad storm or unusually warm season can reduce a harvest, sending prices up for certain pearls.
Finally, remember that unlike gold (which has a daily spot price), pearls don’t have a standardised price per carat. Each pearl’s value is assessed individually or by matching lots. There’s a bit of art and judgment in it.
Getting the Best Value for Your Budget
Knowing what drives pearl value, how can you ensure you’re getting your money’s worth?
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Prioritize the factors you care about: If your heart is set on large pearls, you might compromise on something like shape (perhaps opting for off-round large pearls to save cost). If you must have perfectly round pearls, you might go smaller in size to fit your budget. Decide which qualities matter most to you. Many buyers find lustre to be non-negotiable - a smaller, super-lustrous pearl can be more beautiful than a bigger dull one at the same price.
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Understand grading labels: As mentioned, terms like AAA or AA can differ between vendors. Rather than relying solely on a letter grade, look at the description or, better yet, the pearls themselves.
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Compare similar items: If you’re shopping around, compare apples to apples. Check the pearl type, size, and stated grade across different retailers. If one retailer’s 7 mm Akoya strand is much cheaper than another’s “identical” strand, find out why. It could be a sale, or it could be that the cheaper one has lower lustre or more blemishes that aren’t obvious in photos.
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Consider the source: Pearl farming and sorting is a meticulous process. Reputable jewellers source from trusted pearl farms and put effort into matching and setting the pearls beautifully. This adds value to the final piece. Sometimes a slightly higher price is worth it for better stringing, prettier matching, and after-sale support.
In summary, the value of pearls varies due to nature and nurture - the type of pearl and the quality it formed with, and the human element of how it’s graded, matched, and brought to market. By understanding these factors, you can better appreciate why a strand of South Sea pearls might be priced like a car, and why a simple freshwater pendant can be a lovely steal. Both have their place.
Pearls: Beauty at Every Price Point
The wonderful thing about pearls is that there’s beauty to be found at all price levels. A modest freshwater pearl pendant can have a delightful lustre and unique character without breaking the bank, while an exquisite set of Tahitian pearls offers an unparalleled aura for those ready to invest in a lifelong treasure. As you shop, remember that value is not just about the price tag – it’s about getting the quality you pay for.
At Raison d’Être, we take pride in transparent pricing and quality. We select our Maya Sienna pearls with an expert eye, ensuring that even our more affordable pieces meet strict standards of lustre and beauty. We want you to feel confident that the pearls you purchase from us are truly worth every pound, offering lasting beauty and joy.
In the end, the value of a pearl also comes from the joy it brings you. The “right” pearl is one that captivates you when you wear it. With your new knowledge of what affects pearl prices, you can shop savvy and find that perfect piece, at the perfect price for you. Happy pearl hunting!