A Deep Dive Into The Value Of Pearls

According to Forbes magazine, a Filipino fisherman found the world's largest pearl off the coast of Palawan at 26 inches long and 12 inches wide. It has been valued at $100 Million. 

Do you know where the saying a pearl of wisdom came from? 

It was because of the connection between pearls and their rarity & preciousness. In fact as early as 5 Millenia ago Plato’s philosophical views were that wisdom is precious and sought after. The symbolism is further rooted in the fact that pearls formed over years within a mollusk, symbolise knowledge and wisdom acquired over a lifetime. 

How long do Pearls take to form within a mollusk? 

It usually takes a minimum of 6 months for a pearl to be formed within a mollusk. However some pearls can take years to be formed, especially larger pearls. 

South Sea Pearls often referred to as the Rolls Royce of pearls take the longest to be harvested. Each Oyster shell should reach around 3-4 years of age before the shell can be seeded. Then it takes a further 2-3 years for each pearl to form once seeded. 

What determines the value of a pearl? 

There are 7 main value  factors that determine the value of a pearl; size, shape, surface quality, lustre, nacre quality, colour & matching. 

NACRE QUALITY

Nacre thickness is very important and it is connected to all the other value factors of pearls. Without a thick, well-layered nacre a pearl will not look as good or last as long. 

SIZE

As mentioned already, larger pearls take longer to form and this means increased cost. Size can contribute hugely to increasing prices by each single millimetre because larger pearls are much harder to cultivate and much more scarce. 

SHAPE

An important factor is shape. Perfectly round pearls represent less than 5% of all pearls harvested. This makes the round pearl the rarest and most valuable of all pearl shapes. 

Semi-round pearls appear to be like round pearls however upon closer inspection slight imperfections can be noticed. These are more commonly harvested and therefore less expensive. 

Drop pearls are the second rarest pearl shape and account for 15-20% of harvested pearls. Drop pearls are tear-drop or pear shaped. The more evenly symmetrical the pearls are the more in demand and the more appropriate for jewellery. 

Lastly, baroque pearls are a wide range of random irregular non-spherical shapes. They usually represent around 40-50% of a given harvest. They are more affordable than other shapes. 

LUSTER

Lustre is possibly the most important factor determining the value of a pearl. It is the amount of light reflected on a pearl and the higher the lustre the more valuable the pearl. In other words lustre is how bright and shiny a pearl appears. 

COLOUR

Colour is also an important factor. For example, pearls can have overtones to their main body colour which increases their value. The Tahitian ‘peacock’ pearl is a green-grey or blue-grey pearl that has rose or purple overtones and is one the most sought after and expensive types of pearl. 

SURFACE QUALITY

This is the measurement of how clean, smooth and free from blemishes a pearl appears. 

Due to pearls coming from nature - there are no flawless pearls. There will be some blemish even if not visible to the naked eye. The important point to note is how noticeable imperfections are and if they will affect the durability of the pearl. 

With increased surface blemishes such as abrasions, minor colour variations, bubbles on the surface and wrinkles all decrease the value of a pearl. 

MATCHING

Lastly, when pearls are paired together to make a necklace, for example, the compatibility of the various pearls will furthermore affect the value of the pearls. 

In addition to these value factors it is also important to note that natural pearls will cost more than cultured pearls. 

Natural pearls are much rarer than cultured pearls and represent less than 5% of the pearls available on the market. 

What type of pearl is the most expensive? 

Depending on the origin of pearls, the 7 value factors will by nature vary greatly. 

SOUTH SEA PEARLS 

For example, south sea pearls are the largest type of Pearl that grow usually to around 8mm to 20mm in width. In their larger sizes, their rarity is extraordinary and will command exceptionally high price tags. 

South sea pearls are grown in places such as Australia, Indonesia & the Philippines. 

They are usually pastel in colour ranging from white, to creamy champagne and pink in hue. They are often found in white and gold which is considered the crème de la crème of south sea pearls. Classic white pearls are very popular and so too is the beautiful golden colour of the south sea pearl. 

Golden south sea pearls are some of the most valuable pearls produced today. They are grown in the gold-lip variety of the Pinctada Máxima oyster. 

The value of a golden south sea pearl is heavily dependent on the colour. The deeper the golden colour, the more valuable the pearl. The deepest golden colour, often referred to as 24 carat, is considered the most valuable of all south sea pearls. 

A perfect strand of deep golden south sea pearls in large size will fetch prices over £100,000.

South sea pearls are known for their excellent lustre. 

Generally speaking, South Sea pearls are the most expensive pearls. Followed by Tahitian pearls & then Japanese Akoya pearls. Freshwater pearls are the most affordable pearls. 

TAHITIAN PEARLS 

Tahitian pearls often referred to as black pearls are grown in the black lipped oyster, called Pinctada margaritifera cumingii. They come in a wide variety of dark colours. 

Tahitian pearls generally range from 8-16mm in width. 

While their body colour is usually a dark black colour. One of their most striking features is their colourful overtones from silver and gold to greens, blues, reds & pinks. 

Tahitian pearls can only be cultured in a few remote parts of the world in saltwater farms. 

It takes 2 years for a Tahitian pearl oyster  to become mature enough to be able to produce an oyster. It then takes at least another 2 years for a pearl to develop inside the oyster! 

Also the threat of typhoons wiping out entire populations of oysters and farms adds value to successful productions. 

Tahitian pearls are very rare & also a unique, distinct type of pearl.  Their stunning colours, lustre & iridescence puts them in high demand and so it is no wonder that a beautiful high quality Tahitian pearl necklace could cost you £20,000. 

AKOYA PEARLS 

The akoya pearl is a saltwater cultured pearl from the Pinctada fucata martensii oyster. Akoya pearls are considered to be the classic pearl used for jewellery. With neutral colours & bright mirror-like lustre.  

The akoya oyster is the smallest of the oysters used for creating cultured pearls. Akoya pearls being harvested usually range from 1mm up to around 11mm. 

Akoya pearls have neutral colours & overtones. Most have body colours from white to grey and then have overtones in pink, green & silver. Akoya pearls are never black like Tahitian pearls! 

The vast majority of the world's akoya pearl production of pearls comes from Japan. Although also found in China, Thailand, Vietnam & Australia. 

FRESHWATER PEARLS 

Most freshwater pearls on the market come from China. Some freshwater pearls however still come from Japan, the USA, Thailand, India & Vietnam. 

Freshwater pearls are the most abundant type of Pearl. 

Unlike saltwater pearls, freshwater pearls can produce multiple ( up to around 40) at a time. This factor makes them more commercially viable at lower price points. 

At freshwater pearl farms each mussel is surgically implanted with 24 to 32 tissue mantle particles. The mussels then begin secreting layers of nacre around each tissue piece until eventually a pearl is formed. 

Freshwater pearls come in a wide range of colours from white & cream to a rainbow of pastel colours such as lavender, pink & peach.  

Freshwater pearls typically range from tiny 1mm to 15mm pearls. 

So what is the value of pearls ? 

In ancient Roman times only natural pearls were available and someone would have to dive down to the sea bed to find oysters to gather any pearls and only a very few oysters would yield a Pearl so hundreds of attempts would have to be made to just gather a single Pearl. And it is believed that only half of the divers would survive. 

In fact, Julius Caesar once imposed a law that meant only the aristocracy were allowed to wear pearls inside of Rome. 

Nowadays with the explosion in popularity of cultured pearls, pearls are certainly more accessible than they were in Roman times. 

Nonetheless, the law of supply and demand means that pearls like Golden South Sea pearls could easily cost into the tens of thousands of pounds. Whereas a small beaded freshwater Pearl necklace with average to poor luster, shape & skin quality may only cost you ten pounds. 

Lovers of pearls range from Audrey Hepburn & Coco Chanel to Rihanna & Scarlett Johansson & pearls have been in fashion for thousands of years and most likely a thousand more years to come!