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The qualities that determine the overall value of a natural or cultured pearl or a piece of pearl jewellery are size, shape, color, luster, surface quality, nacre quality, and for jewelry with two or more pearls matching.
Size: When other value factors are equal, larger pearls are rarer and more valuable than smaller pearls of the same type.
Shape: Round is the most difficult shape to culture, making it the rarest cultured pearl shape and if all other factors are equal also generally the most valuable. There are exceptions as well, pear, oval, or baroque cultured pearls are also prized by pearl lovers because every pearl is unique in its own way.
Color: Natural and cultured pearls are in a broad range of hues. There are warm hues like yellow, orange, and pink, and cool hues like blue, green, violet and multicolored. Pearls have a wide range of tone from light to dark.
The law of supply and demand determines the value of certain pearl colors at any given time. If supplies of high quality pearls displaying a preferred color are low, their prices can rise to unusually high levels. Other complex factors, like fashion trends and cultural traditions, can influence color preferences.
Luster: Of the seven pearl value factors, luster might be the most important. Luster is what gives a natural or cultured pearl its unique beauty.
Within a pearl type, when other value factors are equal, the higher the luster, the more valuable the pearl.
18ct drop and Tahitian South Sea Silver Pearl earrings
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