The value of the pearls in jewelry is determined by a combination of the luster, color, size, lack of surface flaw and symmetry that are appropriate for the type of pearl under consideration. Among those attributes, luster is the most important differentiator of pearl quality according to jewelers.
All factors being equal, however, the larger the pearl the more valuable it is. Large, perfectly round pearls are rare and highly valued. Teardrop-shaped pearls are often used in pendants.
Pearls come in eight basic shapes: round, semi-round, button, drop, pear, oval, baroque, and circled. Perfectly round pearls are the rarest and most valuable shape. Semi-rounds are also used in necklaces or in pieces where the shape of the pearl can be disguised to look like it is a perfectly round pearl. Button pearls are like a slightly flattened round pearl and can also make a necklace, but are more often used in single pendants or earrings where the back half of the pearl is covered, making it look like a larger, rounder pearl.
Drop and pear shaped pearls are sometimes referred to as teardrop pearls and are most often seen in earrings, pendants, or as a center pearl in a necklace. Baroque pearls have a different appeal; they are often highly irregular with unique and interesting shapes. They are also commonly seen in necklaces. Circled pearls are characterized by concentric ridges, or rings, around the body of the pearl.
In general, cultured pearls are less valuable than natural pearls, whereas imitation pearls almost have no value. One way that jewelers can determine whether a pearl is cultured or natural is to have a gem lab perform an x-ray of the pearl. If the x-ray reveals a nucleus, the pearl is likely a bead-nucleated saltwater pearl. If no nucleus is present, but irregular and small dark inner spots indicating a cavity are visible, combined with concentric rings of organic substance, the pearl is likely a cultured freshwater. Cultured freshwater pearls can often be confused for natural pearls which present as homogeneous pictures which continuously darken toward the surface of the pearl. Natural pearls will often show larger cavities where organic matter has dried out and decomposed.
Lengths of pearl necklaces
There is a special vocabulary used to describe the length of pearl necklaces. While most other necklaces are simply referred to by their physical measurement, pearl necklaces are named by how low they hang when worn around the neck. A collar, measuring 10 to 13 inches or 25 to 33 cm in length, sits directly against the throat and does not hang down the neck at all; collars are often made up of multiple strands of pearls. Pearl chokers, measuring 14 to 16 inches or 35 to 41 cm in length, nestle just at the base of the neck. A strand called a princess length, measuring 17 to 19 inches or 43 to 48 cm in length, comes down to or just below the collarbone. A matinee length, measuring 20 to 24 inches or 50 to 60 cm in length, falls just above the breasts. An opera length, measuring 28 to 35 inches or 70 to 90 cm in length, will be long enough to reach the breastbone or sternum of the wearer; and longer still, a pearl rope, measuring more than 45 inches or 115 cm in length, is any length that falls down farther than an opera.
Necklaces can also be classified as uniform, or graduated. In a uniform strand of pearls, all pearls are classified as the same size, but actually fall in a range. A uniform strand of akoya pearls, for example, will measure within 0.5 mm. So a strand will never be 7 mm, but will be 6.5–7 mm. Freshwater pearls, Tahitian pearls, and South Sea pearls all measure to a full millimeter when considered uniform.
A graduated strand of pearls most often has at least 3 mm of differentiation from the ends to the center of the necklace. Popularized in the United States during the 1950s by the GIs bringing strands of cultured akoya pearls home from Japan, a 3.5 momme, 3 mm to 7 mm graduated strand was much more affordable than a uniform strand because most of the pearls were small.