Why Do Pearl Prices Vary? The Ultimate Guide to Pearl Value Pearl prices can vary dramatically, even between pieces that appear very similar at first glance. Understanding factors like luster, matching, rarity, and pearl type can help explain why some pearls command significantly higher prices than others. If you have started shopping for pearls, you have probably noticed that one necklace might cost a few hundred dollars while another that looks very similar costs several thousand. In most cases, the difference comes down to pearl quality, rarity, and matching. Two pearl necklaces can appear