Different types of cultured pearls :

Black pearls, frequently referred to as Black Tahitian Pearls, are highly valued because of their rarity; the culturing process for them dictates a smaller volume output and can never be mass produced. This is due to bad health and/or non-survival of the process, rejection of the nucleus (the small object such as a tiny fish, grain of sand or crab that slips naturally inside an oyster's shell or inserted by a human), and their sensitivity to changing climatic and ocean conditions. Before the days of cultured pearls, black pearls were rare and highly valued for the simple reason that white pearl oysters rarely produced natural black pearls, and black pearl oysters rarely produced any natural pearls at all. Since pearl culture technology, the black pearl oyster found in Tahiti and many other Pacific Island area has been extensively used for producing cultured pearls. The rarity of the black cultured pearl is now a "comparative" issue. The black cultured pearl is rare when compared to Chinese freshwater cultured pearls, and Japanese and Chinese Akoya cultured pearls, and is more valuable than these pearls. However, it is more abundant than the south sea pearl, which is more valuable than the black cultured pearl. This is simply due to the fact that the black pearl oyster Pinctada margaritifera is far more abundant than the elusive, rare, and larger south sea pearl oyster - Pinctada maxima, which cannot be found in lagoons, but which must be dived for in a rare number of deep ocean habitats. Black cultured pearls from the black pearl oyster — Pinctada margaritifera — are NOT south sea pearls, although they are often mistakenly described as black south sea pearls. In the absence of an official definition for the pearl from the black oyster, these pearls are usually referred to as "black Tahitian pearls". The correct definition of a south sea pearl — as described by CIBJO and the GIA — is a pearl produced by the Pinctada maxima pearl oyster. South sea pearls are the color of their host Pinctada maxima oyster — and can be white, silver, pink, gold, cream, and any combination of these basic colors, including overtones of the various colors of the rainbow displayed in the pearl nacre of the oyster shell itself.