Pearls in jewelry :
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.

Inexpensive, button-shape cultured freshwater pearls used in a necklace and bracelet.
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, round 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 to them than more standard shapes because they are often highly irregular and make 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.