Natural pearls, historically found in the waters of the Mediterranean Sea and off Central and South America, have almost since become extinct through overfishing and pollution. As such, 99% of all pearls produced in the world today are cultured pearls.

Natural pearl shapes vary from free-form seed pearls, blister pearls, and cluster pearls to larger conical-shaped pearls.

Off the coast of New Zealand is a place where natural pearls occur. Divers search the area for "paua", which is the Blackfoot Abalone. These mollusks produce the rarest pearl on earth. The iridescent nacre of the Abalone pearl shows an extraordinary range of colors from deep azure to peacock green, red-orange and magenta.