This price more than doubled the previous world record for the sale price of a piece of natural-pearl jewelry. The previous record was set in November 2004, when another two-strand natural-pearl necklace went for $3.1 million.
The Baroda Pearls once belonged to Maharajah Khande Rao of Baroda and date back to the 19th century. Legend has it that Khande Rao was crazy about jewelry and made the pearls part of the royal treasury, which already featured a 129-carat diamond.
The necklace became famous around the world when Khande Rao's grandson, Pratap Singh Rao, was photographed wearing the pearls by Henri Cartier-Bresson. At that time, the piece boasted seven strands, but it was later divided. The necklace just sold was made up of 68 of the finest pearls from the original.
Apparently this man was so rich that he lined his Rolls-Royces with leopard skins. He also gave away the Baroda Pearls. No one thought too much about them until they resurfaced in 2004 at Christie's "Magnificent Jewels" sale.
We've always been taught that a natural pearl forms accidentally when a grain of sand or some other irritant enters an oyster (or other mollusk) and settles inside the shell. The oyster then secretes a substance called nacre to cover the irritant and protect its delicate membrane. This process happens over and over for many years until, voila, a pearl is produced. Natural pearls are composed of 100% nacre.
A cultured pearl, on the other hand, is produced by implanting an irritant in the shell of an oyster. The oyster secretes a few layers of nacre around the irritant, and it tends to take the shape of whatever is inserted. It is usually left in for at least six months before harvesting.
Natural pearls develop in all-natural shapes; "perfectly round" is actually the rarest form. Cultured pearls can be distinguished from natural pearls in x-rays.