In this paper, the market situation of the pearl industry is examined and changes in its structure are related to new technologies. Differences in the industry’s socio-economic impacts are explored, sources of market supply are specified and factors involved in the marketing of pearls are given particular attention. Most, but not exclusive attention, is given to the experiences of the Australian pearl industry and that of French Polynesia. Australia is the major global producer of South Sea pearls and French Polynesia is the main supplier of black pearls.