The rarest of all cultured pearls, South Sea pearls are primarily cultured in the waters of Australia, the Philippines and Indonesia. The distinction between South Sea pearls and Tahitian or Black South Sea pearls are the oyster they are cultivated in. The South Sea pearls are cultured in the silver or gold-lipped pearl oyster and the color of the South Sea pearls are usually white or silver colored, but they can also come in shades of yellow or blue-gray with pink or green overtones.