Watch List notes:

Large, natural pearl, Grade 1AA, 1.98 carats, ex-Santa Margarita (1622). Roughly 5 mm x 5 mm. Large, roundish natural pearl, iridescent white coloring all over, from a find of 16,000 pearls that were distributed to investors and divers at prices around $2500 per carat! From the Santa Margarita (1622), with Fisher photo-certificate 83782-200.
($350-500)