Pearls are mostly made of calcium carbonate, a mineral like the stuff in seashells. The mollusk lays down this mineral in very thin, overlapping sheets. Light hits these sheets and is reflected, bent, and split into colors, which gives pearls their soft glow and sometimes a rainbow-like shine called iridescence.
The more even and thin the layers, the stronger the shine, which people call luster. Pearls that have many thin layers look brighter and smoother than those with fewer, thicker layers.