Pearl Market (Hongqiao Market) 虹桥市场
Tian Tan Dong Lu, Chongwen 崇文区天坛东路
This is the best place to buy pearls and jewelry. The third floor is an Aladdin's cave of freshwater pearls, jade, antiques, handicrafts and ornaments, while the fourth floor is devoted to pricier, more upscale stones. Bargain hard or you will overpay.
Open daily 08:30 to 19:30.