While the Black Pearl is the sunken ship at the center of the second Tall Tale of Sea of Thieves: A Pirate’s Life, there is another shipwreck of note during this story quest. The Silver Blade has a presence in The Sunken Pearl Tall Tale, and you’ll be finding journals from the captain throughout the quest. Later in the Tall Tale, you will actually find the wreckage of the Silver Blade and utilize it in combat. The captain’s quarters is locked, however, and you have to had retrieved the key earlier.
In Chapter 3 of The Sunken Pearl, once you reach the Siren Citadel, you will reach a flooded cavern with three statues. Hit the three statues so that their gestures match those of the wall artwork, and swim up to air. Coral will be in the way, but if you look through the holes, you can see a large statue with a conch shell — shoot it with your firearm to activate it and lower the water level. After defeating some Ocean Crawlers, open the door ahead with a pulley.
Go up ahead to another pulley that will lower a broken ship hull to use as a platform ahead. From higher ground, go to the back of this cavern onto part of a shipwreck. Keep going around against the wall of the cavern and spot a small cave for you to enter. At the end is another piece of statue art, and a coral wall separating you from the previous room. You will have to shoot those three statues again, preferably with an Eye of Sight. The shipwreck from before will have a weapons box to change your weapons if you need to. Once the statues are matching, go back to the shipwreck, look through your Eye of Sight, and aim to the top right to look for the large statue with the conch shell. Shoot at it, and you will raise the water level.
Swim to the center of the cavern and climb up the ladder to get up a platform. Use the pulley to pull a wooden plank up, and use it as a bridge before it falls back down. At the crossroad, go to the left, down a wooden plank bridge. Keep going ahead and to the right into a cavern shaped like a mouth, and at the end will be a pedestal of sorts with a Silver Blade Key. Grab it, and you’ll have to jump back into the water, go up the ladder, and make the bridge again. Go to the right past the large statue, and open the barrier ahead by shooting the switch above.
Hug the wall to the left, and you will find the Silver Blade. You will meet conflict here against Ocean Crawlers and cannons, but in between battles, be sure to take the key to the back of the top deck and open the captain’s quarters. There you will find the Chest of Everlasting Sorrow for the Chest of Sorrow Commendation. It will be a hassle to lug around for the rest of the Tall Tale, but at least the commendation was worth it.