The invention relates to a multilayer nacreous pigment on the basis of a lamellar substrate consisting of a material having a refractive index greater than 1.8. Said pigment comprises at least (i) a first layer made of a material with a low refractive index, that is between 1.35 and 1.8; (ii) optionally a second layer made of a material having a refractive index greater than 1.8; (iii) a semitransparent metal layer which is deposited on the substrate or the layers (i) or (ii); and (iv) possibly a secondary coating. According to the invention the substrate consists of lamellar titanium dioxide, zirconium dioxide, alpha -iron-(III)-oxide, tin oxide or zinc oxide.