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a pearl with dimples would be more valuable as it is natural.
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Your friend was incorrect, or there's a misunderstanding as to what he meant. Pearls with dimples or other imperfections are worth less than clean pearls (all other factors being equal).
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He also said the most valuable ones would be the round 10mm white south sea pearls that the Queen wears!
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Absolutely! The Queen's pearls are some of the most valuable because the Queen wears them. Of course 10mm white South Sea pearls in general (ones the Queen hasn't personally worn), are worth less than larger South Sea pearls (all other factors being equal).