Mythos -> uses metallic flake
Phantom -> uses pearl flake
Info "borrowed" from another site...
Material
Metallic: Usually uses very small flakes of aluminum to give the car an obvious sparkle. These aluminum flakes are relatively uniform in size and are evenly mixed with the paint itself.
Pearl: This paint type uses small flakes of mica, a synthetic material that resembles the sheen of a natural pearl. The mica particles are also the same in size and mixed with the base paint.
Perspective-Specific Appeal
Metallic: Gives the car a shine that does not change color when looked at from a different angle. The hue of the paint stays the same no matter how you look at it.
Pearl: The shade of the color of the car will appear to change when you look at it from different perspectives. This gives an illusion of shaded and illuminated areas depending on the amount of light it gets.
Usual Applications
Metallic: Most of the cars with metallic auto paint are of sports-inspired designs with a generally edgy or race car look.
Pearl: Luxury family cars and sedans that are marketed in a corporate setting often use pearlescent car paint.
Light Reception
Metallic: Since cars with metallic paint get their shine from aluminum flakes, light is reflected. These metal flakes act like tiny dots of mirrors spread evenly on the car. This mechanism makes the car shiny in a glitter-like way.
Pearl: The mica particles found in pearl car paints do not reflect light. Instead, the mica flakes let light pass through them and then they are refracted evenly throughout the car’s surface. Unlike the metallic flakes, these mica specks act like very small prisms that refract white light into different shades.
Final Finish
Metallic: The aluminum flakes in metallic paint give a car a very apparent shine which gives it a loud effect.
Pearl: The mica particles in pearlescent paint give cars more of a glow than a shine. It makes cars look crisp, yet soft at the same time.
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