My apologies for all the gentlemen who are reading this. Unless you're Adam Lambert or you rap for a living, this post is not for you.
The thread rack. I bought these on sale for $10 each at Hancock Fabric. Walmart and craft stores also carry them. Spray paint it white (or whatever color you want) and mount on the wall; you have a great system to store your necklaces. It's easy to see what you have, keeps them untangled, and is easy to keep organized.
Stay tuned for a series on organizing your earrings!