Color constancy denotes the ability to assign a particular and stable color percept to an object, irrespective of its surroundings and illumination. The light reaching the eye confounds illumination and spectral reflectance of the object, making the recovery of constant object color an ill-posed problem. How good the visual system is at accomplishing this task is still a matter of heated debate, despite more than a 100 years of research. Depending on the laboratory task and the specific cues available to observers, color constancy was found to be at levels ranging between 15% and 80%, which seems incompatible with the relatively stable color appearance of objects around us and the consistent usage of color names in real life. Here, we show close-to-perfect color constancy using real objects in a natural task and natural environmental conditions, chosen to mimic the role of color constancy in everyday life. Participants had to identify the color of a (non-present) item familiar to them in an office room under five different experimental illuminations. They mostly selected the same colored Munsell chip as their match to the absent object, even though the light reaching the eye in each case differed substantially. Our results demonstrate that color constancy under ideal conditions in the real world can indeed be exceptionally good. We found it to be as good as visual memory permits and not generally compromised by sensory uncertainty.