Superparamagnetic iron oxide particles, a new class of contrast agents for MRI, are extremely good enhancers of proton relaxation. However, the development of such particle systems has resulted in a wide range of preparations whose physico-chemical properties differ greatly. We have conducted a set of physical experiments: X ray diffraction analysis, relaxivity measurements, susceptibility determinations, and thermomagnetic cycling on different preparations of superparamagnetic particles. Our results demonstrate a good correlation between susceptibilities measured in liquid samples at room temperature and the R2/R1 ratio. Susceptibility measurements between liquid nitrogen temperature and room temperature show three different types of behavior dependent on the size of iron oxide crystals. Comparison of heating and cooling curves from strong field thermomagnetic cycles provides information about the maghemite/magnetite crystal content. The information on magnetic properties reported in this study may help to characterize and to select these materials for use as MRI contrast agents.