Thank you for contacting Mearto with your appraisal inquiry.

It is a beautiful Theodor Fahrner necklace. Such vintage jewellery are being offered at auction on a regular basis.
The necklace is made of sterlingsilver and was designed by Theodor Fahrner in the 1930s. The design and shape of the necklace is typical of this era. It appears to be in good condition which is important when pricing items like this.

I believe that it would attract the attention of both collectors and dealers if it came up for auction.
The estimate provided is for a well-advertised specialised online silver jewellery auction, where I believe the necklace has the best chance of realising its fullest potential. However, there is no measurement for the sentimental value you might attach to the Theodor Fahrner. Retail "asking prices" can be higher and vary.

Please let me know if you have any additional questions. I’m happy to help.
Thank you