The Value of Jewelry

Here on Top eBay Chess Items by Price, I can't remember having a post about jewelry, while a search for the term on this blog returns 'No Results'. In my previous post, The Value of Art, I had to admit,

I can't explain why an unknown artist sold for nearly five times the price of a known artist.

In this post I have to admit that I don't understand the price at all. The item below was titled, 'RARE Vintage 1930s/40s Bakelite CHESS PIECES Heraldic Design NECKLACE'. It sold for USD $1496.25 with the further explanation 'Was: $1995.00, Buy It Now, 25% off'. Why is the necklace worth that much and why was it marked 'Buy It Now, 25% off'? I simply don't know.

The description started,

For sale here is rare and wonderful vintage 1930s/40s hand-carved and painted Bakelite 'Chess Pieces' heraldic design necklace with rhinestones and seed pearls. Super rare and desirable necklace! Guaranteed genuine vintage 1930s Bakelite necklace, not a reproduction or re-make from old parts. Measures 20" total length, and the pendants are each about 1-3/4" by 1-1/8" wide. Excellent vintage condition with some wear and tarnish to some of the metal parts as shown

The rest of the description provided details about the seller's expertise and said, 'I'm on the list of advisers for both the second and third editions of Warman's Jewelry by the late great Christie Romero.' It looks like I would have to study that reference to understand the price. I'll save that for another time.