This is a leather studded tie from the early 1940s to 1950s, acquired from a vintage collector in LA about 30 years ago. It's deadstock and in beautiful condition. I've been collecting it for many years. Since it's leather (suede), there's some mold-like spotting, but it should come off with light maintenance. Studded items like belts are common, but studded ties are rare. The price of vintage items has been skyrocketing in recent years. I think items like this will continue to increase in value. What do you think?