You may want to see this necklace 'in person' before buying - it will be very, very tiny. But that may be what you're looking for. Yes, Tiffany is way overpriced, they're riding on their name. You can get something of equal or better quality (and size) elsewhere for less. But some just like to see that little blue box, and there's nothing wrong with that as long as the person is aware and willing to pay the premium price.
I love Tiffany but it can be quite a shock when you first go into the store and see how small some of the jewellery is after seeing items on the website.