Vintage sterling silver pendant set with an oval cut blue sapphire, between two round cut diamonds. Pendant is on an Italian sterling silver chain necklace. Has patina and surface condition issues. 

Check out the matching pair of earrings here:

Sapphire is approximately 7x5mm. ~1ct

Diamonds are about 1mm diameter, 0.010tcw

Pendant - 3/4 x 3/8" - 1.8g - Marked "('GFI' logo) 925"

Chain - 17 3/4" - 2.2g - Marked "925 ITALY"