It is in very good condition. The inside glass seems like it may be small for the frame -- it moves around a bit.
It may need to be replaced. The felt on the back is a bit worn. The frame is engraved with "Perri" and 2-6-92. This could be buffed out by an engraver or jeweler. It could use a light polishing.
The frame measures 4" x 5 1/2", and would fit a 3 1/4" x 4 3/4" picture. It is marked as shown. Please see my photos for details. We do not mark merchandise values below value or mark items as "gifts" - US and International government regulations prohibit such behavior. The item "SIGNED TIFFANY & CO STERLING SILVER STANDING PICTURE FRAME 4 X 5 1/2" is in sale since Tuesday, June 20, 2017.This item is in the category "Antiques\Silver\Sterling Silver (.925)\Other Antique Sterling Silver". The seller is "sandy810" and is located in Windham, Maine. This item can be shipped worldwide.