Spot The Steal - Max and Cleo Cutout Initial Pendant

I've been looking for a fabulous initial pendant for a while now, and though I'd rather snag the Max and Cleo Initial Pendant I happened to find a cheaper version of the chic necklace for under $50. I might just go ahead and grab it, and pile it with layers of necklaces...or alone ;).

What do you think, would  you snag an initial pendant for your collection?