Well, it's heavy gauge 925 ( 92.5 per cent silver, 7.5 per cent copper alloy ) Sterling Silver, hence the higher price I guess.
Obviously the jeweler has their retail mark up. A bought a 70 cm sterling silver curb chain recently ( at the same place I;m gonna buy this from )
but it's a smaller diameter than the one in the picture. The girl I know there gave me a 25 per cent discount.
I also buy Seiko watches from another jeweler in the same shopping complex, I get 15 to 20 per cent discount.
As for being trendy, yep, in the West I agree not so trendy now, but they are still very popular with ex-pats in places like Pattaya
and Cebu in Philippines. Gold chains are more popular in Pattaya than silver however ( heaps of gold shops in Pattaya as the more wealthy Thai bar girls often buy gold
as an investment, smart women, hehe! )
Personally I would not wear expensive jewelry anywhere in Phillipines. Pattaya in Thailand is generally very safe however.
I agree, silver bullion is the way to go. I have thought about buying silver bullion from the Perth Mint here in Australia. I had a look at their website recently.
I'm gonna buy a 55 cm gold chain to go with my silver chains, I have not decided which one to get yet.
The last time those were trendy, I’m sure that they were less than half that price. But  it, you do you, lol.
Buying silver bullion though, that might work out pretty damn good these days. Especially if you’re too chicken to  with the crypto shit...
I 'm gonna get me one of these: 55 cm Strling Silver flat concave curb chain:
424 AUD, but what the fuck, you only live once!