The pieces in this vanity set were originally purchased as white wares or blanks for hobbyist or home painters (generally women) to decorate. In this case, the person was someone named L. Davis who decorated the set.
The pieces stamped T&V were produced in Limoges, France by Tressemann & Vogt.
The pieces marked MZ were produced in Austria for Moritz Zdekauer.
The set dates to the turn of the 19th/20th centuries, circa 1900.
The gold is real, however there is no longer a precious metal value to it as the cost to extract the gold would exceed the melt down value of what could be extracted. Any owner can ask any price they please on any items they own, the key factor is finding a buyer at the asking price. On today's market, hobbyist hand painted vanity sets married together with pieces from various makers realistically sell at auction for $100 - $200. $675 is a legitimate asking price, though aggressive.
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