The pipe is likely German or Austrian, from the mid to late 1800's. It is Meerschaum with silver mounts. The stem is horn with mother of pearl inlays. There appear to be no defects with the pipe. There are normal wear marks, and surface scratches, but nothing that would compromise the function of the pipe. The fabric wrapped portion of the stem has no fraying or cracks. They could not find any markings on the pipe, so age and region are educated guesses. 

   The only issue found, is that the Stem is somewhat loose in the silver mount. But I was told that there were a number of ways to sure that up.