Really special victorian bracelet featuring a lozenge shaped miniature of a horse. The 
horse has some dark spots on his neck which are now known as Bend Or spots after a successful racehorse - Bend Or won the Epsom Derby (then one of the most prestigious races in the world) in 1880. 
This could be him, it's not confirmed as there is no engraved name or papers.
 
Anyway the plaited mane bracelet is attached to the miniature with four horseshoes, each set with 8 turquoises, and the very pretty miniature is set under glass, the gold cased frame engraved with a foliate pattern.
Fits a wrist 6.25"
miniature measures - 40mm x 40mm 
gold cased, very good condition
strap is plaited horse mane hair, maybe from Bend Or