The case for it looks old. There's one in a similar case on the wiki (3rd pic). It's made out of a type of soft mineral. Yours looks like a nice one. Let us know what you find out. Says it's been banned from export from Turkey in the 70's. Interesting piece.
Anyway, cigarette holder or pipe. Made in Turkey probably. Pre 70's. Notice yours has three different tone in color. I'm no expert but the case looks very old (hand carved?) so I'd say it's at least vintage. It's probably worth what you paid or more. Can you pinpoint the age? I can't find one like it.
Probably worth more to a collector than you paid. Looks nice, nice carving, not too much colouration by use.
The mouthpiece looks to be made out of striped amber.
They were quite the pipe to have around my area in the late 70's for smoking pot out of them. You were a cool cat if you owned a meerscham pipe, dig it?