What you have is a "Political leaders" cockade, it would have come from the cap of a party official, which could mean anyone from the dog catcher in a small Bavarian hamlet, all the way to Hitler himself..... Basically anyone with a bit of rank in the NASDAP (Nazi Party). The red felt is not uncommon it those cockades, but yours looks to be in extremely good condition, Can you post a pic of the back side? Is the rest of the badge there as well? The complete cap badge would include either a silver or gold wreath, and a matching eagle like this one:
Unfortunately if there is no written history along with it, there is absolutely no way to know who's cap it came from. But, being a nice example it has some value, I haven't kept up with the values in a while, but I saw an example in worse shape than yours with an asking price of $75... Seems a bit high to me, but it wouldn't be surprising.... There are a lot of high quality repros out there, so you need to be cautious. A pic of the back will help me determine if it's authentic but I think it is.
Any other Third Reich items that you need info or authentication on be sure to let me know....
