At this budget you are buying something meant to last. The question stops being whether it will hold up and becomes whether it will get worn.
Buy the piece that fits her ordinary days, not her occasions. Something she can put on without thinking about it will earn its price many times over; something she saves for best will not.
Is this too much for a birthday or a friend?
For a close family member or a partner, no. For a friend or a colleague, it can feel like more than the relationship calls for. Match the budget to the closeness, not to how much you like the piece.
What should I look for at this price?
One thing done well. A single piece with clean construction and a metal she already wears is worth more than an elaborate one that tries to do several things. Restraint is what reads as expensive.