Booked at short notice for a wedding. It was very tight at first so I opened it up with my multi tool which then made it too wide to hold a tie. After a bit of elbow rubbing, it was just the right amount to keep my tie on my shirt.
Pros
Simple to look at and a bit difficult to use, but it works well and looks good. Also inexpensive.
Cons
May not be suitable for casual events - may look too formal