Here is what I would consider a WWII vintage AMCRAFT-made wing. You can see that the base wing is (like Marty mentioned) a "target" and not an observer badge.  You can also see the distinctive AMCRAFT type forcer that gives the badge a "pinched" look--also the hallmark.   Ive always liked the AMCRAFT patterns.  But they did seem        However, it seems that AHD (Dondero alpha/numeric code = D2) bought or acquired the dies and made similar wings (probably late 50s/60s). The pilot versions are rather common, but IIRC I have seen some of the other ratings with the D2 or Dondero hallmark.    Note that the back is not an exact match to the war time AMCRAFT-made badges.  I do not recall, but I believe AMCRAFT was not a company that survived into the post WWII reductions of the military and was likely out of business by the Korean war.  

I was gifted these today by a friend who is always going to estate sales. Military items are not his forte'.

The quarterly ASMIC military swap held at the OWL fire dept just off I-95 exit 160 in Northern Virginia is a plesant 70-ish table show.  My purchases focused on Female, Formal, and few outliers.  The vendor with the bullion was well stocked and reasonably priced, very pleased to acquire the black background female hat device. Most of the bullion was made in Japan, and have pins for clutches.  The WAC collar pins and hat device all original pieces with the enlisted sets all being different, see back sides.  A few Chaplain ID bits, Lt Cmdr shoulder boards, the NOS Rabi pins in package very nice, the small blue book is a religion dictionary about WWII era.  The sewing kit was reported to be WWII Navy but it looks more like 1960's, thread has some use, most of buttons present.  The shemaghs were both made in India, NOS with many quality control stickers on them in non-typical colours.   As usual it was a friendly, no stress show with a wide variety of militaria for sale.  If there is interest, maybe I can make photos of a selection of table offerings, next show is first Sunday in August.  Cheers, Armygas

Ita Vero! 

Pretty sure it's caveat emptor, not caveat venditor...

Correct

Looks like woodland to me?? Either that or I'm going crazy.    Wade

Here are some photos of my similar Bombardier wing for comparison.  

Depending on provenance, I think $1800 is a ballpark. 

I found the C catch system and its history interesting and studied it many decades ago. The design was actually part of a patent that included the brass belt end keepers and the sheet brass adjuster or keeper slides on each side of the catch. The US Army adopted the new Mills belt with c-catch system in 1895 at the time they began receiving the new Krag rifles & carbines. The former arsenal cast H-plate system used with 45/70 belts (and the open buckle for the mounted service 45/70  belts) was then discarded.   When the Spanish American war arrived contractors for cartridge belts to supply the 200,000+ troops  adopted the same fastening system. which If I recall right was licensed through Mills-Orndorff. The one exception being the Spalding outfit which made the cheapest belt of all with its distinct plain belt ends and heavy round wire catch and adjusters.      The biggest issue or problem with the C-catch system, as far as history is concerned, came about much later via the military surplus and modern era collecting period. A lot of surplus C-Catch belts got married to a variety of belt plates in order to sexy their appearance up. The authentic but boring c-catches were converted to more exciting belt plates with their neat designs and/or US on it. Then, to really muck up history a number of reference books were put together. And the misinformation flows to this day. Poor c-catch system. Plain and boring as it is, its still an interesting step in belt fastening history before the newer systems came into being scarcely a decade later.  One of these days I hope to make a basic guide for their use.