Your star is a post 1918 copy of the grand cross star to the Prussian Order of the Red Eagle which was made by the firm Meybauer firm in Berlin.
Meybauer made post 1918 copies of a wide range of Imperial German decorations. I must say that this is the first time that I have seen an order star which was made by them. Although styles changed over the years, an issue star would look more like the one pictured below.
As to value, being a copy, I can not even make a guess.
Wild Card said yet the most that is to say. I can add that I do not believe these stars to be for receipients but rather for actors at the theater. They are selling for about 250,- Euro.
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