The elastic is stretched. The clasp opens wide and is very easy to use. It's over 10 years old and has been used, so there are fine scratches and stains. Please be sure to check the photos carefully. If you need any other photos, please let me know and I will add them. It shows considerable wear, but the leather still has a lovely texture. What do you think? Leather material... Cowhide Stains/tears... Yes