Although the sale says up to 50% off, a lot of items are actually 50% off. There are some really nice earrings for less than $100 after discount, and lots of necklaces for around $150. Some charms are less than $50. You can check what you like on the website and go to the store to try on and buy. The sale is on at any Swarovski stores and also the Swarovski counter in Myer.
I got this one http://www.swarovski.com/Web_US/en/5037553/product/Azore_Str… for $152 but for some reason it is not found on the Australian Swarovski website, so I'd say the stores might have more stock than what you see on the website.
Not sure when the sale finishes.
That's a very good deal for some fancy glass