It doesn't look good, does it?
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Aside from the coloration issue, the scales , with a burn , crack at the pivot ....... lot of fish in the sea. I'd wait for another one to come along.
I have a few carbon steel knives that have this "Ora" to a much lesser degree and it is entirely due to patina and is not a bad thing at all (in the case of my knives).
HOWEVER, I know the history 100%. This razor OTOH has a mysterious distortion on the handle. If this coloration was heat induced I'd walk the other way.
I have tried unsuccessfully to photograph this effect on my knives...perhaps that demonstrates how slight the "sheen" or "Ora" is.
I was going to say it looked a little like just oxidation patina, but after seeing the auction pics I would definitely avoid that one. The coloring looks very regular and like it came from a source (heat). I don't think I'd risk 5 bucks picking that one up.