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http://www.olivia-seife.de/images/wbmasonetch.jpg

Tried to get a bit more out of it but its difficult from that auction pic.
It does not look all that bad.
You can clean off the little rust on...

Be careful, these steel polishing pastes ruin the etching as well.
The razor doesn't look too bad btw. I'd take it slow and just hone it.