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+1
Most old strops are pretty bad, I've bought two good ones out of hundreds seen. Most are badly nicked or cracked or covered in gunk. But the two working ones I've found are pretty nice!

I did the same thing, it's my goto strop now. They will drink up lots of Neatsfoot oil, especially if they are really old.

If it's not all creased and nicked it should work, just get some Neatsfoot oil and soften/condition it.
There should be good info in the Wiki