Farlow's of London 3" Grenaby Fly Reel AL Walker The cork appears to have

The cork appears to have perhaps been cleaned and remains in excellent condition free of ridging or other defects though the rubber butt cap displays some minor cracking

I've seen very few Paynes like this come to market

There are however no signs of use on the anodized sideplates and the reel foot shows no use

Excilin cloth case

simply a loss of finish which you won't even see with new line and backing on the reel

Farlow's of London 3" Grenaby Fly Reel AL Walker The cork appears to haveFor sale here is a classic reel from Farlow's of London a 3 inch Grenaby reel with Holdfast logo. Fixed check. No wobble but a fair amount of spindle slop. Very minor line grooves. Free of cracks, chips or dings. Correct smooth brass foot attached with two screws. Handle spins freely.