This thing is gorgeous! The brand appears to be Marcelli (according to the engraved tailpiece), which sounds Italian, but the labels clearly show the mandolin to be German in origin (see the close-ups of the label in the 'more pictures' link below).
The mandolin is incredibly light and resonant, with a solid, fine-grained German Spruce top, and what appears to be a Mahogany and Ebony bowlback body and neck.
This vintage mandolin (I would estimate 1940s or 1950s) is totally original, right down to the original hard shell case, and even the vintage spare strings in the case pocket! (once again, check the 'more pictures' link below)
The case is in fantastic condition, other than a broken leather handle, which would be quite easy to repair with a new piece of leather strip.
The mandolin sounds beautiful - very loud and clear, and has a good action with negligible fret wear.
I just received an email from a good customer in Germany, who has some very interesting comments! He wrote; "Referring to your Marcelli Mandolin, my educated guess would be that this is pre-1949, if not pre-war. "Markneukirchen" is THE place for instrument production in Eastern Germany, so after 1949 (the year of Germany's final separation) the label surely would have read "made in G.D.R". Btw, today Markneukirchen is home to the Warwick company, famous for their basses and the resurrection of the Framus brand."
Sold to Nick