VFT4123
This rod was previously listed with Vintage Fly Tackle, and the prior description is as follows (we've included the prior photos in the listing as well):
For sale here is a Payne Model 201 bamboo rod in near mint restored condition. 8 feet, 3/2 for a 5 weight line. Classic Payne dry fly action, more on the medium side. Ferrules are size 15/64 and 10/64. The rod weighs 3.95 oz. Cap and ring over spanish cedar insert. The grip is in fine condition and has a plastic wrap on it, presumably from the person who restored the rod in a very fine manner (Ron McKinley perhaps). I am not certain if the whole rod was restored or not, but I can see that the wraps have had a light layer of over-varnish applied to them. Again, a very nice job. The rod comes with the original tube and a replacement bag.
The only thing I would add to this is that I have concerns about the tips being soft on this rod. While that's relatively rare with Paynes it does happen, so there is unfortunately some risk here that they may not hold up to prolonged use. As such we've priced it accordingly.