How do you define fake? Modern made but in the style of Persian Qajar period axes? If that is your definition of fake, then no, this is not a fake. It is a late Qajar period axe. How do you recognize a good piece? Depends on what your definition of a good piece. What do you look for in a good piece? This could be considered a good piece for a number of collectors and this could be considered a fairly average piece for a number of other collectors. I think you have to determine what you are looking for yourself. Do you want a functional, battle worthy piece? Then this is not it. Do you want a piece that is probably of wootz steel? Then this is not it. Do you want a piece that has fine chiseling? Then this is not it. Looks to be an etched pattern. Do you want a piece that is legitimately Persian and of the Qajar period that would be used in theatre or ceremonies? Then this is a perfectly good example.
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