Kai, you're right. I was just going to post the same remark. 
 
I have made a few contrast enhancements on the photo. One can clearly see : 
- twisted pattern 
- welding lines 
 
This is obviously a nice pattern welded blade. Would really like to see it re-etched !
		 
		
		
		
			
		
		
		
		
		
		
		
	 |