Just picked this up at the store where I manage the guitar parts concession. The guy who sold it brought in a ton of other stuff, most of it priced top-of-market (e.g. a heavily-scuffed early Boss analog delay for $250); this was the only thing he wasn't sure how to price. It appears from what I can learn from Framus' vintage archive to be a Texan 12-string, circa. 1972. It features an adjustable steel saddle, "fret nut", rounded back, and someone has added a self-sticking left-hand pickguard to the screwed-on right-hand pickguard, and what appears to be aftermarket open-gear tuners. The neck is one of Framus' "multi-ply" necks, same neck style as on my very first bass...a Framus short-scale. These necks are like concrete! Fret wear looks minimal, action is amazingly good! The construction of this is unusual in another way: the neck is probably the same paddle used for their electrics...it has a heel on it such that if the body was ever destroyed, the neck would probably transplant VERY easily into a bolt-neck Strat body. There's a big 12" crack along the middle of bottom side starting about 2" below the strap pin, but it looks like it's been carefully mended. Fair bit of wear, of course.
The tone is...well...interesting. It's thinnish, and lacks body in the bottom end, and you can definitely hear the steel at the saddle and nut...but it's also very mellow as you'd expect from 40-year-old wood. Not sure if it stands up well as a solo instrument, but I played this this afternoon beside a friend's 6-string Takamine dreadnought and it made for a nice complement...it seems to have something of cowboy-slash-jazz tone to it...not my favorite tone for a dreadnought.
The guy who consigned it wasn't sure what to ask for it; he put it on the floor two hours before I got to the store at $100, I might have been the second person to even see it on sale. I think I stole it...I'll bet the neck and bridge alone could fetch at least that much. Might be a keeper (that neck would look good on a Jazzmaster body if the body ever lets go), but if I can double my money on this fairly quick, I'm not sure it'll be around for very long! Fun stuff.
I posted a closeup of the headstock as well...Framus used these string guides on nearly all of their instruments, and you can clearly see how their multi-ply neck construction works.