The blade shows some tarnish, and some rust on the top side of the blade. The brass finger guard has some very light tarnish and the wrap around bolster and a little bit of the hoof has some "gunk" on it, likely dried blood from prior use.
The hoof is also in nice shape, with chips or cracks in the hoof, or loss of fur. The leather sheath is imprinted with a stag deer and stamped Made in Germany. Three stitches near the bottom are missing, but the sheath is firmly closed as the rivets are all tightly secured. Handle snap closes tightly to hold the knife in its sheath. Please review all of the photos as they are part of the description.Photos will supersede any written descriptions in case I missed noting anything or made an error in what I did write, so please look closely and ask questions if in doubt.