Quote:
Originally Posted by perezfan
Jerry...
I see exactly what you are describing, and truly believe that lighter patch of red is due to reflection of the glass frame. I have photographed these things countless times, and that's the exact type of reflection you just can't seem to avoid when photographing.
REA is pretty meticulous with their descriptions, and did not allude to any fading of the pennant. I am 99.9% positive they would have mentioned it if it was indeed present. Heck, they even disclosed the "clipped tip" which was not even a real condition flaw! Let's call it a blunted Fishtail (as made). 
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Okay I confess, I won it. And I have one already. (I’d really like to get a blue version.) I knew the tip was fine, it’s just like the one I have (pictured). The exact pennant in the exact same frame went for more than double on Heritage five years ago. Also Hunt sold one awhile back with the same tip. So I’ll hope for an upturn in the pennant market or look for a good trade or something. .... I didn’t want to be a pennant hog but no one was bidding on the darn thing!
(I will add that I’ve seen this without the squared off tips, the blue versions more than red but I’ve seen it red, too. Just production variability, that’s all. I think I may have even seen this completely squared off without the “notch” ... but my memory is vague.)