This takedown version of the Model 1894 rifle was manufactured in 1903 and has an octagon barrel marked with the two line address and patent information ahead of the rear sight, two line smokeless/nickel steel marking below the sight on the left, and "32 W.S." on top at the breech. It is equipped with a German silver blade front sight and a "SMOKELESS/-32W.S.-M94-" marked adjustable rear sight. The top of the barrel and action correctly do not have the Winchester "WP" proofmark. The upper tang is marked with the three-line model and patent information. The serial number is marked on the front of the frame at the bottom. It is mounted on a smooth walnut forearm and straight grip stock with crescent buttplate.

Fine as partially refinished (buttstock). The rifle retains 70% of the original blue finish and most of the case colors on the lever and hammer. The right side of the hammer has brighter cycling wear and the blue finish is thinning in some areas from handling. There are some patches of light to mild pitting primarily confined to the receiver along with several dings and marks at some of the edges. The revarnished wood is very good and has only minor pressure marks and slight abrasions primarily on the forearm. The markings are crisp and the action is excellent.