LOL! Yes, I do appreciate that HMV (via Victor) exported different cabinet varieties to the European continent. In fact, the Trademark model was made in ash, maple, walnut, mahogany, oak and even white enamelled softwood! Has anyone ever seen one of those?
However I still think looking at the grain that this is definitely not mahogany. According to experts, woodworm does not attack mahogany either, which might give us another clue to its type. The grain certainly 'looks' identical to my teak machines anyway.
On the subject of the Cockle Shell Monarch, I too noted that the 'Y' clamp appears slightly rusty whilst the winder looks like new. The tone-arm and soundbox exhibit typical wear and tear whilst the horn and elbow look as though they were made yesterday. Starkton asked "How does that all fit together?" The answer is simply that it doesn't.
Having said all that, what are the opinions of you experts regarding the provenance of the horn etc?
Is it simply a re-nickelled original brass horn? Maybe the owner liked silver and not gold!
PS - Starkton, can you throw any light on the use of the black/gilt back-bracket? Is that correct or should it be back on a Victor machine? I can't recall ever seeing a black enamelled back-bracket on an HMV horn machine.