Panther head with no marks/rubies. Fake or real?

Hi everyone! Came across an interesting pantherhead with no rubies or marks. Great condition, almost too good… Being sold by a reputable dealer in Italy (north of 1300E). They say the hilt is a bit loose, scabbard probably repainted. I’m confused by the eyes, and that protrusion on the head (probably the source of "looseness"). What do you guys think?

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