Vintage Ice Fishing TIP-UP Automatic Underwater Burlington Wisconsin SCARCE REEL

Description

I have been a fisherman for a long time and have never seen one like this. The reel has a nice clicking sound and everything works as it should. It even has its original felt flag still mostly intact. I can only make out partial words on its original label; Automatic, Underwater, Tip-Up, Burlington Wisc.
I did not clean this item, natural patina, the wood dowel is warped with paint flaking off and it has areas of surface rust. Will need to be cleaned, oiled and new line if you are going to use it or just display it as..
Please enlarge all 12 photos for your most accurate description and size reference. Thanks for looking.