Another mystery Kentucky, the KF-03 Mandola (?)

[NEH57]

This sold on Ebay in the Uk last month. I didn't buy it. It was listed as a 'Mandolin' by a Charity Shop. It doesn't look like a Mandolin to me ? My senses told me, along with a lack of hard info on-line, that it was unusual, if not down right rare and 'probably' of value.
In light of the other current thread re. an unusual Kentucky and still bothered by not knowing, given that it sold at no real money ( in £ or $ ) did I/others miss out on a 'gem' ?
I suspect that if someone bought it as a Mandolin they were probably disappointed when it arrived, by it's long neck and a need for a stretch, but they probably just kept their head down and thanked their lucky stars if they were after an 'early' Kentucky Mandola and that is what it is and they recognised it ?
I did find an obscure reference in an old Cafe thread to KF's, after I had 'bottled out' on putting a bid on as I wasn't sure. The number of mentions of 'F' style Kentucky's muddied the water too much for researching effectively. I think it is probably a 'short run' special by one of the principal Japanese luthiers.
Either way, given that I'll never see it again, it's useful for historical reference purposes to know these things.

[Rob Beck]

That looks exactly like a Trinity College octave mandolin TM 325 I used to own (apart from the label and Kentucky logo). Even the headstock shape is identical. The current version seems to have a slightly more oval sound hole, but mine was quite round. I suspect it is a re-badged one of those.

[allenhopkins]

Both Trinity College and Kentucky being Saga brands, Rob's hypothesis seems pretty likely.