That one was up on eBay a few years back. I bid on it, but lost out in the end. I really didn’t know the history and authenticity of the razor at that time.
The seller used to be active on several shave forums and informed me it was, in fact, a prototype. That was after I lost out on it. He said he used it a few times and that it was a good razor. I believe Gem made a number of these adjustable prototypes and gave them to the executives and workers to try out. Whatever the reason, it never got past the prototype stage.
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That's pretty cool. I have a MMOC on the way and I've been getting good shaves with my GEM 1912 Jr that past few days. An adjustable would have been pretty cool. The GEM blades are awesome. I wish the Oneblade took them without hassle.