Or somebody took it apart and stuck it back together the wrong way? Could be a mfg defect although they seemed to be alot more careful back then than they are now.
I don't think you can take this apart very easily. I have a case just like that, and upon closer examination, I see that the black fabric is all one piece that actually goes down into the bottom of the case. I have to believe that this was a factory goof.
They are great razors. If you don't have one already, I would go for it, but I wouldn't pay much more than $15 including shipping.
It looks like a nice fat handled tech at a good price. Is that a New or an Old? Its a bit hard to tell from the pictures. I dont remember them coming in fat handles but I could be wrong, as I dont like how they shave so I never payed much attention to them.
It's hard to tel from the pics, but some cases have a separate piece of cloth covering the hinges. If that's the case here, one could invert, if one could get it off without destroying it.
That is the 1936 Red and Black Set NEW. I have two of them in cases. It has the bar handle. They are great razors and that price is fantastic, especially with the case. I couldn't possibly sell either of mine for that little. I have a recently required one in much better shape.
Even if it is a seperate piece of cloth, it is attached in such a manner that it looks like a single piece, and it would take a lot of careful effort to remove it, flip it, and reinstall it. I really don't think it is feasible to do that without tearing it up. Besides, why would someone want to do that anyway?