hahah yea its not very easy to see in my first pics, but yea, without a doubt its a plumb
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An unused Plumb commercial/industrial rafting head! One that somehow worked it's way down to NZ. These never were hardware store specials (far as I know) which would make it wonderful if this implement could be coerced to talk. Plumb factory permabond hangs came into common use in the mid 1950s which makes me wonder if sales of heads might have been discontinued at about the same time.
As a collectible you're best off to leave it entirely alone but as a 'top drawer user' I guess you're entitled to scrape off the paint, engineer and craft a befitting handle, and truly enjoy fielding it. Resale won't have changed much 50 years from now (whether you use it or not) but at least you'll have got your money's worth.