I think it's a toss-up as to whether it came from a locomotive or a boat. If the base is concave or rounded, I would say definitely a locomotive bell. If it's flat, chances are it came from a boat. I just can't tell for sure from the photos. If it is from a locomotive, it's probably a fairly old one, perhaps the 1890's-1905 because it has no provision for an air ringer, just the two arms to attach a rope. It might even have been on a locomotive originally and then later used on a boat. The cradle or yoke is unusual for a locomotive, though. Whatever, it's a very nice bell and well worth the $500 he's asking.
I'd go for it myself but I already have three locomotive bells.
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