New York-made Favillas are some of the best baritone ukes (and soprano ukes, for that matter) on the vintage market. They have their own character which tends towards an airy, loud, open, but sweet "flamenco" tone. Easily-playable necks, simple appointments, a rugged build, and good wood is what makes them so functional and practical.
Apparently, the owner of this uke has become a vintage Favilla fan of late. He's got a good eye for them, too, and snagged this one which is in incredibly-good shape. My only work was a fret level/dress, slight bridge saddle shave, install of some Gotoh UPT 4:1 geared pegs, and a setup. The strings are all "plain" because the owner uses low-G GCEA tuning rather than a baritone-range tuning. It gives it a full "concert uke" sort-of sound.
Because it's a 50s Favilla, the nut and saddle are bone.
The new geared pegs are slightly lighter than the original friction pegs. It's the aluminum fittings on them that allow them to be so lightweight. I have these pegs (with various buttons) on all the ukes in the house!