I read ad one more time - it says powdercoat. While powdercoating was invented in 40s (if I am not mistaken) - don't think a lot of manufacturers used it (Belgian Bertin is the only one I know of). So I agree and think it is repaint. Still hoping someone will recognize the frame and shed some light on what is it. Ad mentions it was owned by local racer. I was thinking may be it was custom build for him but he raced in 60s-70s and frame according to seller is 30s (it does not look like 30s to me)