Looks acid bathed to me, but there's no mention of how it was done. Mudguards are stainless GB, don't think those rust like that naturally.
Also the frame is aluminium.. So it must be just paint.
@Jaap started
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Jaap
Looks acid bathed to me, but there's no mention of how it was done.
Mudguards are stainless GB, don't think those rust like that naturally.