It is hand engraved. The style of engraving is known as "Corumbelle" after Hypolite Corumbelle who first designed that style with ribbons and festoons over English scroll. Corumbelle was a Belgian who started an engraving school in Bologna in the 1950's. He was also the father of Lyson Corumbelle.

I have a Garbi 200 that has very well executed Corumbelle engraving on it.

As far as the name Bernardelli used to catalog the engraving of the gun in question, I don't know.

C. Roger Bleile
Author of American Engravers-The 21st Century
FEGA Historian
www.engravingglossary.com