I have a ca 1901 Sauer/V L & d Knock About that appears to have the same basic action. If so this s a back action lock, which it appears to be in the picture. The sear is mounted vertically on the plate & hinges in the middle. The sear notch on the hammer is on the outer periphery of the hammer giving the best possible purchase, ie farthest possible from the axle. Overall an extremely good design in my opinion.
The Knock About is of course nowhere near this Fancy.
Miller, sorry to hear of your health issues and I wish you all the best. Have enjoyed your posts here over the years I've been around. Hope to continue to enjoy them for some time.
I have an early Sauer sidelock as well, made on a similar action so it likely is very close to yours although mine is labeled as a Sauer. Remarkably svelte design. It's a 12 gauge and down around 6 1/4 pounds with 29 1/2" barrels. Honestly it carries like a 16.
It's a project gun so it will be a while before all is done on it but with new wood, and fresh finishes on the action and the Damascus, it won't be a $65000 gun but CJO tells me it will be likely as well made. LOL
BTW, It is CJO who has the Sauer Model 29 Meisterwerk. It is quite something. Even if gold isn't one's "thing". http://i242.photobucket.com/albums/ff192/therustickshell/WORKPICTURES043.jpg