I don't know what to make of this padlock other than clearly someone thought it was worth a good deal of money. That is interesting as part of me thought that this might have been some sort of fantasy padlock out of India. At least a very good quality one. The selling price tells me that this was a genuine article.
This padlock had a high bid of 819.99 British Pounds/$1,299 (Plus Shipping).Very unusual,antique,brass and iron padlock.Probably 1800s.Very heavy,866 gms.13 cms long x 7.4 wide x 3 cms thick.Unusual mechanism.The inner iron lock,springs about a centimeter,out of the brass case,when unlocked.See pictures 7 and 8.To lock, the sprung iron inner, has to be clicked back into the brass case.Good overall condition.However there is a knack to operate.To unlock,the best way ,is one hand to use the key,the other to push the brass case away,at the same time pull the iron inner towards ,then turn the key ,sometimes several attempts may be needed.There is a trade mark,a key with an entwined s.Stamped lettering below that is indistinct. - eBay (15 April 2012)