Here we have a Bulgarian-made Orfeus 12-string semi, which from the looks of it, I'd guess dated back to the 60s, perhaps early 70s. According to Cheesy Guitars, "this guitar is made front and back out of carved solid wood=archtop" but "strangely the rest of the guitar isn't that high quality: bad tuners; painted fingerboard with 20 frets(and zero fret); fixed (although four) factory (with Orfeus logo on them) designed pu's and DIN-output."
The headstock is obviously Fender-inspired so possibly the whole guitar was based on the Fender Coronado XII. I wonder why the four pickups are staggered like that? Possibly it was too much trouble to line them up accurately.
This particular model is said to be in "playable condition", but "needs some repair".
An interesting one for the collector, but I wouldn't fork out big bucks for it.
G L Wilson