Ceremonial axe for identification

[Valjhun]

I've got this one at a militaria show yesterday. It apears to be a ceremonial piece of some kind. Small axehead and long shaft, suggests a shepherd axe origin, but I'm not sure. It is engraved Kollmann 1911 and adorned with brass acorns. The shaft is a steel rod covered with horn(?) rings. Is this an eastern european valaska/fokos or perhaps an austrian/german forestry/hunting ceremonial axe of some kind?

The seller suggested Hungarian origin, ceremonial axe for Honved officer, but I doubt it, sice I cannot find any reference in my books/online.