Did you buy this brand new? The reason I ask is that EVERY BK2 I've worked on has a carbon fiber pad on top of the 'ferrule' and If the pad is removed, you will see an exposed carbon tube end and the exposed ferrule edge....I have NOT seen one that has a Capped ferrule. The wood shaft BK's have an embedded Carbon fiber tube about 7 or so " deep. The Carbon fiber pad is an essential part to the front of the cue to not explode when breaking....you have a capped ferrule, that is NOT original. The picture I've attached is from a bk2 that someone changed the whole assembly to a polycarbonate ferrule/tip combo, please note the carbon fiber tube that is exposed. The next picture is what it should look like when it properly installed with the actual Ferrule material that Predator used on those. I have done dozens of BK repairs unfortunately I don't have a picture of what it looks like with the tip removed and the carbon fiber pad but hopefully you get what I'm talking about. The first picture you posted actually shows a crack in it runs around the top of the ferrule.....that cannot happen on the original material.....