Your right on target, the early Brunswick Personal Cues were made by Schmelke and the Blanks were a Titlist look alike that Schmelke made, Schmelke made them in late 1968 through Mid-1969. When Schmelke stop producing them all others were made in Asia, but I will say that the Schmelke Models were all in all decent quality.
It is impossible to tell who made the cue pictured in the auction, but either way they are not collectible, and they certainly were not made by Brunswick, in fact they were not even a True Titlist cue.
So I have to agree with you completely the auction statement was either written to deceive or it was written by some one who has no clue what they are talking about!!!
That was just a brunswick cue of no great value. It looks like the joint and maybe the butt cap has been changed. You can see where the joint has been sanded. The seller is trying to capitalize on the Titlist craze with a few modifications to what was a cheap cue. Anyone who buys that thinking they have a collectable will be getting stuck.