Sorry for the bad photograph:
It's a detail shot of a Dutch navy troop carrying a Dutch navy luger (the P08 type) in the P08-style navy holster, the braided lanyard is clearly visible. Judging from the wear and shape of my lanyards, as well as from the photos I've seen, the lanyards were carried around the epaulette on the opposite shoulder, rather than around the neck as the auction photo shows.
Jerry: A valid point: Lanyards can and will be used for a number of tasks, and I would be the last one to call it a luger lanyard, but it appears to have been in use as a pistol lanyard mostly. Near water lanyards make sense.
This is one of mine:
