AWM stands for Artillerie- Werkstätten- München" (Artillery Workshop Munich). They would be appropriate for WWI Bavarian lugers. Many times they are regimental marked with Bavarian units.
I would not call them rare, but they are relatively scarace compared to some others. You will see them come up for sale every once in a while.
They are nice holsters and made well. In my opinion, they command a higher price than other similar conditioned WWI holsters. One in good condition will fetch $300+.
Does your AWM have any stamps or marks?
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