Great Find!?

Found at the Goodwill for $5.  It had an antique shop tag on it for $65, said it was a yarn/wool winder.  I looked on Ebay, didn't find one similar to this.  Anyone know anything about these? Maybe Chris could use one if she is still hooking rugs?

It has nice paint, hand-painted flower design on each side.  Not as primitive as others on Ebay, but maybe Victorian?

Would also like to know how it works, never have seen someone use one.  Sure won't be me!  I'm a mover and sitting and knitting would drive me crazy!