I have seen another of these weights on eBay, last year (?), also described as having a "PY" signature cane.
I say it's Chinese. As far as I can make out, the so-called signature cane consists of a cluster of rods which bear some similarity to letters in the way the rods are bundled - and one part could be taken as a "Y". But they are rod clusters, not a signature cane in the style that Pul Ysart used.
I emailed the seller and pointed them to my web page showing genuine PY signature canes. They have added comments to the listing that several people stated it is not a Paul Ysart weight and this is also balanced with comments from others saying they think it is genuine. One person also sates "... people who said this was chinese dont know what they are talking about ..". OK, everyone is entitled to their opinion.
Let's see what it sells for.
Ysart bottle at Sworders? Nope, didn't see that. Is there an online image still available?