Cutter ID help

[AGCB97]

I received this cutter with a LOT of tools from EBAY. I think it is a counterbore cutter but don't understand the outside ring (unless it is just a depth stop). The cutter part is 1 5/8" D. Shank is 1/2" w/ 3 flats. Pilot is removable, I assume to change sizes. Looks like an expensive tool and it's new.
Tell me if you recognize it and what it might be worth.
Thanks
Aaron

 

[Cadillac]

Picture would help?

 

[AGCB97]

Ahh! forgot to include that.

 

[Cadillac]

Piloted couterbore with a depth stop would be my guess.

 

[benmychree]

and mine as well---- With the hex shank, I'd guess would be that it was intended to be used by hand for some special task.

 

[Illinoyance]

Mine too.

 

[MrWhoopee]

spot-facing tool.

 

[mmcmdl]

Yep , spot-facing tool mostly used on castings .