The Proxxon Micromot 60/E minitool uses a collet chuck. Whilst this is more accurate, it is less convenient than the 0.1-3.2mm 3-jaw chuck fitted to the (very similar) Micromot 60/EF tool. This model is a replacement for the aluminium collar on the 60/E to permit the fitting of the 60/EF chuck (Proxxon part no 28-941.
The author marked this model as their own original creation.