There was at one time a fairly brisk industry of making decorative household goods out teak and other hard woods reclaimed from ships being broken. I’ve seen anchor shaped pipe racks, humidors, and rests like this one. Mine is a pipe rest made from the teak decking of the 1st RMS Mauretania. A Double Blue Riband ocean liner laid down in 1904 and operated by Cunard White Star lines until 1934. She was the fastest ship crossing the Atlantic for nearly 20years and the largest ship until the Olympic was built in 1910. I’ve seen a few pipe racks made from Timbers of HMS Victory, I’d really like to get my hands on one of those, but they generally sell for a lot of money.