The Duncan FreeHand was the first of the FreeHand line. At the time, these were simply called"FreeHands", but with the release of the FreeHand 2 and FreeHand Zero, the original version is now often called the FreeHand 1 or Original FreeHand.
All Original FreeHands are getting difficult to find, but transitions are very rare. A transition is created only when molding is changed from one color, to another. A small batch of these were sold online at the Duncan Store. This blue/red transition is very dark, almost black. But you can see the blueish purple tint in the picture.
Like most collectibles, yo-yos are worth more and are more desireable to collectors if they are still sealed in the original packages. That is why this one is pictured though the package bubble.