I could be way wrong here, but pretty sure that this machine was manufactured shortly after 1922 when Howard Carter discovered King Tut's tomb. There was a HUGE craze for anything and everything with the Egyptian artwork and Singer jumped on the bandwagon. I also believe that this artwork makes the machine more rare/valuable.
Do some research and also question Billy, here on this board. The man is an amazing resource of knowledge. You will find him on the vintage section.