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There are two basic kinds of collectors,
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This is were I have to disagree. If only there were
two kinds of collectors, answering the question of whether to refinish or not would be easy. There is a range of collectors with a range of tastes and a range of discretionary money.
Owning a pristine, original 1911 made in 1912 will likely be an impossibility for me. But, I
might be able to afford one that has been expertly refinished. And, I would be quite happy with it. In fact, I would rather have one that is expertly refinished, matching and original parts (as the one I referenced above) over a 70% condition or less of the same gun that hasn't had its finished touched.
Yet, I had to pass on the Chromed Borchardt C-93 that I might have been able to afford - who knows if it could have been refinished correctly, but I couldn't stand looking at it.
I would also rather have a Colt-refinished '57 Python than that same Python that has lots of finish wear. Yes, it would be worth at least $350 more for me to have the nicely refinished one.
I'm just not as averse to expertly refinished guns as others may be. I see value in them, and I might consider paying more for such an gun than for the same thing which shows all 100 years of wear and tear.
Then there are some guns I don't want to see refinished, like an old 1st Gen Colt SAA 45. I don't know why, but I like to see some honest wear on these guns. Maybe its because its too easy to find one just like it being made new by several manufacturers.