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Ouch!!! US$ 1,200???? Not even here, where 50's sets are difficult to find, someone will find a collector willing to pay THAT much for a 50's TV... I, myself, have been able to buy some very nice console 50's TVs for values much lower than this.
As for that sad paint job done on that TV... I've seen things much worse. Some idiot who thinks of himself as being a designer or something like this, took a very nice and beautiful 1930's console radio and covered it completely with graffitti signs... looks like he did it for the radio to be used as a prop in a play stage... that was one of the most stupidy, ridiculous and disgusting things I have ever seen done to an antique electronic equipment... I think only fishtanking a vintage TV is worse than that. Fortunately, that radio ended in the hands of a very devoted radio collector, and that collector was able to clean off the graffitti job and bring the radio back to it's original glory.
I have been faced with a 1950 GE roundie that had been itself painted white. My mother was able to undo that painting job and re-veneer the TV cabinet. It looks quite good now.
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