Each gun must be assessed on its own. A hard and fast rule can't be applied across the board to all Parkers. Common, low grade guns with no special features and no documented provenance to a shooter of note, that are in poor cosmetic condition, can only be improved by refinishing or a complete restoration. That is the owner's choice. But don't expect to recover your expenses at the time of sale - you'll break even at best.
On the other hand, a rare, scarce, specially optioned, or unique Parker requires a lot more consideration. What do you intend to accomplish by refinishing such a gun? Refinishing or a full restoration of such guns might just damage the intrinsic value of such a gun that has a patina that bespeaks the loving use and care of the gun by the original owner.... why would anyone want to eradicate that on such a gun?
Some such guns however, can benefit from the expert's hand in enhancing the appearance of a worn-out or abused (by subsequent owners) gun that otherwise, might be placed on the "project gun" pile. These "experts" are infinitely few (I'll keep my opinions to myself on who) and just who you send your gun to will require a great deal of homework and examination of their work with a very keen eye.
"To each his own." and I firmly believe in this but remember, original, unmessed-with Parkers are becoming fewer and fewer and many of them need to remain in original condition.
I had this one "freshened up" a bit by someone I and many others consider to be an expert. He refinished the wood and nicely recheckered it, and cleaned the rest of it but didn't refinish the barrels or the other metal parts. It doesn't look newly refinished and I didn't want it to. I wanted most of the original owner's evidence of use and care to still be evident.... to me it makes the gun still more "Admiral Thomas Perry's" than mine... I'm just the intermediary custodian of the gun for now.
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