It is possible to bring it back to new by re anodising it using a photo of original to create a stencil. The original bezel would probably need to be skimmed (remove a couple of thou from face), a protective layer deposited with a cliche and then bezel is anodised. Removing the protective layer would reveal characters. I a surprised that such a service has not taken off as there would be a big demand.

It is old technology and no longer rocket science and I have seen it it done. Nothing wrong with restoring it if is done conscientiously and it is not too expensive (it will not cost you £1000 quid and that is for sure).

Search the Internet for art and anodising service.

: No Mike, I wasn't joking.

: I was referring to retouching the areas where the black has worn
: away.
: Normally, I would not even consider this, but the insert on this
: particular watch has a laminated effect.. the entire insert has
: a 'bumpy' 3D texture to it.
: I've noted that some bezels wear to a very smooth shiny finish, but
: occasionally we see this 'bumpy' matt texture to some inserts.
: I'm not sure why this happens, maybe inserts were made with
: different processes?

: Anyway, if carefully retouched, it would not be noticeable - if
: done correctly, the restoration could be near on invisible.

: Stewart
: Heuerville