Quote:
Originally Posted by
tristanhilton85 
Imagine how much in the hole those friends would be if they weren't getting top dollar for the old clubs they sell/trade-in.
I keep telling them if they would quit "buying" a brand new vehicle ever couple years, they wouldn't be broke!
I wouldn't consider my golf clubs an investment, rather a liability. Investments make me money, liabilities cost money. That is, unless someone is getting MORE out of their clubs than they paid (Scotty collectors, buying old Eye 2 sets for dirt then reselling them, etc.).
Certainly take care of them, they will last longer! I'll move my ball if it comes to rest on a gravel cart path just so I don't jack up my wedge, I'm not playing for $1.2 million, just for fun! Hell, I even clean my set after every round! The better I take care of them, the longer they will last, the more I get my money's worth out of them. And I agree.... no iron headcovers! 
To the OP - I like buying old sets at garage sales, Craigslist,, etc. and making a project out of them with my son. We clean and repair the heads to what extent we can, do new paint fills, adjust loft and lie if needed, regrip, etc. Our original plan was to resell them, but we decided that we are going to fix up all the sets we can find and donate them to the First Tee. It's a fun hobby, and I am now doing a lot of this kind of stuff for friends.
Scotchbrite pads, gun oil, Autosol or Flitz, buffing wheel or a Dremel with small buffing pads, small files and polishing stones... there is not a lot of stuff needed to get started doing it. Do a Google search for stainless steel auto trim repair and you should come up with a lot of info.