To finish again; especially, to apply a fresh finish, as a new coat of varnish or paint. (verb)
Examples of word refinish
I'm also thinking that any kind of refinish would lower the value of the instrument.
The average Joe might be using his garage to restore an automobile or perhaps refinish some antique furniture, but if you're a Conan fan extraordinaire like Samuel Encinas Garcia, the Conan the Barbarian movie has inspired you to build your very own Wheel of Pain!
Buy it ... rust is good camo ... you can refinish the barrel if you have to as long as the rest is OK.
If it still shucks good, then refinish the barrel, or buy a new/used one.
I might completely refinish it and give it to some kid who needs a deer rifle.