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Wal Bass Club.

Check this out, y’all: here in Japan where I live: Wal/Mach1/中古/¥885000/状態:B+

If this isn’t a paint over, maybe not a bad price: 8,500 for an 87 Mk 1 with color?

In the few painted finish Wal for-sale listings I can find that has the back plate open, they mentioned the finish there. That listing doesn't mention it, so I'm guessing the paint came later. Given the age of the bass (and a personal worry it wasn't maintained the way a Wal should be given the paint job) I'd want to try it and hear it before risking 8500, which would go most of the way toward a more recent Mk1 when it comes up.
 
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It would be easy restoring the correct shielding paint.

I'd leave the finish, it looks cool enough and the bass wouldn't kill you if you scratched that finish like a new one would.

Agreed. Don't think I'm not tempted to buy it now that I'm firmly entrenched in my "refins with character" mode. I wouldn't change a thing except to put the shielding paint back.
 
Now its listed on eBay with a much higher price:

Wal Mach1 Bass guitar | eBay
This is because it’s not the shop selling it that posted this: it’s an idiot who plans to buy it once someone pulls the trigger and bail if someone else buys it and he/she can’t fulfill the deal.
 
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