Chris S. Offline Upload & Sell: Off
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Bikemore, some years ago, I was faced with a similar quandary with my Nikkor 20mm f/2.8 AF-D. Oil on the aperture blades--to fix or not to fix?
I'd discovered the issue when getting ready to sell my specimen of this lens. It had been much loved in the film days, but this was the time when film was dead, but Nikon hadn't yet introduced FX, and the 30mm equivalent on DX was not appealing to me. Given the hard hikes and mountain climbs I'd carried this lens on, and a general respect for good glass, I couldn't bring myself to junk it. And I wasn't willing to sell it with an oil issue/stuck iris, even with full disclosure. So I had it fixed. The repair turned out to cost not all that much, and the lens worked wonderfully after the repair. Then I sold it, in excellent condition, with full disclosure and a clear conscience. I hope and trust that the purchaser was happy and has done fine work with this optic.
Today I use the 14-24mm Nikkor, and love it. Far better performance wide open than the 20mm prime (for example, greatly decreased CA). It's too heavy for carrying up mountains, but now, smaller sensor cameras accompany me when the going gets tough--and they produce better images than my old 35mm film cameras did, for far less weight and bulk.
If I had a Nikon DF, I might be tempted to throw one of the old 20mm primes on it, take it climbing, and shoot at the middle apertures--but for the coming climbing season, I see a much smaller, lighter, Panasonic Lumix GM-1 clamped to my pack straps.
But I digress. Your old 20mm AI-S lens deserves respect, and getting an oil spot fixed falls within reasonable maintenance for valued tools. In your shoes, I'd get it fixed. Stopped down, as you describe, it's a decent lens, especially for its weight and size. And if you decide to sell it, you'll be passing on a properly-maintained lens.
Cheers,
--Chris
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