I got this pipe on Ebay for about $13 total and it was a mess. Someone had spilled a dab of epoxy glue on it and it had patches where the finish had worn thin and were of a different shade.
Unfortunately I didn't think to take a before picture of it. Soaked the stem in a solution of about 14 oz. of water and 1 scoop of oxyclean for about two or three hours. Put vaseline on the anchor emblem on the stem. Tried to conserve the anchor with my sanding from 800 to 1500, then polish and stem oil.
I started sanding the bowl with 800, 1200, 1500 grit sandpaper. Then went with Micro-Mesh pads all the way up to 12000. Pipe has not been waxed, just polished with the pads.