This watch is refinished. The vast majority of black dials from this period are redials. You've done the right thing in asking before you buy. Refinishing a dial generally doesn't affect the "integrity" of the dial itself, it is merely the process of stripping an original dial down, repainting and reapplying indices, etc. It drastically reduces value and desirability to a collector. However, if you like the look of the watch and don't overpay, go for it. Just be aware that resale value will be much reduced. I wouldn't pay more than a couple hundred dollars for that example. Keep an eye out in the private watch sales section here, many excellent examples come up for sale.
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