I picked up this very sad and bedraggled Teton Drawstring for $3, specifically to practice rehab, since the main leather should be treated differently than the very forgiving vintage
Coach leather I've worked on before.
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So far I have given it a very brief full dunk in cold water, and done some selective conditioning, and I think it is already looking heaps better.
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I dunked to reshape rather than steamed, as I have seen suggested here, because steam also opens pores, while cold water tends to shock pores closed, so I decided to go that route. It really worked rather well.
Even though the trim on the Tetons appears to be AWL, I decided to risk disrupting the pores on the straps, tassel, and green piping, because it was so very dry. The straps were the worst. I had to dunk, extreme condition the bits that contacted the hardware, and then press flat to dry. I decided I would rather sacrifice the weatherproofing on those limited bits, if it meant protecting the leather from splitting or cracking.
After comparing the feel of the main body leather to my good-condition AWL bags, I have determined it does not need any conditioning. It isn't as supple as Coach leather, but I don't think it ever was or will be. I was worried I might have to do a full condition in the end, which is not recommended, but I wouldn't mind for a bag for ME, if it really needed it, but I don't think it's going to be necessary.
I am ordering a set of Angelus leather paints to customize a vintage Coach bag, so I will have that to do some color correcting on the green piping and trim, and I need to get some edgekote for the dark brown straps.
Does anyone have any suggestions for smoothing out the little sawtooth points on the trim and top of the tassels? The tassels themselves smoothed out really nicely with some massaged Leather CPR, but I tried to do something similar on the green trim and the tops of the tassels, to very limited success. I'm wondering if I'm going to have to work in sections, put something flat inside the bag, like a book or something, slip a foil under the trim, condition or wet it, then set a weight on. That still won't help with the limited sawtooth bit about the top of the tassel, but would at least get the green trim under control.