Morning Tony, the market for them is quite amazing to observe as you say. I only "got in to" this telephone thing a few weeks back but was so pleased with the results of the 332L refurb I decided to do another. Deciding what to buy next was difficult as you have to be careful you are not throwing money away on something that is beyond sensible economic repair, or worse still an Indian "replica"
It is funny though, as people who've visited us during the festive break have all said "get me one" when they've heard it ring
Cleaning? Yes I've bought Greygate too, Greygate No.5 compound designed for the GPO. It is supposed to be the best thing for bakelite I was told and it is good. However I've got various compounds I use on the cars which are also very good. Bakelite is surprisingly forgiving which surprised me, you really can go to town on it with brute force to remove marks and scratches and it will come up great, I'd bet plastic is a bit more awkward to rejuvenate.
As for colours, the none black bakelites do fetch a massive premium, however I reckon once an Ivory phone is marked it is very difficult to get it back in shape, not a problem with the black ones. That is why my hunt for a sensibly priced good condition Ivory model has stalled. Damage to the body is not something I'm interested in, not too fussed about inside condition.
I'll bet your trim phone sounds better to people on the other end of the line than your bakelite. I've been experimenting with various carbon granular mics. but none sound as good as the electronic you can fit. I've stayed with carbon though for originality, as these phones were never as clear as a modern handset.
I need to now pick up some induction coils for this old 162, well rather a transformer for the phone and induction coil for the bell, it will be a gem when working. Still carries its 1935 date stamps too.
As an aside, have you seen some of the green phones at £2000 haha, I wonder if any really sell at that figure?
Enjoy the hobby Tony, I'll certainly be playing around with these telephones whilst the dark nights are here, I just love their history!
All the best too for 2018.
PS, as an aside did you buy your bakelite from a chap called "Mally"?