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That's a really common problem for Heddons- so common, in fact, that the saying goes that there are two kinds of Heddon bamboo rods; re-finished ones, and ones that need re-finishing; i.e., most all of the original condition rods. Although there are exceptions- mostly likely due to being well-stored in a low humidity, temperate climate.

Heddon used spray-on varnish to finish out their bamboo rods. I'm just guessing, but I think that probably resulted in especially thick coats of varnish- and possibly even some absorption of varnish by the cane. Because when varnish gets into that condition on a Heddon, it really gets sludgy.

Fortunately, there's often something that can be done to correct the situation- not so much as to restore it to showroom condition, but enough to improve the condition markedly, to the point where it looks pretty good- almost normal, unless the rod is closely inspected. I've done it with several Heddons- in fact, I'm working on one right now, and will post the results. I've already gotten a little ways into it, but I can take before and after photos, including some parts of my rod that presently still resemble yours- thick, rippled, sludgy varnish.

In fact, the rod I'm working on is in worse condition than yours. I think yours could clean up fairly well.

How is it done?

I put my answer in the post below.

To your original question- I'd say it depends on where you bought the rod. If it was purchased from someone in the business, like a rod dealer or someone on the board, and the issue was not disclosed in the ad, I think you have a good case for returning the rod for a full refund, if that's what you want to do- or at least working out a partial refund. Everyone reputable that I know of has an explicit return policy- including any seller putting an ad in the Classifieds who intends to keep in the good graces of the regulars on the board. Those are Forum rules- you don't want it, you get your money back.

But eBay is different. Not everyone has a return policy. And it's difficult enough to get the mass of ordinary folk to realize that every bamboo rod is not automatically worth $1000, or that cane rods with uneven sections are almost certainly not in "mint condition"- much less expecting them to understand details like finish issues. I was a fly fisherman for years- but I myself didn't know that almost all bamboo rods are made in equal section lengths, until I started educating myself about this game around three years ago. So when I go looking around on eBay for rods, I remember how ignorant I was before I got deep into this hobby.

That goes for everything else in collectibles. That's eBay. It's a risky marketplace- and when it comes to specialties- hobbyist items, sporting goods, vintage electronics, collectibles, you name it- for every person who's out to intentionally defraud you, there are 50 people who just don't know any better. And overall, I think that adds up to more of an advantage for a knowledgeable buyer than for an ignorant seller.

(Example: I know nothing about 35mm cameras. I picked up a Pentax K1000 SE the other day at an estate sale, for not very much money. It looks like it's in very clean shape to me- but I don't know about the details of the functions, or how to test them without having a repairman go over the camera, or by going to the further expense of buying film, snapping pictures, getting them developed and seeing how they turn out- and even that wouldn't answer every question. It doesn't have a scratch on it, but I can't guarantee that it works as good as it looks. So it's up on eBay for about the price of a parts unit, with a 7 day return- thank you, serial #- and I still have no bidders. It may not even get one bid. Whereas if I knew cameras and could be certain it was in good shape, I'd almost certainly sell it the first time around, probably at double or triple the opening price I've asked.)

The best policy is to ask every question, and send your email to them and ask for closeup photos of what you need to see to find out what's up. And if you don't get the answers or the pics, then you can make up your mind about how much you want to risk. If anything.

Personally, if I paid $300 for that rod on eBay, I'd feel as if I had overpaid by around $100. But I'd also look on the bright side- at owning a basically sound and fishable rod with hardware intact (except for that one issue with the guide) and two full length tips, that I could manage to put into pretty decent condition with an investment of around $15 for materials and an afternoon of shining it into shape. So I'd just keep the rod and drive on. If it were me.

I might possibly make an exception in the case of an eBay seller who represents themselves as specializing in collectible fishing rods. It's conceivable that I could bring up the finish condition issue to them, and try to work out a partial refund. But the thing about escalating to a payment dispute is that the buyer has to return the goods in order to get a full refund. And in a case like this, if overall I liked the rod, I might not think it would be worth it to go through the hassles, and end up having to return it after all of the disputing. It helps that I've found out that finish issues are to a large extent fixable, with a bit of time and effort.

It would be different if I thought I had overpaid by $200 or $300, instead of $100. But you have to ask yourself- when's the next time you're going to find a 8 1/2' model #20 Heddon like that one, full length 3/2 with no issue beyond needing a guide rewrap, for $100? For $200?

Something like a short tip is different. I brought a case against somebody who turned out to be blatantly dishonest- I had returned the rod, could prove it, and the seller failed to give the refund he had promised in the record of emails he sent me- and I won the case.

But by now, I'm sure you're wondering how believable my claim is, that I can take the same sort of nasty, ugly varnish problem your Heddon has, and return it to some semblance of a normal-appearing classic cane fly rod. Well, it just so happens, I have some spare time tonight...