It doesn't matter how old the item is, excellent condition is excellent condition, regardless of the age or anything else. There is some interpretation what 'excellent'means and a small scratch is one thing, any pitting at all would absolutely rule out excelllent in my opinion.
I bought a bikethat had to have the shifters, brake levers, housings, and seat post replaced. We went back and forth and the seller said such things are to be expected. I then quoted his listing:
"HERE'S AN OUTSTANDING KLINE ATTITUDE...IN EXCELLENT CONDITION...THIS HAS TO BE ONE OF THE FINEST VINTAGE KLINE'S IN THE COUNTRY..."
I said that that the bike is used but he chose to use these terms and one the finest Kleins in the country shouldn't come with a cracked seatpost and eventually got what a fair deal in terms of a refund. So if the seller says something, the item should be what they describe.
Without detailed pictures it's hard to say, but if you feel the ad was deceptive, ask for a partial refund and spiff it up like others have said. I've had 3-4 times where I've asked for a partial refund and once where I insisted upon a return and so far I've gotten satisfaction. If you never ask, you'll never get anything.
'Guin