I would want to clean, inspect, document all parts, oil and reassemble. You have to get in the 'curator' mindset with these pistols, because they are only going to increase in value. You have to be thinking of what condition it will be in a century from now. If it hasn't been touched in forty years I would suspect corrosion in hidden places. It can easily be taken down and cleaned without harming the finish or anything else. Wood grips dry and crack over time without proper treatment. If you don't feel comfortable working on it I would suggest a gunsmith or advanced collector with experience with Lugers.
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