'Paintless wonder' is the name given to a number of vintage Heuers where the paint has eroded and disappeared over time. It happens on a number of Monacos and Carreras mainly. It's quite an enigma but ALL the paint somehow disintegrates and leaves behind what you see.
Bear in mind Jeff's originally looked like something this ....
before nature took it's toll. It has been speculated it is due to a fault in the paint batch but I don't think that has ever been clarified. Some of the examples are pretty amazing, I'll see if I can dig some up when I get chance.
It also looks like Jeff himself coined the phrase back in 2007.
S
ps and this is apparently the look TH were going for with the '70s Monaco!