I picked up an old Mitutoyo magnetic indicator stand on ebay for a great price.? Has a bit of very light corrosion that I think I can address pretty easily and even if I can't, it's still very functional as is.

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The one big issue was it wouldn't turn off completely.? I have it partially apart. I think that issue was the limit screw needed adjustment.? Aligning the magnet manually makes it work perfectly fine.? So far so good.

The last issue is the inside is full of heavy, sticky old grease.? i have the knob removed and the insides are gunked up - I think someone squirted a bunch through the hole on top where the rod attaches, probably decades ago.? I'm at the point where I was going to pull the magnet out so I can clean it off, clean the bore and lightly lube it before putting it back together.

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But when digging around trying to figure out how to get it apart, I found a lot of threads on machinist forums suggesting that pulling the magnet out would demagnetize it.? Right now, it works pretty well when it's "on" other than the issues above, so I don't want to kill it.

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I"ve had newer indicator stands apart and pulled the magnets out with no issue, but magnets have come a long way.? This is one of those older indicators where the knob is held in with a pressed ring, rather than the square plate with two screws under the label.? I'm guessing early 70s but maybe older.?

The threads I read never really said if they just pulled the magnet out for a few minutes and then it was dead, or they left it out for a few days sitting on a metal table or something.

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You guys ever heard of or experienced this?? I could clean it all out with solvent with the magnet still in there, but then I risk getting solvent all over the paint (it does soften slightly when wiped with acetone) and I probably won't get all the old grease out that way.