That rear fender does not look that bad, and with stainless steel. some scratches can be buffed out. How good are you with a wood ball and a mallet to pop dents out? That is one thing I taught myself how to do with my stainless steel bike fenders was massaging dents out very carefully using just that method alone. Then again if you are a stickler for perfection, you can find someone with an English Wheel who could roll your fenders out like Jeff Hensley (Pedalsnostalgia), who is an absolute artist with restoring these bikes to perfection.