Metallic paint
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Metallic paint, also called polychromatic or "metal flake" paint, is used on the majority of new automobiles sold. Metallic paint can reveal the contours of bodywork more than non-metallic, or "solid" paint, and appears brighter in dull conditions. Close-up, the small metal flakes included in the paint create a sparkling effect.
[edit] Overview
Metallics nearly always consist of a base coat with a clear lacquer top coat for protection and extra gloss. Historically, because it is critical which angle the flakes in the paint lie, it was difficult to achieve an invisible repair if the paint was damaged, but modern techniques have more or less eliminated this problem.
Manufacturers almost always charge a premium for the "option" of metallic paint on a new vehicle, although metallics usually account for all but one or two of the colours from the palette available (only red and white are available as solid colours from many makers). The price premium is around GBP £500 or USD $1000 for a large car, although most buyers feel they have no choice but to pay it in order to maintain resale value. However, to have a car subsequently resprayed in a metallic colour is no more expensive than for a solid colour, so cynics may consider that the price premium for metallic paint is a way to boost the base price of a new vehicle.
Two rarer variations are pearlescent paint, which appears as subtly different colours depending on the angle and intensity of the light and "flip" colours where the colour changes more radically (e.g. from purple to orange) depending on the viewing angle. Flip colours have been used by Nissan on some special editions, and are frequently associated with TVR cars.
A final variation, hardly ever used on automobiles but common on bicycles and motorcycles, is "flamboyant" or "candy apple" paint. This consists of a metallic silver base coat covered with a transparent coloured lacquer. Flamboyant paint gives an unusual effect of depth, but is almost impossible to touch up after damage without leaving an obvious mark.