I agree that the walnut veneer on the Fives is exceptionally nice. My concern would be that someone used the paint to hide damage. You might end up going to all the work to strip them and find damaged areas repaired with wood filler. Hiding these kinds of repairs is difficult, as the filler does not take stain in the same way as the walnut, and the lack of grain makes them really stand out.
However, I guess there are people who just prefer a black cabinet, so perhaps they were painted for cosmetic preference only. I do have a spare set of KLH Five cabinets, but they have some damage from moisture at the bottom. I'm fairly handy with woodworking and related repairs, and could - with a lot of time - make the damage just about un-noticeable, but never had a reason to do so. I bought two sets of Fives from one seller, all needing some amount of repair, and used the two best cabinets for the pair we now have in the den.
I have, or have had, or restored for others, a lot of speakers over the years. The Fives are among the most attractive...and the veneer is thick enough to sand without too much risk (assuming you go about it carefully). The only vintage speakers with more attractive veneer than the Fives that I've seen are the pair of AR6s in my daughter's bedroom.
If you were closer to Phoenix, I might want to discuss getting those cabinets from you. I'm not sure I'm up to attempting to strip mine and try to sand and refinish. And paying someone to do it pushes the price well into the area of what I would have paid for a nice pair already.
I may look up the "how to" and take a shot. I would need to get paint stripper, sandpaper and other materials.
I do realize, however, had the cabinets been in good original shape, I would have paid far more than $130 for these so there's that...

The bass will improve DRAMATICALLY, once the surrounds are resealed. Trust me on this. This will add to the "warmth" you seek. A recap will also help smooth out the highs. KLH and many others used cheap caps, and by now 40+ years later are most likely out of spec.Ok, early impressions on the KLH Model 5.
First, I’m really impressed. Incredible detail and beautiful highs with no harshness.
At first, I felt bass was a little lacking when comparing them to my Klipsch KG 4 but after awhile I realized the Klipsch are very boomy and full (and, yes I pulled them way away from the wall). The Klipsch don’t sound bad to me it’s just the KLH, to use an overused term, “sing”. They feel more BALANCED I think is a better way to put it.
Sensitivity is great. Running a 44 WPC Onkyo with a tube preamp and no problem getting some serious volume out of these. Playing “Cecilia” by Simon and Garfunkel and it sounds “alive”.
As others have reported they are a TAD middy but nothing that’s bothersome.
I’m going to let them settle in and think about whether to keep the Klipsch. It’s a shame because they are beautiful speakers but have a very different personality.
So, aside from the terrible paint job (which isn’t actually that noticeable tucked in the corners) I think $130 was a steal.
One other note, they do not exhibit the same warmth as my dearly departed Imperial 6 but I’m beginning to suspect that the Marantz “warmth” was due, in part, to 40 year old caps.
So, now to experiment with different music.
Wait...do I need a new cartridge??
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The bass will improve DRAMATICALLY, once the surrounds are resealed. Trust me on this. This will add to the "warmth" you seek. A recap will also help smooth out the highs. KLH and many others used cheap caps, and by now 40+ years later are most likely out of spec.
For now, enjoy them, but get the surrounds sealed as a priority. A quick test to see if the woofers have a proper seal is to gently push in the cone and let it go. If it returns to neutral position slowly, 1-2 seconds, then you have a good seal. If they bounce back immediately, they need a reseal. Also watch the mids when you push in the cone, do they move? If they do, then you need to check that cork plug and see what's up with the mid chambers.
How are the grills, and are the badges present?
Cheers, Glenn
Thanks much! I'm pretty happy. Think, at the very least, I need to take GD70s advice and reseal the surrounds.I think you did fantastic. Great price, great speaker. They are on my want list. Have been. You did real good.
Great, thanks for the info. I’m a little tentative about the resealing but everyone seems to agree that it should be done. I’m looking forward to improved bass by doing it.If you do decide to strip them, bear in mind that the thin wood band trim between the baffle and the beveled edges is normally black. You might want to tape it off or plan to paint it in case some stripper gets on it. Painting it will be a bit difficult. I've touched up small scratches on mine with a Sharpie.
Also, don't go overboard with the sealant. As you apply, you are also re-liquifying the old sealant and redistributing it.
The KLH Five is a great speaker, and you did well! Enjoy them.