I have had my 2000 P38 BMW diesel for over eleven years. It has been a great car and paintwork, with reasonable care, has always been excellent. However recently patches of the lacquer coating has flaked off. The exposed paintwork rapidly goes dull. It can be brought back to some extent with polish but, other than a complete rub down and respray of the offending panels, can anyone suggest a nice simple solution. I have seen youtube videos where they use a very fine wet and dry and cut back the flaking edges of the lacquer, without cutting back the paint and repray offending patches with fresh lacquer. Seems a difficult thing to achieve to me, but has anyone ever tried it?
Any advice would be appreciated chaps. Thanks in advance

Give it a try, you've nothing to lose. I would rub all the old laquer off and respray.