Using a 14mm spanner undo the locking nut under the gearknob. The knob it self will now unscrew. Find a bolt that fits the gearknob and remove the head from it.
Now screw the locking nut onto the bolt and the gearknob, tighten the nut to make everything tight. Now insert the other end of the bolt into your drill.
Starting with some 400-grit wet and dry, sand the gearknob with the drill on high speed. Move the paper all the way to the top and then all the way to the bottom. This will help ensure you get an even finish.
After all the lacquer is removed move onto 600-grit wet and dry and do the same procedure again. Do likewise with 800- and 1000-grit wet and dry paper.
Once done use some wire wool and some metal polish (Autosol is good for this) on the gearknob. Keep doing this until it's nice and shiny. Now simply buff up with a soft cloth.
You may find the numbers on top have gone all black. This is easily fixed - using some warm, soapy water and an old toothbrush will bring this up good as new!
The image below shows the sort of result you can expect.
Here is another shot of the finished gearknob.
