Contributed by B@rt.
To create a convincing material, try the following:
1) First, add an environment map. I often use a 'clouds' __procedural__ texture, but you can also take a picture that matches the environment of your metallic object.
2) Give the material a specular color that is different from its diffuse color. You can change the specular color by clicking on the 'Spec' button below the second material sampler in the __Material Buttons Window__. Try for example a gray material with a blueish specular color.
Contributed by Michael Velikanje.
Explaining paint textualy is somewhat hard. There is a tutorial at: https://www.michaelv.f2s.com/tutorials.html that explains the basics.