I went to look at a LS430 at Lexus Milton Keynes - think it was a 2000/1 - it was one of the newer shapes but very early model - didn't have standard fit parking sensors, only aftermarket add-ons. Anyway it wasn't a bad car for the price and I was near to saying yes when I stood back and noticed the front nearside door had something on it. On closer inspection, just above the silver strip, was a rust bubble the size of maybe a £2 coin, maybe a bit bigger. I said no even though they offered to fix it - I had doubts in my mind in case something had gone wrong with a repair.
It might have been the silver strip had been removed and replaced incorrectly, chipping the paint away -either at the factory or following a repair. Interesting is seems to be a weak point on other LS's too.