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I stand corrected! I never heard of using shellac in this way, and I didn't even know that people have been using shellac as an adhesive for shaving brushes. Very interesting.

Anyway, I would...

REPLACE THE KNOT!! It is easy to do, and if you don't want to bother with it, you can send it to Rudy Vey, who will do an excellent job for you for very little money. You just cannot "repair" a...