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I recently purchased a rather expensive black billfold. I ran out the other day in a light drizzle and managed to get a few water drops on it - which I promptly wiped off. Now there are several areas where it seems as if the leather swelled in response to the water and it has left what appear to be permanent raised "bubbles" (for lack of a better description) in the leather. I have experienced water spotting before with some lighter leathers and have learned how to deal with them but have not seen this effect where the leather does not just spot but "bubbles."

Is some leather more prone to this than others? Anything that can be done to remedy this once the damage is done? I assume there must be something about the tanning of this leather that makes it so suseptible to this. Any advice welcome. Thx.