[AT] Antique tractor tool advice needed

[Grant Brians]

All, I have a very on-topic need that I want to ask about. I have a timing
light I bought about 30 years ago for use on gas engines on my cars, trucks
and tractors (all over 40 years old now!) It has given me excellent service,
but I did not use it for four or five years and then I went to use it again
recently. I discovered that it does not any longer consistently light it
should.
    The timing light is a high quality inductive pickup type light and I
have cleaned the magnet, checked the springs to assure that the pickup is
fully around the spark plug wire and verified that all of the wire
connections appear to be fine. I have not opened up the sealed wires to
verify that with a meter, but I see no evidence to believe that is
necessary. When I thought about this, it seemed that there might be a
possibility that the problem is that the magnet has lost its magnetization.
Does this seem like the best possible analysis to the list? And if so, how
best can I remagnetize this pickup without damaging the light itself.
    I should mention that the light itself (a neon bulb) lights just as
brightly when it does light as ever, and that there does not seem to be any
pattern to the lack of lighting that I can determine.
    Thanks in advance to all who offer thoughts on this challenge.
        Grant Brians
        Hollister California
p.s. I have an Oliver that could really use this to be working so I can tune
it.....