Brushed. This is the finish used on all Habanero frames. Once you own a brushed frame, you'll never want anything else. The brushed finish produces a soft, smooth silver finish (which I find much more attractive than bead blasted or polished, but chalk that up as personal opinion). It's very scratch-resistant, and minor abrasions are virtually invisible on the surface. If you do manage to scratch or otherwise mar the surface, a few passes with a ScotchBrite pad or 400 grit sandpaper restores the finish perfectly. This means that you should be able to keep your frame looking brand new literally forever!