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I met a guy the other day who works on older boats with antique woodwork. When refinishing, he recommended stripping the wood bare and apply "West System" epoxy. He told me to make sure to get the one that is "UV" resistant. (If it mixes thick, thin it with acetone.) The epoxy absorbs deep into the wood which repels water and the UV resistant blocks the hard sun. It prolongs the life of the finish. Next, light wool (000) and your varnish.

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NEGATIVE !!!!!, Epoxy Mahogony ? never heard of it, then again, I've heard about "Snowy Owl's" but, never saw one. We use the "Whalen method", Zip Strip stripper, sand, clean w/ mineral spirits on a rag. add just a touch of mineral spirit, to the stain on the first application (to absorb better into the wood) let dry (sand lightly, and add 1 more coat of stain if you want a darker tone, optional). Apply Poly urathane (Not too heavy on the 1st coat, ya gonna hit it again), let dry (overnight- two days if it's damp), buff down with steel wool (FINE), clean w/ a rag and mineral spirits (this takes out the bumps in the poly, Hit again with a coat of poly urathane, let dry over night (this time she dries faster), buff with wool (Fine), clean with rag and spirits, apply poly again, let dry, ya done. I use "ZAR" products, they come out the best, stay away from "Minwax", the stains "skid". If you want to make the wood look super shiny (Ya know, like a wet cough drop), apply 5 coats of poly, on the 6th coat (final), use a spray can of polyurathane, let dry well, apply a good car wax, wipe, enjoy the Whaler. Note: Sand down sharp corners of the wood, the poly will stick better, and be thicker on the corners for better protection. REMEMBER, it's not the salt air, and wind that destroys the wood but, the U.V. rays from the sun, that does the damage.

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DOUBLE NEGATIVE!!!!Epoxy finishes may well provide the most durable finish to a wooden surface but it is not recognized as a UV shield. And I guarantee, that you will invent all manner of new curse words trying to apply a smooth coat to a vertical surface.And God and the next owner will condemn you to Purgatory when it comes time to remove it.
Polyurethane will allow you to put a nice shiny surface on wood very quickly. It will fail under heavy UV almost as quickly. Turn yellow. Peel off in flakes. I know... I just sanded off the stuff my Dad applied to the console a couple of years ago. I blame it on Geezerdom...he new better.
That leaves the stuff mariners have been applying to to wooden boats for centuries...Varnish! 6+ coats of it! The more the better! Slow to dry...must be lightly sanded between coats applied in a dust free environment! A real pain in the butt for those accustomed to the fast pace of modern life! But it will last! All you have to do is apply a touch up coat or two each season.
But when it's all done...and you slip that baby in the waters in front of the admiring crowd...children will scream...young women will want your phone mumber..old men will swaller their chew, and your wife will be mad that your boat has gotten a lot more loving attention than she has for the last few weeks...and what could be better than that!?

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Varnish ??? ACK ! it's like working with corn syrup ! I use the Marine rated Polyurathane by ZAR with U.V. Protection, lasts quite a few seasons, then I strip it off and re-apply, Hey, everyone has the method that they like to use, thats what makes it fun, right ? you are 100 % correct about the wife part though, lol !

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Bristol Finish works quite well and it's fairly easy to apply compared to some.
Read up on it here.

www.bristolfinish.com

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Applying a sealing coat of penetrating epoxy is a well known and widely used technique in wood finishing on boats. Some like it and some do not, but there is nothing novel or unusual about the practice.

Varnish has been used on boat woodwork for hundreds of years. It has proven itself as an easy to use and durable finish if applied correctly.

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Bristol is very brittle when dry and tends to chip if impacted, even lightly. For this reason it is best left to areas that need to look pretty but see little action. This product dries quickly so you can build multiple coats in a jiffy, but that is it's only plus. Another minus is that it cannot tolerate extreme heat ,cold, or humidity when applying. Oh yeah, it's pretty expensive too.

Good old fashioned varnish. Many coats.