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You can varnish, oil, or do other finishes, on your wood (teak or mahogany). Others may chime in with the OEM finish on the wood for a Montauk of your era. I, like many, keep it oiled. Just keep it out of the elements, covered under canvas, to keep it looking good. For your wood restoration there is a lot of info out there - so try some google searches. Careful using teak cleaners. I sanded my teak then have kept oiled and have been very happy.