The guy who recommended Varathane to my paddling buddy and me (a boat builder with much experience varnishing) said it worked great for him. We followed instructions, let the stuff cure for days and it still went bad.
He varnished the last cedar stripper boat he built with Varathane and the entire boat turned white in the water on its maiden voyage. He apologized to us for recommending it and won't use it anymore. He says the only thing he can think of is that they changed the formulation.
I would say it's too much of a coincidence when three people (two of whom are very experienced) working from three different cans get the same crappy results.
Full Size Sail Rig
Classic Freestanding Rack
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