I use a water-based acrylic because:
1) I haven't got sophisticated fume extraction and don't want to breathe the fumes you get with spirit-based lacquers etc.
2) My workshop is next to our kitchen, and my wife doesn't want to breathe them either
3) I'm a skinflint and hate paying for fancy solvents when you can use a varnish whose solvent comes out of the tap (I believe Americans call that a fawcet or something)
4) Cleaning up the equipment is nice and easy
5) It sticks harder to the fingerboard edge than spirit-based lacquers I've tried.
What I don't like about it:
1) It takes a long time to get hard enough to cut back and polish up (sometimes up to a month)
2) There's sometimes a funny reaction with spruce. Certain grain lines cause a ridge - you sand it out but it re-appears in the next coat. #And the next . . . #I get round it by giving the soundboard a coat of cellulose-based sanding sealer.
3) It doesn't get as hard as spirit-based lacquers. This can be an advantage - it doesn't chip and crack as much. However, it means that it's prone to marking anywhere there's pressure on it (eg. under the bridge on a mando).
I'm in England, and use a brand called Rustin's, that's made here. Maybe the water-based finishes you get from LMII or StewMac do a better job.
Mandolins: Bandolim by Antonio Pereira Cabral
German flatback mandola by unknown maker converted from a descant Waldzither
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