I've done a lot of varnishing but never on teak. I know that Pettit says their varnish will work on it but you need to remove surface oils with the solvent that is appropriate for the varnish blend. Always read and follow manufacturer's recommendations as these usually vary with each product. Here are some examples:
Z-Spar Flagship Varnish:
Bare Teak* (or other woods with high oil content)
1. Sand the wood smooth with 120 grit production paper to open up the grain. Wipe the surface
thoroughly with Pettit 120/T10 Brushing Thinner in an effort to aggressively remove as much oil
as possible.
2. Apply a generous coat of Pettit 2018 Clear Sealer. After an overnight dry, lightly sand the
surface with 220 grit sandpaper and wipe it clean with a rag dampened with Pettit 120/T10
Brushing Thinner.
3. Apply at least four coats of Z*Spar 2015 Flagship Varnish. Let each coat dry overnight, sand
with 220 grit sandpaper, and clean off sanding residue with a tack rag before applying the next
coat. Sand the next to last coat with 400 grit production paper prior to applying the final coat.
*It should be noted that woods with a high oil content may eventually experience adhesion problems
as there is no way to totally eliminate the oil and prevent it from migrating to the surface.
However, this application technique has proven successful in most circumstances.
Pettit Easypoxy Hi-Build Varnish:
Bare Teak* (or other woods with high oil content)
1. Sand the wood smooth with 120 grit production paper to open up the grain. Wipe the surface
thoroughly with Pettit 121 Spraying Thinner in an effort to aggressively remove as much oil as
possible.
2. Apply a generous coat of Pettit 2012 Super Dry Sealer. After a two to four hour dry, lightly
sand the surface with 220 grit sandpaper and wipe it clean with a rag dampened with Pettit
120 Brushing Thinner.
3. Apply at least five coats of Pettit 2056 Easypoxy Hi-Build Varnish. Let each coat dry overnight,
sand with 220 grit sandpaper, and clean off sanding residue with a tack rag before applying
the next coat.
*It should be noted that woods with a high oil content may eventually experience adhesion problems
as there is no way to totally eliminate the oil and prevent it from migrating to the surface.
However, this application technique has proven successful in most circumstances.
I know quite a few wooden boat owners that like Bristol Finish for it's varnish-like look and longer time between recoats. I keep the boat in a covered slip so I use a traditional Pettit varnish.
The choice between traditional varnishes and the sythetics like Cetol or Bristol Finish involve trade-offs in appearance and function. I don't think any of the synthetics look as good as varnish including Bristol Finish which has a "plasticy" gloss that looks more like automove clear coat than varnish to me. On the function side of the argument, synthetics can hold up against UV from the sun much better than varnish and can go a lot longer between recoats. Another factor in the function of bright finishes is flexibility of the cured product. Polyurethane is the hardest and least flexible of the resins in use. It's best for use on high traffic surfaces but is more likely to crack along joins than the most flexible phenolic resin varnishes or the medium flexibility alkyd resin varnishes.
Varnish brand names can be confusing. The two examples I gave above are Z-Spar Flagship and Pettit Easypoxy Hi-Build. Which do you think is the more traditional varnish?
Flagship blends phenolic with alkyd (polyester) resin. The Easypoxy Hi-Build has nothing to with epoxy. It's an excellent 100% phenolic resin varnish like traditional varnishes that go back to the early twentieth century.
Before phenolic resin came around spar varnishes used pine tar resins that were very short-lived in the marine environment.