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"Satin" isn't a "luthier" finish... it's just a non-glossy clearcoat that can be polyester, polyurethane, lacquer, etc. Anyone who's painted anything knows that paint comes in different degrees of lustre ranging from "gloss" to "flat" with 3 to 5 variants in between.
Tung oil will protect from average environmental exposure as long as it's well maintained. But it doesn't protect from impact as well as a hard clearcoat.
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