I was going to post that I like using Waterlox on frames and paddles (if for no other reason than to enhance the color of the wood) but it too is very expensive for what is mostly solvent. Mixing your own version is easy and much less costly. Plus, you can mix as little as you need for the job. I find that Waterlox in particular doesn't keep very well (even when purging air from the container) leading to unnecessary waste...

: I have yet to see a "tung oil" product at a big-box store
: that's actually tung oil. Most of them are basically wiping
: varnish, which is typically either just highly-thinned varnish
: or a highly-thinned oil-varnish blend. Some of these "tung
: oil finish" products contain no tung oil at all. That
: doesn't mean that they won't work OK, but you never know what
: you're buying from one product to the next. They're also very
: expensive when you consider that they're typically 50-75%
: mineral spirits. That's one reason I prefer to mix my own blend,
: using pure tung oil and the varnish of my choice. At least I
: know what it is and what the properties of it are, and I can
: duplicate it anytime I need some.