It wouldn't be varnished Bill not in the way you mean
The idea is to colour the wood and any finish over that would be matt to protect and waterproof.
So it will look natural like the Cutty Sark etc
Andy,
A grey teak look would work. Even that would show dirt, scuffs, dents & other warts caused by sea weed, mud, & the traps. Such mars would be mostly in the area of the pot hauling davit. Your build looks very good. Always look forward to your photos.
Don’t know if you saw them but in a separate post I added some photos of lobster boats in Plymouth Harbor. Felt more like hauling out weather rather than prepping for the season’s first set.
Bill