On our 1982 President where we had water stains from windows I sanded the surface to make it flat and remove all of the old varnish. I used Zar oil based stain and mixed a few different combinations to match the color. I believe the Teak and Cherry worked the best. The best thing about the oil based stains is that they are time dependent on how dark they get. You can paint it on, wait anywhere from a few minutes to just before it dries and then using a rag wipe it down to lighten the color up. Let it dry and if it needs more apply more. If it matches apply some varnish to seal it all up. It is not perfect but it is much better than before.
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Tom
"Harmony"
1982 41' President
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