My finish is 1 part beeswax (melted) mixed with 1 part turpentine then add 2 parts Linseed oil. I use it to seal wood boxes & chests (over Milk paint). Wipe on, allow to sit for 5-20 minutes, then wipe off the excess. Allow the finish to polymerize (direct sunlight is best) then repeat the process for multiple layers. It may take a few additional days for the residual turpentine odor to dissipate. Easily refreshed without needing to strip the entire piece.
Because of the Linseed oil, I would not use it for leather for fear it would stiffen the leather which could result in cracking. Not certain what the turpentine would do to leather, but I can't imagine it is favorable...