Flat Finish

You could do it over a job already done, and actually you do. As Todd said, you build with gloss and finish with satin - there are 4 coats of captains gloss under the two coats of satin on this boat. I am going to "dull up" my 1916 Canadian Canoe Co, it has 5 coats of gloss, but one or two of Satin will (i think) make the refinishing job look more age appropriate. Of course its all subject to personal preference since Peterborough in the '40s probably put 2 fast coats on with a cornbroom.....
 
Epifane

Here are a couple photos of Epifanes matte over gloss.
 

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That's an awfully nice looking boat!

As to the solids content question, I think you'll find that it's more a matter of the quality of the varnish than it is whether it's matte, satin or gloss. The manufacturer has to fill that quart can up with something, and the cheapest ingredients are solvents. More solvents beyond a certain point generally mean lower-quality varnish that doesn't build as well, may not go on as well and may not last as long. The same is often true for traditional paints. Pigment costs a lot more than solvent does.

People sometimes claim that for marine finishes, all they do is put a boat on the label and raise the price substantially, but I've never really found that to be true. In 40 years of painting and varnishing boats I've nearly always had excellent results and minimal unpleasant surprises when using the real marine finishes. I can't say the same for many of the products that came from hardware stores in an effort to save a few bucks. There are enough things that I can screw-up all by myself when building or rebuilding a boat. I'll be damned if I'm about to let some bargain finish do it for me.
 
Beautiful boat Craig, people must just love seeing it out. That fishing line really hold the boat to the dock? I for sure will be doing a matte finish on something here. I wish I had caught on to this last year. Thanks for the posts and pictures guys.
 
I will wholeheartedly second this sentiment. I have 50 years of painting boats, 40 years in the recreational marine industry, 30 of those dealing with marine paints. "You get what you pay for" is as true with those products as it is anywhere. I don't care what manufacturer you choose, just be sure it's a good, reputable company that makes a good product. Then, not only read, but follow, their instructions regarding preparation, thinning and application.
 
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