I "hot dip" all my leather holsters and sheaths in a 1:1 mix of beeswax and neatsfoot oil. If you get the mix too hot it will cook the leather (ask me how I know) that will look great but be rock hard. I dip and keep the item submerged for a couple minutes, let it drip/cool, sit for 24 hours, then buff with shearling or cotton. It took a while to figure out proper temperature, process time, but I'm happy with this method. Running the stitching wheel over the threads while the piece is still warm from the wax/oil bath really makes them look great as well... Every once in a while I'll get a piece of leather that doesn't want to absorb anything and I'll do this same method but during the 24 hours after dipping, I'll run a heat gun on low over the piece to melt the wax and help drive it in a little bit more, it really seems to soak it in when coaxed with a little heat (just enough to melt the wax). I know many would say that dipping in oil is too much but in my experience, albeit quite limited, it has worked very well for me.