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In the video tutorial, the speaker explains the process of applying a finish as instructed by Darren. The first step involves applying the finish, allowing it to sit for 10 to 15 minutes depending on temperature, and then wiping off the excess. This step is crucial to prevent thick wax buildup, ensuring better adhesion for subsequent coats. After the initial application, additional layers can be added, but it’s noted that these layers will darken the surface significantly. Typically, two or three coats are recommended, with the first coat serving to cover the basics and establish the desired color intensity.