The intent on violin family instrument and many mandolins is reduce any drag or
sticktion. Often there is actually a finish there such as a light coat or
thinned shellac or an oil sealer that is then buffed back with 0000 steel wool.
I do this on my mandolins, I use TruOil but just a few coats. I like to first
do a seal coat of shellac or lacquer sanding sealer, buff that back to wood
with 0000 steel wool and then rub on the TruOil, maybe about four coats. Let
dry for a week and buff back with the steel wool.
That being said, it is also a fairly common thing for guitar folks to just hit
the finish on the neck with some steel wool for the same reason. It makes it a
smooth matt finish that doesn't catch. Over time it starts to shine up and
needs another buff with the steel wool. After a long time most of the sticky
finish is gone down to the sealed wood.
Alan D.
"You might very well think that; I couldn't possibly comment". - Francis Urquhart