You must not skimp on the sanding down. There is no short cut. Use super duper fine wire wool, then use a new bit of wool of the same grade to apply the first coat of Danish oil. The oil and the wood dust form a paste which fills the microscopic grain. Then apply the second coat with a clean lint free cloth.
I have a 4x10 Mark Bass and I want to raise it of the floor a bit. Is there anything akin to a milk crate which I could use? Preferably something which folds up when not in use?