Danish oils are fantastic for finishing in a lot of ways. Watco Oil is one particular brand that I use. True, it leaves a matte finish but if the wood is properly sanded it looks great. You just slop it on or wipe it or brush it..... whatever - no worries about uneven coverage like traditional stain. The only real drawback is the sloooooow cure time - this stuff takes days to fully cure out. When it finally does you can apply a topcoat sealant if you want.
Light & Medium Oak are the best shades. Cherry is a little too pink/purple, Golden Oak a little too yellow. Some interesting combinations can be mixed using a little of everything.
BTW - watch the oil soaked rags.... they are subject to spontaneous combustion in the right/wrong conditions.
Is that bike still for sale?????