Olive jars and pickle jars are the secret..... (those count as green vegetables, right?)
I'll get a couple of pics added later today, but my approach is very similar to Billy's (not surprising since they're both based on Russ Fairfields). Couple of differences- I generally use the same bushings I turn with for the lacquer dipping (though I did pick up some of Fangar's delrin blanks to modify for this purpose). As Dario commented, I have a lot of bushings- 20 sets for sierras, barons, and cigars, and 15 sets of most others. Like Billy, I use a piece of allthread (roughly 10" long) for the shaft- at the very top I have threaded the allthread into a small wood black (7/8" X 7/8") with a small eye screw threaded into the opposite end. I cut the blocks from several bland pen blanks. Under one of the upper cabinets in my shop I mounted a board approximately 30" long that I had screwed about 30 small cup hooks into. While dipping, I have a piece of wax paper doubled over below to catch the excess, and I hang the allthread rod with the small eyebolt on the cuphook. I use a tall olive jar for the lacquer dipping- gives me more height while useing less volume. This allows much easier dipping of long items like the artist sketch pencils without having to try and tilt the can at a crazy angle. I use Deft Lacquer, and cut it with lacquer thinner- roughly one part lacquer thinner to three parts lacquer. This can cut the time between coats to about thirty minutes, if it's warm and low humidity. When I load the blank on the allthread, I have a 1/4" nut about midway up un the allthread that serves as a stopping point. Slidding the blank with the bushings still on, I add a 1/4" flat washer and 1/4" nut to the bottom- threaded on just enough to be flush with the nut. I then use the top nut to tighten down finger tight- and have never had a problem with lacquer getting into the tube. As Billy pointed out, you want to avoid air bubbles. I've found that if I slowly remove the blank while dipping, a) any air bubbles will "catch" in the little wave of lacquer where the blank meets the upper surface of the liquid, and not be picked up in the finish, and that b) you end up with less excess lacquer dripping off and being wasted. The pickle jar comes in after the three or four coats of dipping- since I'm normally running anywhere from 10 to 25 barrels through at a time, that's a lot of bushings with lacquer build up. A pickle jar half full of acetone is where these end up, along with soaking the end of the allthread. In removing the bushings from the all-thread, I'll normally grasp the upper bushing and start unscrewing- so the lower nut, washer, and both bushings come off all at the same time with the blank. if the bushings dont come loose from the blank with just a gentle bit of rotation, I have my bench vise close by- snug the vise down to the bushing, give the blank a gentle wiggle left to right, and it pops loose with little effort. I've never had this effect the finish on the blank. I'll let the bushings, nut and washer soak in the acetone for a couple of hours, giving the jar a little swirl once or twice in the process, and then they're ready to be removed and dried off. I've sanded (wet sanding, slow speed) with micromesh starting at the 1800 grit, as soon as two days after dipping. I prefer to give it closer to a week, like Billy, when time allows.I believe the thinned lacquer results in quicker drying time.