If your Pearson was built between 1972 and about 1984 ... thats NOT teak on your boat but probably IROKO, a teak look-alike.
Iroko is a beautiful wood (prettier than teak) but has very soft 'soft' grain between the 'hard' grain. Most coatings other than varnish dont adhere to Iroko (at least the soft grain sections) ... so you can forget about Cetol, Bristol, and all the other so-called 'modern' coatings. The downside of Iroko is because some of it is soooo soft, you have to sand off a LOT after you remove previous coatings to level the hard grain to the soft grain.
Actually a resinated oil works best with Iroko (25% varnish + 75% oil) and many coats applied THICK. A commercial 'ready-made' resinated oil would be "NuTeak" by "MaryKate" ... usually available from WM. A resinated oil finish can be flat sanded, and then 'hand-rubbed' with rotten-stone etc. after application and be made to be MORE glossy than the best varnish jobs. .... and best of all when the finish ultimately 'goes' can be dissolved/removed by soaking it in TSP (triSodiumPhosphate) .... 'wood cleaner' sold in paint stores.
Resinated oil finished will turn very dark after about 2 years in direct sunlight exposure.