Eight fluid ounces of Huberd’s Neatsfoot Oil can be purchased for as little as $8.99 on Amazon. I have been using it on my Brooks B17 for two years. It keeps the saddle leather supple and somewhat water resistant.
One of the best features of the product is that it does not leave a residue that will come off on your riding clothes. I usually use it after a ride so that it has a chance to penetrate before my next ride. Even though I apply it generously, I have never had a stain on my clothes.
If you happen to check out the topic on the Internet you will find as I did that opinions vary all over the place on treatment of leather bicycle and horse saddles. There are some magical formulas that people use. The problem is that it is difficult to prove hypotheses about the goodness of these potions because there are no long term study results published.
For what it’s worth, I use Huberd’s and I’m happy with the stuff.
I use neat foot oil on my Brooks saddles too. I just bought the cheapest stuff they had at a chain sports equipment store (baseball gloves). I discounted most of the opinions I’d read but decided to follow Sheldon Browns advice. As he suggested, I invert the saddle, form an aluminum foil pan around it, pour in the whole bottle. I let it soak overnight and pour what remains (3/4?) back in the bottle for next time. As you say, it left no stain from the ‘honey’ saddle. But the black saddle stained my pants for hundreds of miles. I treated each saddle several times (a bottle or two’s worth) and then just gave it up. I haven’t treated either for several years and they don’t seem to miss it. I bet the last time I oiled the honey saddle on my commuter was 2010. I rode it every day until This year and it looks and feels as good now as it did back in 2010.
Thanks for the comment. I didn’t think to check Sheldon Brown. My Brooks is only half the age of yours, but it looks like it will last a long time as well.