posted 7 years ago
Hi Kath, welcome to Permies!
Do you know if the original wood ceilings were ever exposed? If so, they may have been coated with something years ago (wax, oil, varnish, shellac, etc) to protect them and you may not have to do anything.
Even if they've never had any sort of protection, they may not need any. Unless it's particularly damp or humid in your basement. A single coat of water based varnish is all I use on raw wood in our interior projects.