First job in this operation is to mask off anything you don't want black paint on.
I finish the finger board first, I don't know if everyone else does but I do. I wrap the neck up in layers of news paper and masking tape as can be seen from the picture above.
You can also mask the dots as well or you can just scrap the paint off as you go.
TIP - Some people use something called sanding sealer, this seals the wood and so when you spray on to it with lacquer or die or stain it give its a smooth surface and also doesn't need as many coats of lacquer to give it a flat / level finish.
This picture was taken during the spraying of black plastic based paint for the fingerboard. Again depending on if you used sanding sealer, you may need more or less coats. I used around 5 coats of black but you may need more. You also may want to use grain filler after applying the Paint as it will take less coats of lacquer to make a nice finish.
After the paint had dried for at least a week, and gone off and hardened, peal back the masking tape slowly and carefully so not to take the paint with it!
After removing the tape use a knife, either Stanley knife, or pen knife and scrape away the pain from the inlays and the side markers on the neck, be very carefully doing this one slip and you could remove the paint from the wood.
My stain is a mix of dye and mahogany stain to get the colour I get. I tested it on old off cuts of veneer and mahogany, before I applied it to the actual guitar. I applied the colour with a rag or a piece of cloth. It looked like this before lacquer was applied.
After the stain has thoroughly dried after a few days, Sanding sealer is applied to minimise the the number of coats of lacquer.
After around 15 - 20 coats of Rustin's lacquer, its is left to dry and harden for around a month, after it is wet and dry sanded with the finest grade and buffed and polished with burnishing cream from Rustin's.