I picked up Lee Valley's version of Renaissance Wax, Conservator's Wax. I checked the Dmax which was 1.19 (not a very high Dmax to begin with but that's what this print was), and scanned it. I rubbed on a thin coat, buffed after it had dried. Applied another thin coat and buffed when dried. Checked the Dmax and it read 1.26. So, there is a slight increase in Dmax but visually I couldn't see the difference. It does look a bit richer, but that's probably due to the sheen.
I have scans of before and after, but the difference between the two is so subtle I couldn't see the difference on the monitor.

Would Dmax increase with more coats? It didn't for me. In fact, it decreased to 1.22 after of 6 coats. Visually, I couldn't see this loss. The image did look juicier though. Two coats was good enough. Have any of you waxers out there experienced this loss of Dmax before? Perhaps someone smarter than me can explain. It reminds me of when selenium toning silver prints that papers after a certain time, will begin to lose Dmax.

I have to agree with Sandy's opinion that waxing does not bring the print back to when it was "wet". Just place a waxed print beside a just processed print of the same image and you will see.

I'm going to make two identical kallitype prints. One will get waxed and the other won't. I'll stick them on my wall and observe the waxed print over time to see if there is any discolouration.
Thanks for reading...