Hi-Viz mast top

Traditional solid spars were not varnished but oiled and sometimes with tar mixed in. Parrels and gaff jaws would have made short work of varnish or paint. The ends of booms, gaffs and masts were painted to prevent checking, just as timber baulks are often painted at the ends during the storage and drying process. The paint stops the capillary action of the endgrain and to prevent the ingress of moisture. Using white paint is to reduce thermal impact, not for visibility.
 
As a helicopter pilot, I can’t see the colour at the top of the mast making a great deal of difference in making a vessel easier to spot. Having said that white yachts with white sails are surprisingly difficult to spot if there are any breaking crests. I get the use of orange storm sails and reflective tape I think makes a big difference at night. If you need to be seen by day from the air, pyros offer (imho) the only really effective way of getting you found quickly in a crowd or breaking seas. I’m not saying you won’t be found without, but generally would be found more quickly with.
Now, all you 'not going to renew my pyros' people - listen to the oracle, and understand the message.
 
After seeing in marinas a few mast tops painted orange I quite fancied the idea. Now, having seen one at sea, the benefit looks tiny, I think. Far more eyecatching was an orange panel at the head of a mainsail that I saw earlier this year.

Reflective tape seems to me a useful variation on the theme, and is available in silver or orange.
 
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