The preservation efforts and history of the Swedish warship <i>Wasa</i> are described. The pioneering effort for understanding and treating such a large volume of waterlogged wood involved the use of polyethylene glycol (PEG) for consolidation and stabilization. A number of conservators and scientists are interviewed and provide different viewpoints. An explanation is provided of wood chemistry and consolidation processes, current testing, and reports of treatment procedures. (Abstractor's note: the article is longer and more complete than the usual general-interest article and provides a useful overview. ) -- AATA