Red alder, mahogany, maple, white oak, and pine veneer panels conditioned to 6, 12, or 20 percent moisture content (MC) were stained with red solvent-borne stain, partially coated with clear lacquer, and air dried. All of the hardwood panels stained at an MC of 20 percent were either significantly redder or darker than panels stained at lower MCs. Clear coating made panels darker and redder (except oak). We conclude that large departures from the recommended MC for staining (6% to 8%) can significantly alter the color of hardwood veneer panels stained with solvent-borne stain.