The satin finish isn't any different coating - it's just how the rubout is handled.
When we are doing the final sanding before buffing, we use progressively finer and finer sandpapers up to about 3000 grit. Then we just leave that with the long linear strokes on the back of the neck and tape of the neck to protect it at the ends while we do the final buffing.
To do a satin finish DIY later it might be easier and safer to use Scotch Brite - the grey followed by the white. Keep the strokes long and linear, these are the tracks your palm will follow when you play. Protect the areas you DON'T want the satin finish on with tape, and don't be super aggressive. You can always take it down more, but if you rub through, you'll see modelling, and to fix that does require some refinishing.