Oiled Leather vs New Wood

How close are they?

ΔE 9.6, close: similar, with a visible difference side by side. New Wood is a little lighter, more muted than Oiled Leather.

Can I use New Wood instead of Oiled Leather?

Usually, if you are not matching paint already on the model. Close match (ΔE 10). New Wood is a little lighter, more muted than Oiled Leather.

Can I use Oiled Leather instead of New Wood?

The same difference applies the other way round: Oiled Leather is a little darker, more saturated.

ΔE is the colour difference between our two swatch estimates: under about 6 is close, over about 15 is loose. Real paints also differ in finish, coverage and how they thin, so test before you commit.