The process is dirt simple and does not take a lot of time to do, that's why like it so much.
In principle all the sanding must be done before oiling, most of the time I go up to grain 600 and sometimes when I want just I bit more shininess, like on a fingerboard for instance, I go up to grain 1000.
When everything is oiled and the oil has had proper time to dry l will also apply a hard wax, just for extra protection and that bit of extra zing to the shininess.