wax1 ( def 1 ).
verb (used with object)
to rub or treat with beeswax.

1670–80; bee1 + 's1 + wax1 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
beeswax (ˈbiːzˌwæks)
1.  a.  a yellowish or dark brown wax secreted by honeybees for constructing honeycombs
 b.  this wax after refining, purifying, etc, used in polishes, ointments, and for modelling
2.  (tr) to polish with such wax

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Word Origin & History

1670s, from bee + wax. As a jocular alteration of business (usually in an injunction to someone to mind his own) attested from 1934 in Lower East Side slang as reproduced in Henry Roth's "Call It Sleep."
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
And then there are wildlife products, such as beeswax.
Some communities are deriving additional income by producing beeswax candles
  and other products.
Look for crayons made from beeswax and infused with natural dyes.
Honeybee hives have long provided humans with honey and beeswax.
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