The issue to watch isn't so much the teak but the
hardware. You really want top quality 316
hardware if possible. The standard teak outdoor stuff hardware may be stainless but probably not
marine grade. You might find some of the teak furniture
sold as "some assmebly required". If you replaced all the hardware you might come up with something pretty durable.
These days you can't buy quality Asian Teak furniture
cheap. Even the
Edson stuff is not Asian Teak. The real stuff turns bright red when you sand it and has a lot more natural
oil in the
wood. With Edson you'll get the better hardware.