Another option if I may intercede, is the method I am using on the Nina and Pinta. I drilled holes in the keel and then used screw/bolts for holding the model in place. Covering the nails are brass tubes that are the same width as the keel. I then cut the tubes to the desired height, slip them over and epoxy the top portion of the screw that will be inside the model.
The base is bass wood stained light. Since the Nina and Pinta were simple merchant ships, I chose a base that was simple so as to not take away from the models.
I have used brass pedestals on other models I have done when the scale is appropriate. You can ruin the overall effect of a beautifully built model if the stand or pedestals are too large or too small.
You can also see that the keel cracked a bit just behind the forward hole, but a little green putty, sanding and repainting made it disappear.
Just my one cent.
Steve