Grain, tool marks, and joints.
Waterlogged wood preserves tool marks, joints, and species-diagnostic grain. Drying it uncontrolled will destroy it — a piece that survived a thousand years wet can be ruined in a weekend on a radiator. Keep it wet, wrapped, and cool until a conservator takes over.
Record species (a conservator or wood anatomist can confirm from a sliver), the conversion — how the timber was split or sawn from the log — and any joinery: pegs, mortices, laps.
Tool marks are the treasure: axe and adze facets, saw strokes, auger holes, even the sharpening flaws of an individual blade can survive in the surface.
Photograph wet wood immediately, with a scale — it may never look this good again. Dry-land wooden survivals (furniture, treen) instead show wear, patina, and repairs; record those honestly too.