1936 Mercedes-Benz 290

• The lead photo is a black-and-white 1952 US Forces Germany shot of this car in service, nice provenance, but it tells you nothing about today's condition.
• Today's color photos show paint gone and surface rust over nearly every panel, so this is a full body restoration, not a preservation job.
• The convertible top is collapsed and rotted, with torn fabric and the frame heaped on the rear deck, so a complete new top and frame rebuild is in the budget.
• Inside, the driver's floor is rotted through with gravel visible under the car, so structural metal work comes before any cosmetics.
• Seats are worn, dry and split, and the door trim is tired, so a full retrim joins the list.
• The wood dash and gauges survive surprisingly complete, one of the few areas that may restore rather than replace.
• The engine is present but bare and corroded, with manifolds off and fittings exposed, so budget a full engine rebuild on top of the body work.
• Chrome and bumpers are rusted and pitted throughout, so rechroming is another major line item.
• Can't judge the underside as a whole — no dedicated undercarriage photo appears, though the holed floor already answers part of that question.

Money: at $49,950 you are buying rarity and the 1952 photo story, not condition — a pre-war cabriolet restoration will cost several times the ask, so this only works as a long-term project bought for the car's significance.