Refurbishing help

See this dresser?

I rescued it from the garbage years ago, because I think with a little bit of work it could look fantastic. I like it because it offers storage, which a lot of TV stands don’t, it’s tall, and it’s multi-purpose if we need it for another function in the future.

But here’s the kicker – I must confess I don’t know how. I don’t even know what kind of material it’s made of or how to tell. Do I just sand it down, prime, paint and then hope for the best?

(Actually that doesn’t sound like a half bad idea).

I’m at the point now where I’m trying to decide if the work would be worth it or if I should just call a spade a spade and designate it for the trash. I mean, I could always buy something like this, which does have the added feature of possibly allowing me to get rid of our two bookcases BUT might be way too overwhelming for the space:

BESTÅ/INREDA TV storage combo with sliding doors IKEA Sliding doors save space when open and hides the TV when needed.{ source }

So what do you think I should do – Salvage? Trash already?

And, uh, how do I figure out what material I’m dealing with?