It looked not bad from beginning but had some scratches, faded painting and other small defects. I started from sanding, then I painted with wood finish and started to draw lace. It takes tons of time to paint all these thin lines and small flowers :)
Last step - covering with water based finish. I plan to use it for all my stuff I use for handmade and painting that now stored in different places without any order. I am happy at last to have designated space for all my craft supplies.